INV Metals expands mineralization at Okohongo target in Namibia
Published: 13:29 17 Mar 2011 GMT
INV Metals (TSE:INV) has expanded its Okohongo target at the Kaoko property in northwestern Namibia, the company said Thursday.
The results from a second phase of drilling at Okohongo have not only extended the deposit, but have also shown the potential for numerous targets at the site to host similar widths of high grade copper and silver mineralization, said Toronto-based INV.
"The second phase drill results at Okohongo are very encouraging and indicate that this near surface deposit hosts copper-silver mineralization that extends over 600 metres in strike length and up to 400 metres down dip, including a thicker, high-grade zone over at least 200 metres of strike," said CEO Robert Bell.
Indeed, notable intersections from the drilling include hole 37, which returned 31 metres grading 1.8% copper and 40.6 g/t silver, including 15 metres at 2.8% copper and 67.7 g/t silver. This hole, said the company was drilled 100 metres north of previous hole 6, which intersected 45 metres grading 2.0% copper and 27.1 g/t silver.
Meanwhile, hole 36 returned 1.1% copper and 18.6 g/t silver over 10 metres, extending the deposit down dip up to 400 metres.
INV said the mineralization at the deposit appears to be open both along strike, and at depth, and the company plans on launching a 2,800 metre drill program at Okohongo in April to assess the prospect of establishing an initial inferred resource.
"The potential for additional, proximate, high-grade copper-silver deposits in similar geological environments is substantial," added Bell.
In addition to the Okohongo drilling, an aggressive two drill program will also begin in April at the Oruvandjai target. Regional mapping and geochemical field work is now underway to further evaluate the 8,750 sq kilometre property for additional targets in the northwestern portion.
INV, which has properties across Brazil, Namibia and Canada, has the right to earn a 50% interest in the Kaoko project under an agreement with Teck Resources.
