Namibia

International Base Metals has established a wholly-owned Namibian-registered subsidiary company, Craton Mining and Exploration (Pty) Ltd, ('Craton') as its operating entity in Namibia.

Craton has an exploration team of 10 geologists, field assistants and support staff, led by Karl Hartmann, an experienced Namibian geologist, operating out of Windhoek, the capital of Namibia.

Craton has concentrated its exploration effort on the Omitiomire copper prospect, which is emerging as a major new copper discovery.  

A recently completed multi-rig drilling program (250 holes totalling over 32,000 m) has defined a resource of 98 million tonnes (‘Mt’) at a grade of 0.51% Cu at a cut-off grade of 0.25% Cu. Consultants have reported, to JORC code and guidelines, an Indicated Resource of 19 Mt at 0.48% Cu and an Inferred Resource of 79 Mt at 0.52% Cu – i.e. 500,000 tonnes of contained copper.

The Omitiomire deposit remains open in all directions and has additional targets that provide optimism of doubling the resource base.

Exploration activities are being carried out over five project areas stretching from the north to the southern border of Namibia. 

• Omitiomire
• Steinhausen
• Kalahari Copperbelt
• Kamanjab
• Orange River