(TheNewswire)
Vancouver, B.C., Canada - TheNewswire - November 23, 2020 -Deep-South Resources Inc. (" Deep-South " or " the Company ") (TSXV:DSM). Announces that ithas entered into an agreement with Ferrodrill Namibia (Pty) Ltd inorder to proceed with the drilling program on the Haib Copper projectin the south of Namibia. Ferrodrill is a Namibian drilling contractorproviding full drilling services since 2007 and has provided servicesto a large number companies from exploration tomajor mining companies. The contract providesfor 5,000 meters of diamond drilling. Drilling planning andpreparation is on track and we will inform our shareholders of theschedule and complete program in due course.
The specific focus of the drilling campaign will be todrill the high-grade area of the deposit uncovered by Deep-South in2019. The overall program is planned to drill up to 12,000 meters inthe area. The first part of the program is to drill 5,000 meters withthe goal of infilling gaps in previous drilling to improve the averagegrade and expand the tonnage of this specific area and eventuallyestimate a measured resource for the area. The first part of thedrilling program will serve as a basis to plan the second phase of thedrilling program.
Prospectivity of the high-grade area is clearlydemonstrated by numerous drill intersections such as:
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-- HB026: 12m @1.81% Cu and 30 ppm MO from 38m
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-- HB041: 56m @0.76% Cu and 74 ppm MO from 18m
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-- GFMHB09: 40m @0.64% Cu and 75 ppm MO from 150m
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-- GFMHB10: 140m@ 0.62% Cu and 57 ppm MO from 20m
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-- GFMHB08: 230m @0.59% Cu and 64 ppm MO from 86m
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-- GFMHB07: 112m @0.52% Cu and 37 ppm MO from 14m
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-- HB092: 44m @0.53% Cu and 30 ppm MO from 60m
The Haib Copper deposit is a porphyry copper containinga NI 43-101 compliant indicated resource of 457 MT @ 0.31% Cu for 3.12billion lbs copper and an inferred resource of 342 MT @ 0.29% Cu for2.19 billion lbs copper. Deep-South has disclosed a robust PreliminaryEconomic Assessment (PEA) on May 20, 2020. The press releasedisclosing the NI 43-101 resource estimation and the PEA reports canbe seen here: https://www.deepsouthresources.com/deep-souths-pea-shows-robust-economics/
Please note that: MineralResources that are not mineral reserves do not have demonstratedeconomic viability. Mineral resource estimates do not account formineability, selectivity, mining loss and dilution. These mineralresource estimates are based on IndicatedMineral Resources that are considered toospeculative geologically to have the economic considerations appliedto them that would enable them to be categorized as mineralreserves . However, thereis no certainty that these indicated mineral resources will beconverted to measured categories through further drilling, or intomineral reserves, once economic considerations are applied. There is no certainty that the preliminaryeconomic assessment will be realized.
Mr. Dean Richards Pr.Sci.Nat. , MGSSA - BSc. (Hons.) Geology, ofObsidian Consulting Services is the contributing author of the 43-101resource estimation report and isresponsible for the technical part of this press release and is thedesignated Qualified Person under the terms of National Instrument43-101.
About Deep-South ResourcesInc.
Deep-South Resources Inc. is a mineral explorationcompany largely held by Namibian shareholders and Management -Directors with 19% and Teck Resources Ltd with 21% of Deep-South sharecapital.
Deep-South currently holds 100% of the Haib Copperproject in Namibia, one of the largest copper porphyry deposits inAfrica. Deep-South also holds an investment of 75% in the Kapili TepeCopper exploration project in Turkey.
Deep-South's growth strategy is to focus on theexploration and development of quality assets, in significantmineralized zones, close to infrastructure, in stable countries.
This press release contains certain"forward-looking statements," as identified in Deep- South'speriodic filings with Canadian Securities Regulators that involve anumber of risks and uncertainties.
There can be no assurance that suchstatements will prove to be accurate and actual results and futureevents could differ materially from those anticipated in suchstatements.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined inthe policies of the TSXVenture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
More information is available by contacting PierreLeveille, President & CEO at
+1-819-340-0140 or at: info@deepsouthresources.com or
Paradox Public Relations at +1-514-341-0408.
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