FIRST SOIL SAMPLING ASSAY RESULTS ON THE LUANSHYA WEST PROJECT IN ZAMBIA
VANCOUVER, BC, May 24, 2023 /PRNewswire/ - Deep-South Resources Inc. ("Deep-South" or the Company) (TSXV: DSM) announces the first results from the soil sampling program on the Luanshya West project in Zambia.
Pierre Léveillé, President & CEO of Deep-South states: "These preliminary results are very encouraging as current and past mines on the Copperbelt have held thresholds in the range of 50ppm to 150ppm, averaging 80ppm copper and peak values in the range of 100ppm to 450ppm copper. We look forward to receiving the remaing assays pretty soon and to plan further work on the project. "
Highlights:
- Multiple soil anomalies were defined with peak values of 332ppm copper and 282ppm cobalt in leached soil regimes.
- The five highest soil samples assay results for copper were determined to be: 332ppm, 286ppm, 272ppm, 253ppm and 247ppm.
- The five highest soil samples assay results for cobalt were determined to be: 282ppm, 179ppm, 174ppm and 159ppm, 151ppm.
- Results compare favourably with soil anomalies in the vicinity of various ore zones at current and past producing copper mines in Zambia.
- 841 samples were collected on the main grid of 500m x 100m.
- 1,270 samples were collected on 3 infil grids of 100m x 100m.
- Assay results from SGS received on 647 samples. 1,333 samples assay results are forthcoming.
- Upon reception of the full set of results from SGS, the sample results will be analyzed in detail to identify and delineate the anomalies.
- Based on these initial results additional soil sampling on tighter grids is likely after reception of all the results including the Luanshya west main grid and the additional 3 infill grids.
- Deep-South's geological team is currently proceeding with plans for a second phase of the soil sampling program.
The Luanshya West exploration licence 23246-HQ-LEL is situated in the heart of the Zambian Copperbelt some 29km west of the Luanshya Copper Cobalt mine. The licence area covers 5,423.26 hectares (54.24 Sq. Km).
Mr. Dean Richards Pr.Sci.Nat. , MGSSA – BSc. (Hons.) Geology, is the designated Qualified Person under the terms of National Instrument 43-101 and has reviewed and approved the technical content of this news release
Deep-South Resources is a mineral exploration and development company. Deep-South's growth strategy is to focus on the exploration and development of quality assets in significant mineralized trends and in proximity to infrastructure in stable countries. In using and assessing environmentally friendly technologies in the development of its copper projects, Deep-South embraces the green revolution.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain "forward-looking statements," as identified in Deep- South's periodic filings with Canadian Securities Regulators that involve a number of risks and uncertainties.
There can be no assurance that such statements prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
This News Release contains forward-looking statements, which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "will", "may", "should", "expects", "plans", or "anticipates" or the negative of these terms or other comparable terminology. All statements included herein, other than statements of historical fact, are forward looking statements, including but not limited to the Company's plans regarding the Luanshya West project. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements. Such uncertainties and risks may include, among others, actual results of the Company's exploration activities being different than those expected by management, delays in obtaining or failure to obtain required government or other regulatory approvals or financing, inability to procure equipment and supplies in sufficient quantities and on a timely basis, equipment breakdown and bad weather. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect the Company's current judgment regarding the direction of its business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law, the Company does not intend to update any forward-looking statements to conform these statements to actual results.
SOURCE Deep-South Resources Inc.
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