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Cobalt Blue Holdings Ltd.
Summary
| Project: | Thackaringa | |
|---|---|---|
| Deposit: | Thackaringa | |
| Location: | Australia | |
| Commodities: | Cobalt-Sulphur-Iron | |
| Date: | 4/4/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 4-4-2019: Cobalt Blue Holdings Ltd. announces a Resource Estimation report for its Thackaringa deposit at the Thackaringa project. Updated mineral resource estimate at the project. Completion of this latest Mineral Resource estimate reflects the culminati | |
| Resources: | (Resource, Total): 111Mt @ 715ppm Co, 8.9% Fe, 7.8% S | |
| CP/QP: | [Resources]: Danny Kentwell (SRK Consulting) | |
| ABSTRACT: | Completion of this latest Mineral Resource estimate reflects the culmination of a sustained exploration effort by COB (30,000m drilled from 2016) realising a 235% increase in resource tonnes and a 189% uplift in contained cobalt since COB issued its prospectus and became an independent company listed on the ASX. Additional drilling activities will target resource infill at the Railway and Big Hill deposits. Drill testing of distal exploration targets, including geophysical anomalies, continues to remain a central piece of COB’s long-term exploration strategy. In the immediate term, COB will now direct future technical activities to metallurgical testwork, with the key deliverables related to large-scale bulk testing. Cobalt Blue’s CEO, Joe Kaderavek commented “We are pleased with the improved classification achieved through the recent drilling campaign; 66% of the Mineral Resource is now available for potential conversion to Proven and Probable Ore Reserves. COB continues to maintain a strong record of resource growth with the update demonstrating a firm step toward realisation of COB’s +20 year mine life target. | |
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