Deep-South Resources is a mineral exploration and development company. Deep-South is actively involved in the acquisition, exploration and development of major mineral properties in Africa. 

Deep-South is a TSX-V listed company and owns 100% of the Haib Copper deposit in the south of Namibia. Haib is the oldest porphyry deposit in the world and one of the largest in Africa. Deep-South recently disclosed a PEA over the deposit and at a price of copper of $3.00 / lb, it generates an after-tax NPV of $950 million and an after-tax IRR of 30%.

The Haib project is a large, low grade project which produced a robust PEA in December and Deep-South is now drilling the high grade section of the deposit. They have found high grade zones which will go towards a PFS in 2022 and a new resource estimate in October ‘21. Deep-South is also resuming heap leach testing which has been very successful so far.

The Deep-South share price has increased recently which has been helped by the rise in Copper prices. The company produced some good drill results in May and have completed 66,000m of drilling with another 10,000m of further in-fill drilling needed for the PFS. 

Between now and the PFS coming out in early 2022, the company is fully funded, after which they will need to raise C$5-7m to fund a further 20-25,000m drill programme. The first goal for Deep-South is to improve the grade and the second goal is to improve the tonnage of the deposit with extra drilling to add value and transform the deposit into a serious Copper project for the future.

With the current electrification and Copper thematic, it is good timing for Copper companies and Deep-South is busy drilling now until mid-July and will have results coming out until mid-August. The company is also undertaking a scoping study at the project which is looking at alternative power, water usage, future impact study and assess the leach pad. 

Deep-South has a busy result driven 9 month period ahead and will be releasing news and results from their activities between now and the end of the year.

Company page: https://www.deepsouthresources.com/

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