Kaoko Metals begins second drilling rig in Namibia

• Kaoko Metals has mobilised a second diamond drill rig to begin exploration at its Donkey Hill prospect in Namibia.
• The exploration expansion follows a recent capital raise that lifted company cash reserves over $24 million.
• Management aims to accelerate exploration testing across the largely unexplored Chalkos Copper-Silver Project.

Kaoko Metals (ASX:KAO) has established a second active drilling front at its Chalkos Copper-Silver Project after deploying an additional diamond rig to the Donkey Hill prospect in Namibia.

The new drilling programme runs concurrently with ongoing exploration at the nearby Otniel Prospect, where visual copper mineralisation was recently intersected.

"Commencing drilling at Donkey Hill is another exciting milestone for Kaoko and delivers on our commitment to accelerate exploration following our record capital raise," said Kaoko Metals Managing Director Gerard O'Donovan.

The extra rig was supplied by local partner Optimine Exploration to target roughly 800 metres of mapped outcropping copper mineralisation, with initial assay results expected in two to three weeks.

This multi-rig campaign is supported by cash reserves exceeding $24 million following a share placement completed earlier this month.

Following the announcement, the Kaoko Metals share price was down at $2.49.

The company entered the Australian Securities Exchange in May to fund mineral exploration assets across southern Africa.

Its primary focus remains testing the broader scale of the Chalkos Project, which contains multiple untested target trends.