Namibian Copper NL

Namibian Copper NL

Namibian Copper NL (“Namibian Copper” or the “Company”) is a dedicated mineral explorer formed in 2006 for the purpose of exploration, development and investment in the resources section.
 

 

Ongombo Project

The Ongombo property is situated in central Namibia, 22km northeast of the Otjihase copper mine, and 45km northeast of the capital Windhoek (Figure 1). The Ongombo deposit was discovered by Johannesburg Consolidated Investment Company Limited in the early 1970’s by airborne magnetics. The gossanous magnetite quartzite outcrops for sporadic intervals over a strike length of 4.7km. Significant exploration was undertaken over the ensuing years, principally by Tsumeb Corporation Limited and Gold Fields Namibia Limited. The work included more than 132 diamond drill holes and resulted in the definition of four individual ore shoots.

Mineralisation at Ongombo is hosted by amphibolites and associated magnetitequartzites of the Matchless belt. The Matchless belt extends for 400 km through the intracratonic branch of the late Proterozoic Damaran orogenic belt. The Matchless amphibolites represent an intercalation of subsequently metamorphosed basic to intermediate submarine tholeiitic volcanic rocks. The Matchless belt hosts several volcanogenic-exhalative, stratiform and strata-bound cupriferous pyrite deposits containing subordinate and variable amounts of zinc, lead, silver and gold. The average grade of the ten most important deposits is 2.3% Cu, with a range of 1.3-3.9% Cu.

A total of 18 individual ore bodies have been recognized on the Matchless belt including the Gorob, Matchless, Otjihase, Ongeama and Ongombo deposits. Iron sulphides generally dominate the sulphide mineralogy of the deposits, pyrite being dominant. Chalcopyrite is the most important sulphide economically, although bornite, galena, sphalerite, and marcasite have been historically reported.

 

In January 2012 the Company announced the results of a resource evaluation undertaken by Coffey Mining of Johannesburg.  The maiden JORC compliant Inferred Resource for Ongombo was estimated to contain 7.25 million tonnes at 1.7%Cu and 8g/t Ag at a 1.0% Cu cutt off, for an estimated 270 million lbs copper and 1.8 million ozs silver (Table 1).  Although the resource estimate does not include gold, the weighted average gold grade of 0.32g/t for seven reported Goldfields holes and the two holes drilled by NCO implies good exploration potential for gold. The Coffey mineral resource estimation indicates the Ongombo resource has a similar style of mineralisation, and similar copper and silver grades to those presently being mined at the neighboring Otjihase mine. A grade/tonnage curve for the Ongombo deposit is shown in Figure 2, and the estimated distribution of copper grades at Ongombo are shown in Figure 3.

 

 

Table 1

Inferred Mineral Resources of the Ongombo Project

 

Resource Category

In situ tonnes and grade at 1% Cu cut-off

Tonnes (Millions)

Cu (%)

Ag (g/t)

Density (t/m3)

Central Shoot

2.47

1.8

8

3.04

East/Ost Shoot

4.78

1.6

8

3.37

Total

7.25

1.7

8

3.26

 

 

 

Figure 2
Grade/tonnage curve for the Ongombo Project

 

Figure 3

Estimated distribution of copper grades and Target Zones at Ongombo

Target 1 (blue); Target 2 (black); Target 3 (Green); Target 4 (Red)

 

 

 

Drilling and geophysical programs are planned with a view to extending the resource significantly.  The geophysical program will commence mid February, whilst the 14-hole 5,000m drilling program is anticipated to commence in April.  The geophysical program will be aimed at further defining the conductors in the area between the Central shoot and the East shoot around Section 11,100E.  The drilling program will be aimed at testing the 4 main targets recognized, namely the down plunge extension of the Ost shoot (Target 1, Figure 3), the down plunge extension of the Central shoot (Target 2, Figure 3), the up-dip extension of the Ost shoot between Sections 13,500 and 14,300E (Target 3, Figure 3), and the area between the Central shoot and the East shoot around Section 11,100E being investigated by geophysics (Target 4, Figure 3).