Golden Deeps Ltd (ASX: GED) has announced notable channel sampling results from its Graceland Prospect, located in the Otavi Mountain Land Critical Metals District in northeast Namibia. These results underscore the prospect’s potential for significant mineral deposits, revealing impressive grades of copper, silver, germanium, and zinc.
The Graceland Prospect has demonstrated remarkable mineralization, particularly from the highly mineralized outcrop known as Gossan 1 East. Recent assays indicate copper concentrations reaching as high as 42.7%, alongside striking silver grades of up to 1,353 g/t.
These findings further establish the area as a critical metals hotspot.
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Remarkable channel sampling results
The recent channel sampling at Gossan 1 East has yielded exceptional results. The sampling uncovered substantial copper and silver grades, including:
- Channel A6CL009: 3.5 meters with an average of 12.6% copper, 79 g/t silver, and 403 g/t antimony, featuring a standout interval of 1.0m at 20.1% copper and 176 g/t silver.
- Channel A6CL008: 3.0 meters with an average of 9.2% copper and up to 135 g/t silver.
- Channel A6CL007: A noteworthy section of 2 meters averaging 16.2% copper, 442 g/t silver, and 53 g/t germanium.
- Channel A6CL010: 2.5 meters at 8.3% copper and 201 g/t silver.
The data is compelling, showcasing a consistent trend of high-grade mineralization across the sampled channels. This indicates a robust geological environment capable of hosting substantial deposits.
Comparison with nearby Tsumeb mine
The significance of these findings is amplified by the geological similarities to the renowned Tsumeb mine, located just 20 kilometers from Graceland. The Tsumeb mine is famous for its rich deposits, having produced approximately 27 million tonnes of ore with an average grade of 4.3% copper and 10% lead. The structural controls observed at Graceland are similar to those found at Tsumeb, suggesting the possibility of discovering comparably rich deposits.
The Induced Polarisation (IP) and resistivity surveys currently underway at Graceland aim to identify deeper targets that may resemble Tsumeb’s high-grade deposits. By mapping these zones, the company seeks to pinpoint drilling locations that could lead to further discoveries.
Future exploration plans
With the recent channel sampling results affirming the prospect’s potential, Golden Deeps is actively planning its next steps. The company is evaluating various drilling contractors to initiate an exploratory drilling program aimed at testing the identified gossans and IP targets.
According to Jon Dugdale, CEO of Golden Deeps, these channel sampling results strengthen the belief that Graceland possesses significant mineral wealth. He stated, The latest findings from Gossan 1 East highlight not only exceptional grades of copper and silver but also a geological signature akin to the renowned Tsumeb mine.
Dugdale further emphasized the importance of the current exploration efforts, stating, Our ongoing IP-resistivity survey is crucial for detecting both surface and deeper sulphide deposits, which may lead to uncovering valuable mineral resources.
Future outlook
As Golden Deeps progresses with its exploration initiatives, the prospects at Graceland appear increasingly promising. The channel sampling results, combined with the geological similarities to Tsumeb, suggest that the area may be poised for significant discoveries. Investors and stakeholders will closely monitor the company’s advancements in drilling plans and further investigations within this mineral-rich region.
