Cobre (ASX:CBE) said results from its infill resource drilling at the Comet target on its wholly-owned Ngami copper project in Botswana identified a zone of copper-silver mineralization, according to a Tuesday Australian bourse filing.
Significant intercepts encountered during the drilling included 18.73 meters at 0.53% grade of copper and 11 grams per tonne grade of silver from 264.85 meters to 283.58 meters downhole, as well as 16.33 meters at 0.52% grade of copper and 14 g/t grade of silver from 419.06 meters to 435.39 meters downhole.
The firm contracted Australia-based WSP to complete a mineral resource estimate for the project.
Its shares fell 12% on market close, earlier falling to their lowest point in over two years.
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