Australian-listed Golden Deeps Limited has committed about N$95 million to exploration activities in Namibia over the five years to June 2031, as it advances its critical metals projects in the Otavi Mountain Land.
According to the company’s 2026 annual report, Golden Deeps is required to spend about N$19 million annually between 2027 and 2031 to retain its interests in its Namibian mineral tenements.
“As part of ongoing activities, the consolidated entity is required to commit to minimum expenditures to retain its interest in its Namibian, Australian and Canadian mineral tenements,” the company said.
Golden Deeps reported that its Namibian exploration and evaluation assets increased to about N$163.7 million at the end of the 2026 financial year, from approximately N$135 million a year earlier.
The company’s exploration programme is focused on the Otavi Mountain Land, including the Graceland Prospect, where it has identified copper, silver, zinc, lead, germanium and antimony mineralisation.
Rock-chip sampling at Graceland has returned grades of up to 47.3% copper and 7,792 grams per tonne of silver, according to the company.
Golden Deeps commenced a deeper diamond drilling programme at Graceland in September 2026 to test extensions of high-grade mineralisation and sulphide targets identified through induced polarisation and resistivity surveys.
“Channel sampling and shallow diamond drilling results from the most significant gossan and sulphide outcrops at Graceland have produced exceptionally high-grade results of copper, silver, zinc, lead, germanium and antimony, which show Tsumeb-like characteristics of these highly mineralised zones,” the company said.
Golden Deeps is targeting critical and base metals in an area historically associated with the high-grade Tsumeb deposit, with the latest drilling programme aimed at determining the extent and continuity of mineralisation at depth.
The company is also expanding its exposure to Namibia’s uranium sector through three uranium tenement applications located south of the Langer Heinrich uranium mine in western Namibia.
The applications are held through Golden Deeps’ 80%-owned subsidiary, Huab Energy, and have been offered for grant subject to the company meeting environmental compliance requirements.
