en.Wedoany.com Reported - Australian-listed exploration company Kaoko Metals Limited (ASX: KAO) announced in June 2026 that its Chalkos copper-silver project, located in the Kunene Region of northwestern Namibia, has completed drilling preparations, with the first diamond drilling expected to commence within approximately six weeks. The company's Managing Director, Gerard O'Donovan, stated that high-grade copper-silver mineralization has been identified on the surface at the Chalkos project but has yet to be verified by drilling, and the area holds significant discovery potential. Meanwhile, the company is advancing a regional soil sampling program at the Karibib copper-gold-tungsten project.
Kaoko Metals was established in 2025, headquartered in West Perth, Australia, and listed on the Australian Securities Exchange in May 2026, raising A$6.5 million through an initial public offering (IPO) at an issue price of A$0.20 per share, with an initial market capitalization of approximately A$12.1 million. The company holds two drill-ready copper projects in Namibia—the Chalkos copper-silver project in the Kaoko copper belt and the Karibib copper-gold-tungsten project in the Damara Belt.
The Chalkos project is the company's flagship asset, located in the emerging Kaoko copper belt—a relatively underexplored geological corridor whose geological characteristics are considered comparable to the globally significant Central African copper belt. The project has identified a 20-kilometer mineralized strike and a 40-kilometer prospective trend, with only 700 meters of detailed mapping completed to date. Historical rock chip sampling has yielded copper grades of up to 69.6% and silver grades of up to 2,030 g/t. The Donkey Hill and Otniel targets have been prioritized as the highest-priority drilling targets due to visible copper mineralization on the surface and favorable geological conditions. Preliminary beneficiation tests show that after X-ray transmission sorting, bulk samples from Donkey Hill and Otniel saw copper grades increase from 9.9% to 13% and from 3% to 8.5%, respectively.
Kaoko Metals originally planned to commence drilling at the Karibib project first, but after a site inspection of Chalkos, it decided to prioritize drilling at Chalkos. O'Donovan stated that the quality of surface mineralization at Chalkos, the systematic potential scale, and preliminary structural interpretations have strengthened the company's confidence in accelerating the first drilling program. For the Karibib project, the company is about to launch a comprehensive soil and calcrete sampling program to identify additional drilling targets beyond known mineralized zones.
Namibia is currently one of the most active exploration jurisdictions in Africa. The advancement of Kaoko Metals' dual-project strategy comes amid growing global demand for energy transition metals such as copper. The first drilling at the Chalkos project is expected to validate the potential for large-scale sedimentary copper-silver mineralization in the region, laying the foundation for the company's subsequent exploration in Namibia.
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