Cobre Ltd (ASX:CBE) Drilling Confirms Continuity of Higher-Grade Copper
3 December 2025
Price Sensitive Announcement $
Highlights:
- Further positive visual mineralisation estimates from 200m spaced infill drilling corroborate the extension of a higher-grade zone of chalcocite mineralisation extending laterally from NCP55 which includes 10.0m @ 1.32% Cu & 27.7g/t Ag (see ASX announcement 3 February 20251);
- Infill hole NCP69 includes a 6.5m intersection of chalcocite mineralisation logged from 197.9 to 204.4m including an estimated 5 to 8% chalcocite over 1m with visual estimates of abundance confirmed with pXRF measurements2; and
- Based on the encouraging preliminary results, the current drill programme has been further extended to include step-back and lateral step-out holes to delineate the vertical and lateral extent of higher-grade copper-silver mineralisation within the Cosmos Target.
Noting the zone of higher grades, the ongoing drill programme is designed to test the potential for both In-Situ Copper Recovery (ISCR) and conventional underground mining at the Cosmos Target.
Overview:
Cobre Limited announces further results from the Cosmos Target drill programme (see ASX announcements of 23 October 2025 and 24 November 2025)) on its wholly owned Ngami Copper Project (NCP), Botswana.
The Cosmos Target is currently defined by promising copper-silver intersections over an open-ended strike extent of >4km (see Figures 1 and 2). Importantly, the target is noteworthy for a zone of relatively high copper grade directly above the main mineralised contact which is further supported by high silver credits. As a result, the target is currently being investigated as a potential underground mining candidate as well as for ISCR favoured for the neighbouring Comet Deposit which is located 8km to the southwest along strike.
The ongoing drill programme at Cosmos was originally designed to assess the strike continuity of mineralisation intersected in NCP55 on 400m step-outs and consisted of two diamond drill holes totalling 496m. Following encouraging intersections (see ASX announcement 24 November 2025), two additional 200m spaced infill holes were added to the programme. The first 200m infill hole, NCP69, has intersected 6.5m of interpreted chalcocite mineralisation from 197.91 to 204.4m downhole (approximately 4 to 5m true width) including vein, fracture and foliation related mineralisation. Of particluar interest, is a high-grade zone with 5 – 8% estimated chalcocite observed and logged over a metre interval (refer cautionary statements further in this announcement).
Based on these preliminary results, the drill programme has been further extended to include additional step-out holes to further assess the lateral extent of higher-grade mineralisation from NCP55 along with step back holes designed to assess the vertical grade continuity. Assay results are expected in February 2026.
Figure 1 illustrates the location of the Cosmos Target with drill collars for the current drill programme overlain. Drill sections and plans are provided in Figure 2. A lithological and mineralisation log along with core photos is provided in Figure 3. Drill hole collar postions for the current programme are provided in Table 1 below. A mineralisation log is provided in Table 2.
Company Notes:
Commenting on the preliminary results from the Cosmos Target Drill Programme, Adam
Wooldridge, Cobre’s Chief Executive Officer, said:
“While these results are visual and preliminary, we are nonetheless very pleased to see further encouraging intersections at Cosmos providing justification for extending the drill programme into 2026. This is a great result for the Company as we expand the drill program into next year and look forward to reporting the results as the core cutting and program processes with the next drill hole currently underway.”
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