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Namibian Copper NL (NCO)
is a publicly listed company on the Australian Securities Exchange (ASX).
About 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 sector.
The Company's focus is the Ongombo Project situated in central Namibia, 22km northeast of the Otjihase copper mine, and 45km northeast of the capital Windhoek. In January 2012 the Company announced a maiden JORC compliant Inferred Resource for Ongombo of 7.25 million tonnes at 1.7%Cu and 8g/t Ag at a 1.0% Cu cutt off, for 270 million lbs copper and over 1.8 million ozs silver.
At the 0.6% Cu cut-off the JORC compliant resource for Ongombo includes an inferred resource of 3.75 million tonnes (Mt) at 1.70% Cu, 9g/t Ag and 0.32g/t Au, and a measured and indicated resource of 6.71 million tonnes (Mt) at 1.52% Cu and 8g/t Ag, for a total 10.46Mt at 1.59% Cu and 8g/t Ag. A further exploration target of 10-12Mt at 1.6-1.8% Cu has been identified.
The Company continues to search for outstanding projects that will add considerably to its portfolio of projects. All potential commercialisation options for the Company's assets will be considered with the ultimate aim of creating and maximising shareholder value.
The Company's strategy is to maximise shareholder value through the investigation and acquisition of world class projects and the exploration of those projects.
The Ongombo property is situated in central Namibia, 22km northeast of the Otjihase copper mine, and 45km northeast of the capital Windhoek. 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.
There is a total of 18 individual ore bodies that have been recognized 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.
Namibian Copper NL
66 Kings Park Road
West Perth, WA
+61 8 6141 3500
Fax: +61 8 6141 3599
The General Overview, Services, Products and Projects information for this profile was last edited on 10 Jun 2015.