Golden Deeps has agreed to acquire an 80% interest or 800 shares of Australian company Namex Pty Ltd, which owns the Namibian company, Metalex Mining and Exploration Pty Ltd.
Metalex owns four 8546, 8547, 8548 and 8643 in the Otavi Mountain Land of Namibia.
Golden Deeps agreed to pay US$250,000 on or before March 31, 2025.
The acquisition increases the company’s holdings by 390 sq.km to over 440 sq.km in the world-class Otavi Mountain Land Metallogenic Belt.
The previous/historical exploration of the project included soil and rock chip geochemical surveys, electrical geophysical programs, and reverse circulation and diamond drilling programs focused on key prospect areas.
The Otavi Mountain Land hosts significant deposits such as the Tsumeb mine, which produced 27 @ 4.3% copper, 10% lead, 3.5% zinc, 95 g/t silver and 50 g/t germanium.
The project adjoins the company’s existing critical metals projects, which include the Khusib Springs high-grade copper-silver, antimony, and germanium deposit, the Nosib copper-vanadium-lead-silver-gallium deposit and the Abenab vanadium-lead-zinc deposit.
It includes zinc-lead-silver mineral resources at the Border advanced prospects, Driehoek and Kaskara.
Previous and historical reverse circulation and diamond drilling, predominantly by Sabre Resources Ltd, defined the Border sulphide mineralisation over a 2.4km strike length and to 300m below the surface, with the bulk of the mineralisation occurring in the top 150m.
Eland Exploration, Goldfields Ltd and Sabre carried out previous and historical exploration at Driehoek.
This work included extensive trenching, channel sampling, reverse circulation, and diamond drilling.
Previous exploration by Sabre, predominantly from 2008 to 2012, identified mineralisation at Kaskara, which includes intensely brecciated pipes and lenses that carry high-grade vanadium with lead, zinc, and copper in the secondary vanadate minerals.
Golden Deeps’ immediate exploration will focus on copper-lead-zinc-silver targets, including further sampling of identified target areas, geophysics and drilling of defined targets.
Programs to increase mineral resources in the combined project areas will then follow.
Golden Deeps CEO Jon Dugdale says the acquisition of the Central Otavi Critical Metals Project provides exciting opportunities ranging from near-term resource expansion and development options to multiple targets for copper-lead-zinc-silver discovery with antimony, germanium and gallium potential.
Dugdale also says the acquisition adds to existing critical metals Mineral Resource projects at Nosib, Khusib Springs and Abenab and increases the company’s holdings by 390 square km to over 440 square km in the world-class Otavi Mountain Land Metallogenic Province. According to Dugdale, Golden Deeps will immediately commence exploring the identified targets of this highly prospective tenement package.
“The initial focus will be copper-lead-zinc-silver targets with germanium and gallium potential and will include further sampling, geophysical programs and drilling of selected targets.
“This will be followed by programs aimed at Mineral Resource expansion and upgrade over the combined projects,” Dugdale says.
