The team at Deep-South Resources (TSX.V: DSM) is actively involved in the acquisition, exploration, and development of major mineral properties in Africa. Join President & CEO, Pierre Leveille, Thursday June 10 at 2pmET/11amPT, for a live webinar hosted by Red Cloud Financial Services Inc. He will be discussing the Haib Copper deposit in the south of Namibia and more. Register now: https://lnkd.in/eXnGG3H
2021-06-10 08:04 ET - News Release Mr. Pierre Leveille reports DEEP-SOUTH INTERSECTS 156 METRES OF 0.46% CUEQ, INCLUDING 24 METRES OF 0.65% CUEQ FROM 26 METRES DEEP Deep-South Resources Inc. has provided the second batch of assay results from its current drilling program at its Haib copper project in southern Namibia. Significant copper and molybdenum intersections include: HM03: 0.46 per cent copper equivalent over 156 metres, including 24 metres at 0.65 per cent copper equivalent; HM02: 0.39 per cent CuEq over 74 metres, including six metres at 0.73 per cent CuEq; HM04: 0.43 per cent CuEq over 26 metres, including four metres at 0.87 per cent CuEq. Pierre Leveille, president and chief executive officer of Deep-South, stated: "We continue to have success with our active drill program identifying thick, higher-grade zones. We are consistently intercepting significantly higher grades than the average grade of our NI [National Instrument] 43-101 indicated resource that stands at 0.31 per cent Cu. The higher-grade zone in pit 2 extends significantly further west and at depth than previously demonstrated. It's increasingly apparent that the use of vertical drilling in the past missed many of the near-vertical structures contained within the broader mineralization of the project. Those near-vertical structures so far are proving to be associated with a higher grade of copper than contained within the current resource. Additionally, the presence of molybdenum has been confirmed with high Mo grades obtained in association with structures and alterations." These three holes for which assay results have been received cover about 684.11 metres and were drilled on the central mineralized portion of the deposit to better delineate the extension of this zone to other mineralized areas located to the northwest and southwest. The holes have successfully encountered intercepts of mineralization from bedrock or near bedrock surface. Assay results for the holes are in the attached table. Hole From To Width CuEq Cu Mo No. Zone (m) (m) (m) (1) (%) (2) (%) (%) HM02 Main 64 86 22 0.4 0.4 0.001 Including 80 84 4 0.95 0.95 0.001 Main 110 184 74 0.39 0.35 0.013 Including 118 124 6 0.72 0.66 0.017 Including 162 168 6 0.73 0.56 0.05 Main 216 238 22 0.43 0.4 0.009 HM03 Main 26 182.5 156.5 0.46 0.41 0.015 Including 26 38 12 0.61 0.59 0.006 Including 100 130 30 0.58 0.5 0.023 Including 136 148 12 0.6 0.57 0.01 Including 152 176 24 0.65 0.64 0.004 HM04 Main 176 182 6 0.5 0.44 0.017 Main 194 204 10 0.41 0.41 0.001 Main 212 238 26 0.43 0.4 0.008 Including 232 236 4 0.87 0.76 0.034 1. Width refers to intersection width; true widths have not been determined. 2. CuEq (copper equivalent) has been used to express the combined value of copper and molybdenum and is provided for illustrative purposes only. No allowances have been made of recovery losses that may occur should mining eventually result. Calculations use metal prices of $3 (U.S.) per pound copper, $10 (U.S.)/lb molybdenum using the formula: CuEq per cent is equal to Cu per cent plus (Mo per cent ($10 divided by $3)). Borehole locations From a figure available on-line it can be seen that all three holes were located in the pit 2 target with HM03 testing the westward extension of the higher-grade portions and HM02 and HM04 the extension of the same northwestward toward the pit 3 target. These drill holes have significantly widened (up to 70 m) the 0.3 per cent and 0.4 per cent Cu pit shells within the top 250 m of the resource. Holes HM02 and HM03 Located on a north-south section line on the western edge of the pit 2 target, HM03 was positioned to test the westward extension of the higher-grade portion of this target while HM02 tested the extension toward pit 3 to the northeast. HM03 encountered good grades almost from surface, which continued for over 156 m to the end of the hole. HM02 shows that the higher-grade zone in pit 2 extends significantly farther west than previously demonstrated as well as with depth. Mo grades are highly variable from a low of 0.001 per cent to a high of 0.149 per cent, but averaging 0.014 per cent over the full length. Results from HM02 show that although the 0.3 per cent Cu contour extends unbroken between pit 2 and pit 3, the 0.4 per cent Cu contour does not. Additionally, the 0.3 per cent Cu contour extends about 40 m farther toward the northeast than demonstrated previously, as well as with depth. Mo grades are muted for most of the hole (mean of 0.006 per cent) with two intervals returning Mo grades of over 0.05 per cent. Hole HM04 Also drilled on the pit 2 target, HM04 was planned to test the extension of the 0.4 per cent Cu contour northward as well as the continuity of the contour between pit 2 and pit 3. Results were very similar to HM02, demonstrating that (1) the 0.4 per cent Cu contour is broken between pit 2 and pit 3; (2) the limit of the 0.3 per cent Cu contour is significantly larger than previously demonstrated; and (3) the 0.3 per cent Cu contour is continuous with depth. Significant Mo grades are almost entirely absent with the hole and had a mean Mo grade of 0.003 per cent for its full length. Drill program update Three drill rigs are active on the property. Nineteen holes have been completed and two holes are currently in progress. Results for eight holes have been received and released. A further 11 holes have been completed, processed and submitted to the lab for assay with results pending. The program is planned for 10,000 metres, of which 40 per cent has been completed to date. The Haib copper deposit is one of the oldest porphyry deposits in the world at 1.8 billion years old (Archean). Over time, it has seen several transformations resulting in shearing and faulting events. Those events have concentrated the mineralization along the shears and faults. The specific focus of this drilling campaign is to further delineate and grow the higher-grade zone(s) of the Haib deposit uncovered by Deep-South in 2019 with the ultimate goal of establishing a measured resource over that higher-grade section of the deposit. The company also plans to drill a number of holes to depths greater than 350 meters to test the vertical extent of the deposit. The MSA Group of South Africa has been appointed to provide an updated NI 43-101 resource estimation after the drilling program completion. Quality control All drill cores are logged, photographed and cut in half with a diamond saw. Half of the cores are bagged and sent to ALS Laboratories Ltd. in Johannesburg, South Africa, for analysis (SANAS Accredited Testing Laboratory, No. T0387), while the other half is quartered with one-quarter archived and stored on site for verification and reference purposes while the other quarter will be used for metallurgical test work. Thirty-three elements are analyzed by induced coupled plasma (ICP), utilizing a four-acid digestion, and gold is assayed using a 30-gram fire assay method. Duplicate samples, blanks and certified standards are included with every batch and are actively used to ensure proper quality assurance and quality control. About the Haib copper deposit The Haib copper project hosts a porphyry copper deposit containing an NI 43-101-compliant indicated resource estimate of 457 million tonnes at 0.31 per cent Cu for 3.12 billion lb copper and an inferred resource estimate of 342 million t at 0.29 per cent Cu for 2.19 billion lb copper. Deep-South disclosed a robust preliminary economic assessment (PEA) on Dec. 15, 2020. The press release disclosing the NI 43-101 resource estimation and the PEA reports can be seen at the company's website. Source : https://www.stockwatch.com/News/Item/Z-C!DSM-3096677/C/DSM
Deep-South Resources halted at 5:56 a.m. PT 2021-06-14 09:01 ET - Halt Trading Deep-South Resources Inc. has been halted at 5:56 a.m. PT on Monday, June 14, 2021, at the request of the company, pending news. © 2021 Canjex Publishing Ltd. All rights reserved.
Deep-South Resources (CVE: DSM-OTC: DSMTF) President and CEO Pierre Léveillé, joined Stephen Gunnion from Proactive with detail of the second batch of assay results from the company's current drilling programme at its Haib copper project in southern Namibia. Léveillé, telling Proactive that Deep-South continues to have success with its active drill program identifying thick, higher-trade zones.
2021-06-16 16:02 ET - News Release Mr. Pierre Leveille reports UPDATE ON DEEP-SOUTH HAIB COPPER LICENCE RENEWAL Deep-South Resources Inc. has received notice from the Ministry of Mines and Energy of Namibia informing the company that its application for the renewal of exclusive prospecting licence No. 3140 has been denied, citing the company's inability to advance the licence to prefeasibility and complete the proposed drilling program as planned. The company has requested an urgent meeting with the Minister of Mines and Energy to review and reverse the decision. The company is convinced it is a misunderstanding. The minister has accepted a meeting to discuss the matter. The meeting should take place early next week. The company maintains that the ministry was kept well apprised, with no objection on its part, of a proposed change from the prefeasibility study to an upgraded preliminary economic assessment and the commencement of a full feasibility study. Moreover, the ministry issued all permits required for the drilling program and is well aware that Deep-South has completed the drilling program. Pierre Leveille, president and chief executive officer of Deep-South, stated: "In the context that the company is well funded and moving ahead with a large development program, the decision of the minister is surprising and certainly not in the best interest of the development of the mineral resources of Namibia. We believe that a meeting with the minister will remove any possible misunderstanding and the situation will be rectified in the shortest time frame possible. We are hopeful that our efforts to meet with the minister will reach a positive outcome." In its application for renewal and subsequent representations made to the ministry, the company has clearly demonstrated that it adequately meets the criteria under the Minerals (Prospecting and Mining) Act (Namibia) to justify the renewal of its licence. Accordingly, the company is of the opinion that the refusal is unreasonable. The company has demonstrated to the minister that during the past two tenures (from April, 2017, to April, 2021), it has invested $2-million with the completion of, among other things: a National Instrument 43-101 resource estimate; a preliminary economic assessment; a large two-ton sampling and heap-leach test; geological mapping; modelling; and an upgraded preliminary economic assessment. Furthermore, in its renewal application, the company has proposed a feasibility study program with a budget of $7.1-million. The program was under way with three drills and 42 employees on site. METS and CSIRO (Commonwealth Scientific and Industrial Research Organisation) of Australia have also begun metallurgical tests, bioleaching, high-pressure grinding roller tests and a flowsheet optimization program in two laboratories in Australia. Knight Piesold also has four scoping studies under way, covering: water usage; alternative power solutions; leach pad assessment; and environmental path to the ESIA. The company has also informed the ministry that at the completion of the feasibility study, it is planning to build a pilot plant on site for an estimated cost of $25.5-million. As a result of the minister's refusal to renew the licence, the company has immediately suspended all work on site and hopes that the retrenchment of its employees will be avoided. About Deep-South Resources Inc. Deep-South Resources is a mineral exploration and development company. Deep-South's growth strategy is to focus on the exploration and development of quality assets in significant mineralized trends and in proximity to infrastructure in stable countries. In using and assessing environmentally friendly technologies in the development of its copper project, Deep-South embraces the Green Revolution. We seek Safe Harbor. Source: https://www.stockwatch.com/News/Item/Z-C!DSM-3099342/C/DSM
https://www.stockwatch.com/News/Item/Z-C!DSM-3099676/C/DSM Deep-South Resources to resume at open 2021-06-17 08:40 ET - Resume Trading Deep-South Resources Inc. will resume at the open on June 17, 2021.
VSM - DEEP SOUTH RESOURCES INC - http://www.deepsouthresources.com 10:00:35 EDT Size -------Bid - --------Ask -------Size ------Volume 92.0--------0.12--------0.125-------58.5-------4,158.6
DSM.V size------- bid------------- ask------------------ size------------- volume 545.5------0.12------------0.125----------------22.5---------------18,279.1 QSMTF - DEEP-SOUTH RESOURCES INC - U.S. 14:28:24 EDT DSMTF - Q--------last-----0.1045-----------volume-------880.6
