VANCOUVER, BC, Nov. 9, 2022
/CNW/ - Deep-South Resources Inc. ("Deep-South" or the
Company) (TSX-V: DSM) announces that the Environmental Project
Briefs ("EPB") submitted to the Zambia Environmental Management
Agency ("ZEMA") have been approved. The team started mobilizing on
Tuesday November 8 and will start the
soil sampling program on the three licences.
The program:
The program consists of geochemical soil sampling on each
licence with the aim of identify anomalies and defining drilling
targets.
Luanshya West Project (licence 23246):
The licence is situated in the center of the Zambian Copper belt
and covers 5,423.26 hectares (54.24 Sq. Km). The project
prospectivity is based on the location of the property over the
unconformable contact between the basement granites and the Lower
Roan Group sediments where most copper belt mines in both
Zambia and the Democratic Republic of Congo (the "DRC") are
located.
Historically, some 850 soil samples and geophysical data were
collected over the property by Teal (a subsidiary of African
Rainbow Minerals Ltd) between 2007 and 2009. This data has enabled
DSM to identify at least four large anomalies. The goal of the
sampling program is to generate new geochemical data (verify the
old data) and to delineate drilling targets over the anomalies
identified.
The program consists of 820 soil samples collected
in an identical manner to the original Teal sampling program. The
sampling grid will be 500 x 100 metres, duplicating the old grid
with the addition of some extra samples in areas not previously
sampled (holes in the grid). The program will be completed in about
30 days.
The project area is close to established copper / cobalt mines
with Chibuluma mine some 35Km to the north-east, Chambishi mine
41Km north-northeast, N'changa mine 53Km north-northwest and
Luanshya mine some 40Km east-southeast from the centre of the
project area.
A National Instrument 43-101 Standards of Disclosure for
Mineral Projects ("43-101") compliant technical qualifying
report is available on SEDAR at www.sedar.com under
Deep-South's profile or on the Company's web site:
www.deepsouthresources.com
Chililabombwe Project (licence 23247):
The licence is situated in the north of the Zambia Copper belt
near the DRC border. The Large Exploration Licence covers 2,200
hectares (22.5 Sq, Km). The project prospectivity is based on the
location of the property over the unconformable contact zone
between the basement granites and the Lower Roan Group sediments
where most copper belt mines in both Zambia and the DRC are located.
The program consists of 132 soil samples on a grid
of 500m by 100m. The soil-geochemistry survey should locate
any copper anomalies within the area. In this particular area, due
to their abundance, termite mounds will be sampled rather than
digging sample holes. This is because termites bring material to
the surface from considerable depth and therefore generate a deeper
sampling profile.
Mpongwe Project (licence 23248). This licence is situated
in the center of the Zambian Copper belt. The Large Exploration
Licence covers 67,500 hectares (675 Sq. Km). The project is
considered prospective as it is again located over the
unconformable contact zone between basement granites and the Lower
Roan Group sediments where most copper belt mines in both
Zambia and the DRC are
located.
The program consists of 2,675 soil samples on a grid
of 500m by 100m. It has been designed to search for copper
anomalies using a soil-geochemistry survey.
Qualified Person
Vivian Suart-Willams MSc (Hons.) Pr.Sci.Nat., Vice-President
Exploration of Deep-South Resources, has reviewed the technical
content of this presentation, and is the designated Qualified
Person under the terms of National Instrument 43-101. Mr.
Stuart-Williams is responsible for the technical part of this press
release.
About Deep-South Resources
Inc.
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 project, 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.
Caution Regarding Forward-Looking
Information
Information contained in this news release which are not
statements of historical facts may be "forward-looking information"
for the purposes of Canadian securities laws. Such
forward-looking information involves risks, uncertainties and other
factors that could cause actual results, performance, prospects,
and opportunities to differ materially from those expressed or
implied by such forward looking information. The words
"believe", "expect", "anticipate", "contemplate", "plan",
"intends", "continue", "budget", "estimate", "may", "will",
"schedule", "understand" and similar expressions identify
forward-looking information. These forward-looking statements
relate to, among other things: the Minister's of Mines and Energy
of Namibia refusal to renew the
Company's Licence, the Company's intention to contest the
Minister's decision before the Courts of Namibia and the outcome of such
proceedings.
Forward-looking information is necessarily based upon a
number of estimates and assumptions that, while considered
reasonable by Deep-South, are inherently subject to significant
technical, political, business, economic and competitive
uncertainties, and contingencies. Known and unknown factors could
cause actual results to differ materially from those projected in
the forward-looking information. Factors and assumptions that could
cause actual results or events to differ materially from current
expectations include, among other things: political risks
associated with the Company's operations in Namibia; the failure of the Namibian
Government to comply with its continuing obligations under the Act
to allow for the renewal of the Licence; the impact of changes in,
or to the more aggressive enforcement of, laws, regulations and
government practices; the inability of the Company and its
subsidiaries to enforce their legal rights in certain
circumstances. For additional risk factors, please see the
Company's most recently filed Management Discussions & Analysis
available on SEDAR at www.sedar.com.
There can be no assurances that forward-looking information
and statements will prove to be accurate, as many factors and
future events, both known and unknown could cause actual results,
performance, or achievements to vary or differ materially from the
results, performance or achievements that are or may be expressed
or implied by such forward-looking statements contained herein or
incorporated by reference. Accordingly, all such factors should be
considered carefully when making decisions with respect to
Deep-South, and prospective investors should not place undue
reliance on forward looking information. Forward-looking
information in this news release is made as at the date hereof. The
Company assumes no obligation to update or revise forward-looking
information to reflect changes in assumptions, changes in
circumstances or any other events affecting such forward-looking
information, except as required by applicable legislation.
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SOURCE Deep-South Resources Inc.