VANCOUVER, British Columbia, July 10, 2023 (GLOBE NEWSWIRE) -- Deep-South Resources Inc. ("Deep-South" or the “Company”) (TSX-V: DSM) announces that the Haib Copper License EPL 3140 has been officially renewed by the Ministry of Mines and Energy of Namibia on Friday July 7, 2023 is valid for a period two years from the date it was renewed.
Pierre Leveille, President & CEO of Deep-South stated: "This is a very good news. The Board of Directors and Management of Deep-South are highly pleased to be back at Haib. With the scarcity of major copper developments on the horizon, Haib’s promise as a significant undeveloped deposit.We have begun preparations to commence the work program and resume the development of the project as soon as possible. The plan and further information will be disclosed to our shareholders in due course. We acknowledge the patience and strong support of our shareholders and stakeholders through this long journey. We would also like to thank the Minister and team for their diligence in renewing the license in a timely fashion.”
About Haib Copper
Haib Copper is a large copper/molybdenum deposit situated 40 kilometers from the southern boundary of Namibia. The license covers 370 square kilometers (37,000 hectares). Over the years the project has seen 70,000 meters of drilling, many metallurgical test work, geophysical surveys, geological mapping, mine modeling and even a feasibility study in 1996. Deep-South holds all the historical data. In June 2021, when the license renewal was denied (see the news release here: https://www.deepsouthresources.com/investors/news-releases/update-on-deep-south-haib-copper-licence-renewal-application/), Deep-South was underway to complete a 10,000 meters drilling program, was starting more metallurgical test work and was starting an updated resource estimation that was to serve for a feasibility study. The development program will resume as soon as possible.
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. The Company holds the Haib Copper project in Namibia and holds an interest in three exploration licences in the Copperbelt in Zambia. In using and assessing environmentally friendly technologies in the development of its copper projects, Deep-South embraces the green revolution.
More information is available by contacting Pierre Léveillé, President & CEO at
+1-819-340-0140 or at: info@deepsouthresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in thepolicies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of this release.
