State-owned Epangelo Mining Company (Pty) Ltd. has announced promising mineral resource estimate (MRE) of 1,3 million ounces of gold at its Kokoseb project.
The project, to the north of Okombahe town, is a joint venture between Epangelo and Damaran Exploration, a wholly owned subsidiary of WIA Gold Limited.
According to the latest Chamber of Mines of Namibia newsletter, the MRE at Kokoseb is 1,3 Moz at 1,0 g/t gold, at a cut-off grade of 0,5 g/t within a US$1,800/ounce pit shell.
“The MRE has demonstrated very good continuity in grade and width along the mineralised sections from surface,” said the chamber.
The newsletter added that preliminary metallurgical test results returned excellent gold recoveries above 91% via a gravity and standard direct leach process, confirming the development potential for Kokoseb.
Kokoseb was first identified in May 2021, by a regional 500 by 500m soil-sampling programme that was completed over the licence.
A trenching programme, which commenced in September 2021, confirmed the mineralisation at Kokoseb, which was followed up by a small-scale diamond-drilling programme that was completed in early 2022.
“An RC drilling programme commenced at the end of the June quarter 2022, and has formed the basis of the MRE,” said the chamber of mines.
The dataset for the MRE, as of 10 May 2023, includes results from 12 diamond holes and 90 RC holes, totalling 19,496m of drilling, along with data from 10 trenches for 1,058m.
Several higher-grade plunging shoots have already been identified beneath the present pit outlines and these are currently being followed up to see if they can be added to the current resource estimate.
Geologically, Kokoseb lies within the northern central zone of the Pan-African Damaran orogenic belt around 15 kilometre south of the Otjihorongo thrust.
Metasediments of the Arandis, Karibib and Kuiseb Formations of the Swakop Group underlie the project area.
