The program was interrupted when the
As the license has been renewed on
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
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
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
About the
The Haib Copper Deposit is a large copper/molybdenum deposit situated 40 kilometers from the southern boundary of
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.
About
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.
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