Kaoko Metals reports copper mineralisation in Namibia drilling

Kaoko Metals has reported significant copper mineralisation during its maiden diamond drilling program at the Otniel prospect, part of the Chalkos copper-silver project in Namibia. The first two drill holes intersected broad zones of visible copper minerals, including chalcocite, malachite, cuprite, native copper, and chalcopyrite. One hole returned 60.25 metres of mineralisation, while the second returned 51.83 metres.

Following these results, Kaoko Metals' share price on the Australian Securities Exchange (ASX) surged by approximately 160% in a single afternoon, contributing to a nearly 390% gain since its IPO. The rapid price movement prompted the ASX to issue a price and volume query, colloquially known as a ‘speeding ticket’, to determine if the company was aware of any information explaining the trading activity.

Drilling continues at the site to test the extent of the Otniel system, with further holes planned to test extensions to the west and south before moving to the Donkey Hill target.