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Kaoko Metals Expands Drilling Program at Namibia Copper-Silver Project; Shares Fall 13%

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Kaoko Metals (ASX:KAO) said its diamond drilling program at its flagship Chalkos copper-silver project in Namibia has been expanded to at least 15,000 meters, with a second rig mobilized to Donkey Hill following initial success at Otniel and a new surface discovery at Donkey Hill East, according to a Thursday Australian bourse filing.

The company said five diamond holes have been completed to date at Otniel, while new surface copper mineralization has been discovered at Donkey Hill East, including a rock-chip sample grading over 50% copper, extending the known mineralized trend by more than 700 meters.

The mapped surface expression at Donkey Hill now exceeds 1,500 meters, reinforcing its status as a high-priority target alongside Otniel, the filing added.

The company's shares fell 13% in recent Thursday trade.

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