Cobre Limited: Commencement of Soil Sampling & Aircore Drilling at KIT West

Sydney, Australia - Further soil sampling and preparation for the upcoming 10,000m aircore programme are underway at Cobre Ltd.'s (ASX:CBE) Kitlanya West (KITW) Project which, combined with the Ngami Copper Project (NCP), covers ~2,700km2 of prospective terrane for sedimentary hosted copper-silver deposits on the northern margin of the Kalahari Copper Belt (KCB).

Highlights:

- Interpretation of soil sample results, completed in 2022 over KITW, has identified several multi-element geochemical anomalies potentially related to copper-silver mineralisation associated with fold limbs and hinge zones;

- Positive soil sample results over a newly identified doubly plunging target (Tlou) demonstrate further potential for both shear and hinge related copper-silver mineralisation;

- A second phase of soil sampling consisting of 8,600 samples designed to test the lateral extent of existing anomalies is now in progress with results expected by mid-year;

- A large-scale aircore drilling programme has been designed to test the base of the Kalahari cover / top of bedrock in a number of priority areas providing valuable information on the position, and potential copper enrichment, of the important Ngwako-Pan/D'Kar Formation redox contact and overlying stratigraphy;

- The aircore drill rig has arrived in Africa and access clearing is underway in preparation for the programme to start in April;

- The ongoing 5,000m diamond drilling programme on NCP is expected to be completed at the end of April with assay results due a few weeks thereafter. In addition to evaluating several new targets, this programme has been able to demonstrate that a combination of detailed ground gravity, partial leach geochemistry and geochemical vectors from drilling can be used successfully to identify higher grade portions of targets; and

- Targets generated from the soil and aircore drilling programmes at KITW will be combined with advanced targets on neighbouring NCP for diamond drill testing in Q4 2023.

Commenting on current results, Chief Executive Officer, Adam Wooldridge, said:

"Kitlanya West has all the characteristic geological markers for hosting undiscovered KCB copper-silver deposits. The mineral potential of the Project is further supported by its potential for a variety of target types including traditional limb, fold-hinge and doubly-plunging fold trapsites. Adding several compelling soil geochemistry anomalies into the mix adds further weight to the project's potential. The relatively thin Kalahari cover also simplifies soil geochemistry and provides an ideal environment for aircore drilling which collectively provides a cost effective means for testing multiple targets across the license area. Results from this next phase of work will go a long way to opening this emerging copper district."

Ngami Copper Project and Kitlanya West Project background:

NCP and KITW are located near the northern margin of the KCB and include a significant strike of sub-cropping Ngwako-Pan / D'Kar Formation contact on which most of the known deposits in the KCB occur. In terms of regional prospectivity, the greater license package includes:

- A number of highly anomalous drill-tested copper-silver targets on the NCP properties proving the copper endowment of the region;

- Over 500km of interpreted sub-cropping Ngwako Pan / D'Kar Formation contact as well as several fold targets which may act as trap-sites for upgraded mineralisation;

- Strategic location near the basin margin typically prioritised for sedimentary-hosted copper deposits;

- Outcropping Kgwebe Formation often considered a key vector for deposits in the northeast of the KCB;

- Well defined gravity low anomalies indicative of sub-basin architecture or structural thickening (a number of the deposits in the KCB are hosted on the margins of gravity lows);

- Relatively shallow Kalahari Group cover (between 0m and ~90m thick); and

- Numerous encouraging soil sample anomalies.

Figure 1* illustrates the soil sample results with upcoming work programmes at KITW, Figure 2* highlights the Tlou Target and Figure 3* illustrates the regional setting and emerging copper-silver district on the northern margin of the KCB.

Target Model

The Company is targeting analogues to the copper deposits in Khoemacau's Zone 5 development (Figure 4*) in the north-eastern portion of the KCB. These include Zone 5 (92.1 Mt @ 2.2% Cu and 22 g/t Ag), Zeta NE (29 Mt @ 2.0% Cu and 40 g/t Ag), Zone 5N (25.6 Mt @ 2.2% Cu and 38 g/t Ag) and Mango NE (21.1 Mt @ 1.8% Cu and 21 g/t Ag) . In addition, a number of doubly-plunging anticlines have been identified offering potential trapsites for analogous deposits to ASX-listed Sandfire Resources Ltd.'s (ASX:SFR) T3 and A4 deposits (combined reserve of 49.6Mt @ 1.0% Cu and 14g/t Ag).

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/52UJ7GH5

About Cobre Limited:

Cobre Ltd. (ASX:CBE) is a copper and base-metals explorer with projects in Western Australia and Botswana. The Company recently discovered a new high-grade VMS deposit enriched in Copper, Gold, Zinc and Silver in Western Australia, and is currently exploring approximately 8,100 km2 of tenements within the Kalahari Copper Belt (KCB) in Botswana.

Source:
Cobre Ltd.

Contact:

Cobre Ltd. Martin Holland E: info@cobre.com.au WWW: www.cobre.com.au