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Aus Tin Mining Ltd.
Summary
| Project: | Mt Cobalt | |
|---|---|---|
| Deposit: | Mt Cobalt | |
| Location: | Australia | |
| Commodities: | Cobalt-Nickel | |
| Date: | 11/23/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-11-2016: Aus Tin Mining Ltd. announces an Exploration/Drilling Update report for its Mt Cobalt deposit at the Mt Cobalt project. Drill results incl. 19m @ 0.45% Co, 0.90% Ni from 18m. The Directors of Aus Tin Mining Limited (the Company) are pleased to | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Nicholas Mather (Samuel Capital Pty Ltd.) | |
| ABSTRACT: | The Directors of Aus Tin Mining Limited (the Company) are pleased to report the results of the recent drill program at Mt Cobalt located 40km west of Gympie. A total of nine Reverse Circulation (RC) drill holes were completed with the results demonstrating the potential for high grade cobalt extensions down dip of historic workings, the most notable intersection included 7m @ 0.84%Co, 0.83%Ni or 1.13%Coeq. Furthermore the drilling extended the zone of nickel oxide mineralisation at Mt Cobalt and reinforces previous work highlighting the potential for a large scale nickel oxide deposit. On 5th July 2016 the Company reported a new high grade cobalt target south of Mt Cobalt. Following the purchase of the freehold property on which the Mt Cobalt target is situated, the Company commenced a drill program in October 2016. Nine RC drill holes (total 457m) along 250m of the overall 800m target zone were undertaken with significant results summarised below and full results available in Appendix 1. The recent drilling highlights the extensive nickel oxide mineralisation at Mt Cobalt, assays up to 2.16%Ni and averaging 0.59%Ni across all dril intervals analysed (180 samples). Previous exploration at Mt Cobalt highlighted the potential for a nickel oxide cap across Mt Cobalt up to 100m deep with previously reported intersections including 96m @ 0.59%Ni from surface (COB 11D) and 98m @ 0.55%Ni from surface (COB 15). The recent drilling (COB 23 & COB 24) demonstrates continuity of the nickel mineralisation to the south and east (Figure 1). | |
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