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Cobalt Blue Holdings Ltd.
Summary
| Project: | Thackaringa | |
|---|---|---|
| Deposit: | Railway, Pyrite Hill, Big Hill | |
| Location: | Australia | |
| Commodities: | Cobalt-Sulphur-Iron | |
| Date: | 5/4/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 4-5-2017: Cobalt Blue Holdings Ltd. announces an Exploration/Drilling Update report for its Railway, Pyrite Hill, Big Hill deposit at the Thackaringa project. Drilling results incl. 89m @ 982ppm Co, 9.4% S, 8.7% Fe from 34m. Cobalt Blue Holdings Limited i | |
| Resources: | (Resource, Inf.): 33.1Mt @ 833ppm Co at project | |
| CP/QP: | [Overall Report]: Anthony Johnston (Internal) | |
| ABSTRACT: | Cobalt Blue Holdings Limited is delighted to announce the completion of its 1H 2017 resource definition drilling program at the Thackaringa cobalt project, west of Broken Hill, NSW. Completion of this campaign is a major milestone. The current assay will be used as the basis for a new and updated resource estimation process, commencing in May. This announcement summarises the assays from a total of thirty one (31) drill holes completed for a total of 3,812 metres. Following the Company’s stated accelerated exploration strategy, the 1H 2017 drilling program was completed by three drill rigs (one diamond and two reverse circulation). Inclined drill holes (between 40° and 60°) were designed to intersect the steeply dipping deposits at an optimal orientation. Drill results continue to confirm the predictive geological model. The Thackaringa deposits have a combined strike length of over 4.5 kilometres varying from 25 to 100 metres width. Significant local thickening of the mineralised envelope is due to the extensive development of isoclinal folding within the host lithology unit. Initial interpretation of 2017 data suggests that this deformation may locally enhance cobalt and pyrite grade. This new structural information provides a further opportunity to define high grade lenses within the broader mineralised envelope. At Railway, zones of high grade cobalt mineralisation were intersected in the hanging wall of the deposit and demonstrate strong continuity. Drilling undertaken to date has focussed on the shallow mineralisation – to approximately 150 metres below surface with confirmed mineralisation to greater depths. | |
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