Deep-South Updates Copper Exploration Projects IN the Heart of the Zambia Copper Belt
DEEP-SOUTH UPDATES COPPER EXPLORATION PROJECTS IN THE
HEART OF THE ZAMBIA COPPER BELT
VANCOUVER, BC
,
Oct. 18, 2022
/CNW/ - Deep-South Resources Inc. ("
Deep-South
" or the Company) (TSXV: DSM) provides projects update on the
exploration programs on the exploration licences in
Zambia
. On
July 6, 2022
, Deep-South announced the closing of an option agreement to acquire up to an 80%
undivided interest in three copper Large Scale Exploration Licences (the "Licences") in the center of the Zambian Copper belt, one of the most prolific copper
belts in the world. (See the press release here:
https://www.deepsouthresources.com/investors/news-releases/deep-south-to-acquire-up-to-80-of-three-copper-exploration-licences-in-the-heart-of-the-zambia-copper-belt-2/0
)
Recent Highlights:
Environmental projects Briefs filed and awaiting approvals
3,627 geochemical soil samples planned
Update on the projects:
Deep-South has filed with the Zambia Environmental Management Agency ("ZEMA") Project Environmental Briefs ("EPB") for each licences on
July 21, 2022
. We
are awaiting the approval of ZEMA in order to start sampling programs on the licences.
A sampling contractor will be appointed by
October 18, 2022
and will be in a position to start the work program upon approval by ZEMA
The program:
The program consists of geochemical soil sampling on each licence with the aim to identify anomalies and define drilling targets.
Luanshya West
Project
(licence 23246):
The licence is situated in the center of the Zambian Copper belt and covers 5,423.26 hectares (54.24 Sq. Km). The project prospectivity is based on the location
of the subject property over the unconformable contact zone between basement granites and Lower Roan Group sediments where most copper belt mines in both
Zambia
and the
Democratic Republic of Congo
(the "DRC") are located. Some 850 soil samples and some geophysical data were collected over the subject
property by Teal (a subsidiary of African Rainbow Minerals Ltd) between 2007 and 2009. Those have enabled to identify at least four large anomalies.
The program consist of 820 soil samples
collected in an identical manner to the original Teal's sampling program. The sampling grid will be 500 x 100 metres.
The program will be completed in about 30 days.
The project area is close to established copper / cobalt mines with Chibuluma mine some 35Km to the north-east, Chambishi mine 41Km north-northeast,
N'changa mine 53Km north-northwest and Luanshya mine some 40Km east-southeast from the centre of the project area.
A National Instrument 43-101
Standards of Disclosure for Mineral Projects
("43-101") compliant technical qualifying report is available on SEDAR at
www.sedar.com
under Deep-South's profile or on the Company's web site:
www.deepsouthresources.com
Chililabombwe Project
(licence 23247):
The licence is situated in the north of the Zambia Copper belt near the DRC border. The Large Exploration Licence covers 2,200 hectares (22.5 Sq, Km). The
project prospectivity is based on the location of the subject property over the unconformable contact zone between basement granites and Lower Roan Group
sediments where most copper belt mines in both
Zambia
and the DRC are located.
The program consist of 132 soil samples
on a grid of
500m
by
100m
. It has been designed to search for copper anomalies using a soil-geochemistry survey,
particularly termite mounds sampling will be employed on this grid.
DEEP-SOUTH UPDATES COPPER EXPLORATION PROJECTS IN THE HEART OF THE ZAMBIA COPPER BELT (CNW Group/Deep-South Resources Inc.)
Mpongwe Project
(licence 23248). The licence is situated in the center of the Zambian Copper belt. The Large Exploration Licence covers 67,500 hectares (675
Sq. Km). The project prospectivity is based on the location of the subject property over the unconformable contact zone between basement granites and Lower
Roan Group sediments where most copper belt mines in both
Zambia
and the DRC are located.
The program consist of 2,675 soil samples
on a grid of
500m
by
100m
. It has been designed to search for copper anomalies using a soil-geochemistry survey.
DEEP-SOUTH UPDATES COPPER EXPLORATION PROJECTS IN THE HEART OF THE ZAMBIA COPPER BELT (CNW Group/Deep-South Resources Inc.)
No Mineral Resources have been estimated on these projects as they have not demonstrated economic viability at this stage
. The historical geophysical survey
and sampling results demonstrate potential to classify the Luanshya West project as one of merit but
are considered
too speculative geologically to complete a
NI 43-101 compliant resource estimation at this time and it is uncertain that those historic results will be converted into minerals resources.
Qualified Person
Vivian Suart-Willams MSc (Hons.) Pr.Sci.Nat., Vice-President Exploration of Deep-South Resources, has reviewed the technical content of this presentation, and
is the designated Qualified Person under the terms of National Instrument 43-101. Mr. Stuart-Williams is responsible for the technical part of this press 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. In using and assessing environmentally friendly technologies in
the development of its copper project, 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.
Caution Regarding Forward-Looking Information
Information contained in this news release which are not statements of historical facts may be "forward-looking information" for the purposes of Canadian
securities laws. Such forward-looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects and
opportunities to differ materially from those expressed or implied by such forward looking information. The words "believe", "expect", "anticipate",
"contemplate", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule", "understand" and similar expressions identify forward-looking
information. These forward-looking statements relate to, among other things: the Minister's of Mines and Energy of
Namibia
refusal to renew the Company's
Licence, the Company's intention to contest the Minister's decision before the Courts of
Namibia
and the outcome of such proceedings.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by Deep-South, are
inherently subject to significant technical, political, business, economic and competitive uncertainties and contingencies. Known and unknown factors could
cause actual results to differ materially from those projected in the forward-looking information. Factors and assumptions that could cause actual results or
events to differ materially from current expectations include, among other things: political risks associated with the Company's operations in
Namibia
; the
failure of the Namibian Government to comply with its continuing obligations under the Act to allow for the renewal of the Licence; the impact of changes in, or
to the more aggressive enforcement of, laws, regulations and government practices; the inability of the Company and its subsidiaries to enforce their legal
rights in certain circumstances. For additional risk factors, please see the Company's most recently filed Management Discussions & Analysis available on
SEDAR at
www.sedar.com
.
There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors and future events, both known and
unknown could cause actual results, performance or achievements to vary or differ materially from the results, performance or achievements that are or may
be expressed or implied by such forward-looking statements contained herein or incorporated by reference. Accordingly, all such factors should be considered
carefully when making decisions with respect to Deep-South, and prospective investors should not place undue reliance on forward looking information.
Forward-looking information in this news release is made as at the date hereof. The Company assumes no obligation to update or revise forward-looking
information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by
applicable legislation.
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For further information:
More information is available by contacting Pierre Léveillé, President & CEO at +1-819-340-0140 or at: [email protected]
CO: Deep-South Resources Inc.
CNW 09:00e 18-OCT-22