Cobre Limited: Encouraging New Targets Identified on Kitlanya West Project

Sydney, Australia - Cobre Ltd. (ASX:CBE) is pleased to announce results from the recently completed Aircore (AC), Reverse Circulation (RC) and soil sampling programmes on the Kitlanya West Project (KITW) in the Kalahari Copper Belt (KCB), Botswana. The ca. 12,000m drill programme was designed to test for anomalous copper at the bedrock contact below cover as well as determining underlying lithology, stratigraphy and cover thickness across the extensive project area, key for understanding the position of potential copper-silver bearing trap-sites:

- Infill RC drilling at the Tlou fold target has returned consistent anomalous bedrock copper results increasing the target size to 4km x 1.2km;

- RC traverses have confirmed the presence of anomalous copper associated with:

o Hinge zones of several interpreted anticlinal features opening up the potential for sizeable fold related trap-sites for copper-silver deposits;

o Key redox contacts confirming contact position and presence of copper in the system;

o Major structures which may have provided the fluid pathways for copper-rich fluids during deposit formation;

- Soil sample results add further support to the developing targets after normalising for cover thickness variations determined from drilling;

- A larger analogue to the Tlou fold target has been identified in magnetic data highlighting the potential for multiple comparable fold targets in the project area.

The targets generated from the current phase of work will be further prioritised using the recently completed Airborne Gravity Gradient (AGG) survey data which is expected to provide information on basin architecture, structure and potential trap-site targets for copper-silver deposits. Priority targets will then be drill tested using a combination of RC and diamond drilling.

Commenting on the KITW results, Adam Wooldridge, Cobre's Chief Executive Officer, said:

"The KITW project offers enormous potential for new discoveries in the KCB. We're particularly encouraged by the evidence of mineralisation associated with fold and shear targets which presents an opportunity for larger deposits. The new targets identified in the recent programme provide compelling additions to our ongoing exploration on the northern KCB margin which has the scale to produce a new copper district. We look forward to providing further updates from the AGG results due shortly."

187 shallow AC and RC holes totalling 11,971m were completed between April and October 2023 on the KITW project. Each of the holes were designed to test for anomalous copper at the base of the Kalahari Group cover and top of underlying bedrock as well as providing important lithostratigraphic information to assist with geological interpretation of airborne magnetic data. Drill results also provided a means for testing soil sample anomalies and calibrating soil sample (~18,000 samples) results for variations in cover thickness which were extrapolated from drill positions using airborne electromagnetic conductivity sections.

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About Cobre Limited:

Cobre Ltd. (ASX:CBE) is a copper and base-metals explorer with projects in Western Australia and Botswana. The Company recently discovered a new high-grade VMS deposit enriched in Copper, Gold, Zinc and Silver in Western Australia, and is currently exploring approximately 8,100 km2 of tenements within the Kalahari Copper Belt (KCB) in Botswana.

Source:
Cobre Ltd.

Contact:

Cobre Ltd. Martin Holland E: info@cobre.com.au WWW: www.cobre.com.au