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Deep-South Resources Inc
Symbol DSM
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Close 2023-05-23 C$ 0.075
Market Cap C$ 12,703,103
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Deep-South samples 332 ppm Cu, 282 ppm Co at Luanshya

2023-05-24 15:00 ET - News Release

Mr. Pierre Leveille reports

FIRST SOIL SAMPLING ASSAY RESULTS ON THE LUANSHYA WEST PROJECT IN ZAMBIA

Deep-South Resources Inc. has released the first results from the soil sampling program on the Luanshya West project in Zambia.

Pierre Leveille, president and chief executive officer 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 50 ppm to 150 ppm, averaging 80 ppm copper and peak values in the range of 100 ppm to 450 ppm copper. We look forward to receiving the remaining assays pretty soon and to plan further work on the project."

Highlights:

  • Multiple soil anomalies were defined with peak values of 332 parts per million copper and 282 ppm cobalt in leached soil regimes;
  • The five highest soil samples assay results for copper were determined to be: 332 ppm, 286 ppm, 272 ppm, 253 ppm and 247 ppm;
  • The five highest soil samples assay results for cobalt were determined to be: 282 ppm, 179 ppm, 174 ppm, 159 ppm and 151 ppm;
  • 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 500 metres by 100 metres;
  • 1,270 samples were collected on three infill grids of 100 m by 100 m;
  • 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 three 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 about 29 km west of the Luanshya copper-cobalt mine. The licence area covers 5,423.26 hectares (54.24 square kilometres).

Qualified person

Dean Richards PrSciNat , MGSSA -- BSc (honours) 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

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 projects, Deep-South embraces the green revolution.

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