Kaoko Metals Opens Two Copper Drill Fronts With $23M War Chest in Namibia
Key Takeaways
- Kaoko Metals has commenced maiden drilling at the Donkey Hill Prospect, establishing two simultaneous active drilling fronts across the Chalkos Copper-Silver Project for the first time.
- Donkey Hill carries a surface mineralisation footprint of approximately 800 metres across three trends, with historical grab samples returning grades of up to 69.6% Cu — though these are surface samples, not drill results.
- The two active prospects — Donkey Hill and Otniel — sit just 2.2km apart, supporting efficient logistics and concurrent management oversight during a planned early October site visit.
- Assay results from maiden Otniel holes DDOT001 and DDOT002 are anticipated within approximately two to three weeks, representing the nearest substantive catalyst for investors.
- Kaoko enters this accelerated dual-rig phase with cash reserves of over $23 million, following the completion of its share placement announced on 15 September 2026.
Second drill rig mobilised as Kaoko opens two active fronts at Chalkos
Kaoko Metals (ASX: KAO) has mobilised a second diamond drill rig to its Chalkos Copper-Silver Project in Namibia, with drilling now commenced at the Donkey Hill Prospect. The new program runs concurrently with ongoing drilling at the Otniel Prospect, establishing two simultaneous active work fronts across the project. This accelerated push follows the company’s recent share placement, announced on 15 September 2026, which delivered cash reserves of over $23 million.
The second rig was mobilised through in-country drilling partner Optimine Exploration, consistent with the use-of-funds commitment made at the time of the capital raise. Assays from maiden drill holes DDOT001 and DDOT002 at the Otniel Prospect are anticipated in approximately two to three weeks.
Gerard O’Donovan, Managing Director
“Commencing drilling at Donkey Hill is another exciting milestone for Kaoko and delivers on our commitment to accelerate exploration following the recent capital raising. With encouraging early results returned from Otniel, we can now advance two priority targets simultaneously. Donkey Hill has a substantial footprint of outcropping copper mineralisation, and we are looking forward to testing how this mineralisation develops at depth. Having two active drilling fronts is particularly exciting as we begin to systematically test the potential of the largely underexplored, but geologically fertile Chalkos Project.”
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What makes Donkey Hill a priority target?
Outcropping copper mineralisation means the mineralised rock is visible and accessible at the ground surface, without requiring any drilling to find it. For exploration companies, surface-visible mineralisation is a significant indicator because it confirms the mineral system exists and provides a starting point to test whether that system extends further at depth.
At Donkey Hill, the scale of that surface footprint is notable. Recent fieldwork by Kaoko extended the mapped mineralised footprint in outcrop to approximately 800 metres total across three trends, including an approximate 60-metre extension at Donkey Hill East (per the ASX announcement dated 2 July 2026). Historical grab samples have returned grades of up to 69.6% Cu, as cited in the Company’s Prospectus dated 23 February 2026. It is important to note these are historical surface samples, not results from the current drilling program, and they do not represent average or expected grades across the prospect.
The maiden drilling program at Donkey Hill is designed to test the depth extent and continuity of that outcropping mineralisation. Why does this matter?
- Surface mineralisation footprint of approximately 800 metres across three trends
- Historical surface grab samples returning up to 69.6% Cu
- Located just 2.2km from the Otniel Prospect
- Largely untested at depth
Exploring two prospects at once — the Chalkos strategy
Running two concurrent drilling programs across a large project tenure is a meaningful step-up in exploration pace. The deployment of a second rig was a stated use of funds from the recent capital raise, and its mobilisation now translates that commitment into operational reality.
With both Donkey Hill and Otniel active simultaneously, Kaoko is advancing systematic testing across its approximately 400km² Chalkos landholding. The two prospects sit just 2.2km apart, which supports efficient logistics and allows management to oversee both programs during a planned site visit in early October.
The company also holds the Karibib Gold-Copper-Tungsten Project as a secondary asset, though the current operational focus remains firmly on the Chalkos drilling campaign.
| Prospect | Location | Surface Footprint | Drilling Status | Near-Term Catalyst |
|---|---|---|---|---|
| Otniel | Chalkos Project, Namibia | Not specified in announcement | Ongoing — progress update expected in coming days | Assay results; expanded program update; Assays DDOT001 & DDOT002 in ~2–3 weeks |
| Donkey Hill | 2.2km from Otniel | ~800m strike across 3 trends | Just commenced (maiden program) | Assay results from maiden holes |
Kaoko’s immediate work program covers several concurrent activities:
- Continuation and expansion of the drilling program at Otniel
- Market update on the expanded Otniel drilling program, expected in coming days
- Reporting of assays for DDOT001 and DDOT002, anticipated in approximately two to three weeks
- Ongoing fieldwork at Chalkos to generate new drilling targets
- Commencement of water bore drilling at Chalkos
- Management site visit in early October to oversee the expanded drill programs
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Well-funded for an accelerated campaign
Kaoko enters this dual-rig exploration phase with cash reserves of over $23 million, following the completion of its share placement announced on 15 September 2026. That balance provides a meaningful runway as the company advances systematic exploration across a large and largely underexplored tenure.
The nearest-term catalyst is an Otniel drilling progress update, expected within days. Shortly after, assay results from the maiden Otniel holes DDOT001 and DDOT002 are anticipated in approximately two to three weeks. Both deliverables will give investors their first substantive look at what the expanded two-front drilling campaign is finding beneath the surface.
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