Deep-South Intersected 64 Metres of 0.61% CuEq, Including 16 Metres of 0.79% CuEq from 26 Metres Deep from the 2021 Drilling Program Undisclosed Results Results Highlights:
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DEEP-SOUTH INTERSECTED 64 METRES OF 0.61% CuEq, INCLUDING 16
METRES OF 0.79% CuEq FROM 26 METRES DEEP FROM THE 2021
DRILLING PROGRAM UNDISCLOSED RESULTS
Results Highlights:
• HM27 : 0.48% CuEq over 14 metres from surface
• HM28 : 0.61% CuEq over 64 metres, including 16 metres at 0.79% CuEq and
14 metres at 0.71% CuEq
• HM29 : 0.56% CuEq over 18 metres
• HM30 : 0.37% CuEq over 50 metres, including 4 metres @ 1.09% Cu Eq
• HM31 : 0.40% CuEq over 10 metres
• HM31R : 0.53% CuEq over 12 metres, and 0.45% CuEq over 22 metres
Vancouver, B.C., Canada – July 26, 2023 – Deep-South Resources Inc. ("Deep-South"
or “the Company") (TSX-V: DSM) announces the third batch of assay results from its
drilling program interrupted in June 2021 at its Haib Copper project in southern Namibia.
The program was interrupted when the Ministry of Mines and Energy of Namibia had
denied the renewal of the Haib Copper licence EPL 3140. Results from 12 drill holes have
been received after the renewal denial of the licence. As the license has been renewed
on July 2023, we can now disclose the results. We have completed our QA / QC on the
first 6 drill holes. The QA \ QC on the remaining results is underway and they will be
disclosed within 7 day. A total of 22 holes were drilled and 19 were sent for assaying. The
remaining 3 samples will be prepared and eventually sent for assaying.
Pierre Léveillé, President & CEO of Deep-South stated that: "We are extremely
enthusiastic by the results from the drill program. Previous drilling programmes
point to the presence of higher copper grade zones, probably associated with near
vertical structures (shears and faults) within the broader mineralised areas of the
project. The use of vertical drilling in the past potentially missed those structures resulting
in an underestimation of the overall grade. Our drilling program is focussing to redress this
through the use of inclined holes to identify and delineate these structures and test the
association with higher Cu grade zones. These results seem to support this updated
interpretation, showing substantial intersections at Cu grades considered high for
Haib. Additionally the presence of molydenum has been confirmed with high Mo
grades obtained in association with structures and alterations.”
The 6 holes for which assay results are reported here cover some 1,193.59 metres and
cover all 4 of the target areas.
All holes were positioned to better delineate the previously identified higher grade portions
of the Haib Copper Project and to test the extension of grade between these targets.
Significant intersections are tabulated below:
Significant Cu Intersections
Hole# Zone From To Width CuEq Cu Mo
(m) (m) (m)1 (%)2 (%) (%)
HM27 Main 0.00 14.00 14.00 0.48 0.47 0.002
Main 176.00 180.00 4.00 0.57 0.22 0.156
HM28
Main 26.00 90.00 64.00 0.61 0.60 0.005
Including 48.00 64.00 16.00 0.79 0.77 0.005
Including 74.00 84.00 10.00 0.74 0.71 0.008
HM29
Main 4.00 18.00 14.00 0.48 0.47 0.002
Main 48.00 58.00 10.00 0.51 0.51 0.001
Main 100.00 106.00 6.00 0.59 0.58 0.004
Main 130.00 136.00 6.00 0.49 0.48 0.001
Main 186.00 192.00 6.00 0.48 0.46 0.005
Main 212.00 230.00 18.00 0.56 0.55 0.008
HM30 Main 66.00 116.00 50.00 0.37 0.33 0.013
Including 66.00 70.00 4.00 1.09 1.03 0.021
HM31 Main 24.00 34.00 10.00 0.40 0.37 0.007
HM31R
Main 22.00 30.00 8.00 0.42 0.38 0.013
Main 76.00 88.00 12.00 0.53 0.37 0.047
Main 112.00 134.00 22.00 0.45 0.44 0.004
Main 150.00 156.00 6.00 0.63 0.47 0.048
1. Width refers to intersection width; true widths have not been determined.
2. CuEq (copper equivalent) has been used to express the combined value of copper and molybdenum and is
provided for illustrative purposes only. No allowances have been made of recovery losses that may occur should
mining eventually result. Calculations use metal prices of US$3.00/lb copper, US$10/lb molybdenum using the
formula: CuEq% = Cu% + (Mo% [$10/$3])
Borehole Locations (Figure 1)
HM27 was drilled northwards from the river in the Pit 4 target area, to identify the
northward limit of the surface mineralization present here (Figure 1).
HM28 was drilled towards the southwest in the Pit 3 target area to determine the
western limit of the high-grade mineralization present here.
HM29 was positioned between the Pit 1 and Pit 2 target areas and drilled
approximately eastwards to test the extension of >0.3% Cu mineralisation between
the Pit 1 and Pit 2 target areas.
HM30 and HM31/HM31R were drilled for the same reasons as well as to provide limits
to the 0.3% Cu contour in the east of the Pit 2 target. HM31 had to be abandoned at
104.54m and was redrilled with HM31R, following a 1m shift in the collar position.
Figure 1: Planview showing the positions of the boreholes being reported here.
Discussion of Pertinent Results
HM27
This shows relatively high-grade mineralisation (0.47% Cu) from surface to about 14m
down-the-hole, correlating with significant malachite staining seen on a small hillock
to the north of the borehole. These combined with results previously reported for
HM02 and HM03 located east of HM27, point to higher grade mineralisation being
associated with at least 2 near vertical structures with widths >40m.
HM28
This hole was drilled through the high-grade mineralisation in the Pit 3 area returning 64m
at 0.61% CuEq (0.60% Cu) including 16m at 0.79% CuEq. This high -grade
mineralisation was shown to be some 40m closer to surface than expected.
HM29
This had been placed to test the extension of mineralisation between the Pit 1 and Pit
2 target areas. Cu grades in HM29 are maintained at over 0.3% from surface for
approximately 100m below topography demonstrating that the >0.3% mineralisation
extends over 150m between Pit 1 and Pit 2.
HM30
Grades returned for HM30 were lower than expected. This resulted in the interpreted
position of the 0.3% Cu contour being shifted laterally westwards by some 40m with
an associated drop in the tonnage of material above this grade.
HM31R
The results show that not only was this hole drilled wholly within the 0.3% Cu contour
as expected, but that the existing 0.4% Cu contour extends laterally for some 50m
more than expected.
Drilling Program Update
Twenty-two holes were completed in 2021 and by the time the licence renewal was
declined in June 2021, samples for 19 holes had been submitted to the laboratory. Results
for eight holes were disclosed by June 2021, a further 6 holes are disclosed here, while
the remaining six will be disclosed upon completion of their QA/QC. The program was
planned for 10,000 metres, of which 4,800 meters was completed in 2021. The remaining
5,200 metres will be completed as soon as the site preparation is one. At 1.8 billion years
(Archean), the Haib Copper Deposit is one of the oldest deposits in the world. Over time,
it has seen several transformations including shearing and faulting events that have further
concentrated Cu and Mo.
The specific focus of this drilling campaign is to further delineate and grow the higher-
grade area(s) of the Haib deposit uncovered by Deep-South in 2019 and 2020 with the
ultimate goal of establishing a measured resource over that higher-grade section of the
deposit.
Quality Control
All drill cores were logged, photographed, and cut in half with a diamond saw. Half of the
cores were bagged and sent to ALS Laboratories Ltd. in Johannesburg, South Africa for
analysis (SANAS Accredited Testing Laboratory, No. T0387), while the other half was
quartered with one quarter archived and stored on site for verification and reference
purposes while the other quarter will be used for metallurgical test work. 33 elements are
analyzed by Induced Coupled Plasma (ICP) utilizing a 4 -acid digestion and gold is
assayed using a 30g fire assay method. Duplicate samples, blanks, and certified
standards are included with every batch and are actively used to ensure proper quality
assurance and quality control.
About the Haib Copper Project
The Haib Copper Deposit is a large copper/molybdenum deposit situated 40 kilometers
from the southern boundary of Namibia. The license covers 370 square kilometers (37,000
hectares). Over the years the project has seen 70,000 meters of drilling, several
metallurgical test work programmes, geophysical surveys, geological mapping, mine
modeling and even a feasibility study in 1996. Deep-South holds all the historical data.
Please note that: Mineral Resources that are not mineral reserves do not have demonstrated
economic viability. Mineral resource estimates do not account for mineability, selectivity, mining
loss and dilution. These mineral resource estimates are based on Indicated Mineral Resources that
are considered too speculative geologically to have the economic considerations applied to them
that would enable them to be categorized as mineral reserves. However, there is no certainty that
these indicated mineral resources will be converted to measured categories through further drilling,
or into mineral reserves, once economic considerations are applied. There is no certainty that the
preliminary economic assessment will be realized.
Qualified Person
Mr. Dean Richards Pr.Sci.Nat. , MGSSA – BSc. (Hons.) Geology, is the Qualified Person
for the Haib Project as defined by National Instrument 43-101 and has approved the
technical disclosure contained in this news release.
About Deep-South Resources Inc.
Deep-South Resources is a mineral exploration and development company. Deep-South’s
growth strategy is to focus on the exploration and development of quality assets in
significant mineralized trends and in proximity to infrastructure in stable countries. The
Company holds the Haib Copper Project in Namibia and holds an interest in three
exploration licences in the Copperbelt in Zambia. In using and assessing environmentally
friendly technologies in the development of its copper projects, Deep-South embraces the
green revolution.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This press release contains certain "forward-looking statements," as identified in Deep- South’s periodic
filings with Canadian Securities Regulators that involve a number of risks and uncertainties.
There can be no assurance that such statements prove to be accurate and actual results and future
events could differ materially from those anticipated in such statements.
This News Release contains forward-looking statements, which relate to future events. In some cases, you
can identify forward-looking statements by terminology such as "will", "may", "should", "expects", "plans", or
"anticipates" or the negative of these terms or other comparable terminology. All statements included herein,
other than statements of historical fact, are forward looking statements, including but not limited to the
Company’s plans regarding the Haib Copper project. These statements are only predictions and involve known
and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of
activity, performance or achievements to be materially different from any future results, levels of activity,
performance, or achievements expressed or implied by these forward-looking-statements. Such uncertainties
and risks may include, among others, actual results of the Company's exploration activities being different
than those expected by management, delays in obtaining or failure to obtain required government or other
regulatory approvals or financing, inability to procure equipment and supplies in sufficient quantities and on a
timely basis, equipment breakdown and bad weather. While these forward -looking statements, and any
assumptions upon which they are based, are made in good faith and reflect the Company's current judgment
regarding the direction of its business, actual results will almost always vary, sometimes materially, from any
estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as
required by applicable law, the Company does not intend to update any forward-looking statements to conform
these statements to actual results.
More information is available by contacting Pierre Léveillé, President & CEO at
+1-819-340-0140 or at: [email protected] or
Paradox Public Relations at +1-514-341-0408.