Deep South Resources’ Haib Copper License EPL 3140 was renewed by the Namibia’s Ministry of Mines and Energy renewed on Friday July 7 2023.
The license is valid for a period of two years from the date it was renewed. Commenting on the renewal, Pierre Leveille, President & CEO of Deep South said that it was good news and that the Board of Directors and Management of Deep-South were very pleased to be back at Haib. “We have begun preparations to commence the work program and resume the development of the projects as soon as possible. The plan and further information will be disclosed to our shareholders in due course,” Leveille said. He added that, With the scarcity of major copper developments on the horizon, Haib’s promise as a significant undeveloped deposit.
About Haib Copper
Haib Copper is a large copper/molybdenum deposit situated 40 kilometers from the southern boundary of Namibia. The license covers 370 square kilometers (37 000 hectares). Over the years the project has seen 70 000 meters of drilling, much metallurgical test work, geophysical surveys, geological mapping, mine modeling and even a feasibility study in 1996. Deep-South holds all the historical data. In June 2021, when the license renewal was denied Deep-South was underway to complete a 10 000 meters drilling program, was starting more metallurgical test work and was starting an updated resource estimation that was to serve for a feasibility study. The development program will resume as soon as possible. “We acknowledge the patience and strong support of our shareholders and stakeholders through this long journey. We would also like to thank the Minister and team for their diligence in renewing the license in a timely fashion,” Leveille concluded.
Source: mining-news.co.za
