Kunene Cobalt-Copper Project

Namibia is host to a new discovery of cobalt mineralization following the recent exploration success led by Dr. Rainer Ellmies (General Manager, Gecko Exploration and Senior Geological Advisor to NMI) to explore for “copper belt” style deposits in the Kunene Region of northern Namibia. The Opuwo discovery is situated immediately east of NMI’s project area on ground held by Celsius Resources ( ASX :CLA) and has a current JORC resource of 72.0 million tonnes at a grade of 0.11% cobalt, 0.42% copper and 0.41% zinc in the Indicated category, and 40.5 million tonnes at a grade of 0.12% cobalt, 0.41% copper and 0.46% zinc in the Inferred category. Mineralization is uniformly 5 to 10 meters thick within a dolomitic shale horizon termed the dolomitic ore formation (“DOF”). It is noted that the mineralization on the Celsius property may not be indicative of mineralization that may be found on the Kunene project area held by Namibia Critical Metals.

The Kunene Cobalt-Copper Project comprises a very large area of favorable stratigraphy along strike to the west of the Opuwo deposit. Secondary copper mineralization over a wide area points to preliminary evidence of a regional-scale hydrothermal system. Exploration targets on EPLs held in the Kunene project comprise direct extensions of the DOF style mineralization to the west, sediment-hosted cobalt and copper, orogenic copper, and stratabound Zn-Pb mineralization. Most of the occurrences are likely spatially related to what Dr. Ellmies’ geological team has interpreted as a large hydrothermal center termed the Steilrand hydrothermal system. There is considerable scope for further discoveries both along strike of the Celsius discovery and in equivalent stratigraphy elsewhere on the property. Initial investigations will trace the western extension of the DOF which may continue for over 20 km in the project area and will follow up on numerous copper-cobalt targets drilled in the past but never analyzed for cobalt.