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Korab Resources Ltd.
Summary
| Project: | Rum Jungle | |
|---|---|---|
| Deposit: | Batchelor | |
| Location: | Australia | |
| Commodities: | Cobalt-Copper-Gold-Nickel | |
| Date: | 2/10/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-2-2017: Korab Resources Ltd. announces an Exploration/Drilling Update report for its Batchelor deposit at the Rum Jungle project. Drilling results incl. 1m @ 1040ppm Co, 16900ppm Cu, 1.36ppm Au from 56m. Korab Resources Ltd (“Korab”, or “Company”) (ASX | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Malcolm Castle (Agricola Mining Consultants Pty Ltd.) | |
| ABSTRACT: | Korab Resources Ltd (“Korab”, or “Company”) (ASX: KOR) is pleased to report first stage results of the review of cobalt potential of Korab’s Batchelor project located near Darwin in the Rum Jungle Mineral Field. This first stage review encompassed geochemical assessment of 20 RC drillholes, 784 RAB drillholes drilled on a 40m x 200m grid, 2,950 soil samples taken on 40m x 100m and 40m x 200m grids, and 686 rock chip samples. RAB drilling averaged 10m in depth with 8,150 samples analysed. Korab’s review confirmed presence of high grade cobalt mineralisation within our tenements (see Figure 1 and Figure 2). Cobalt mineralisation appears to be pervasive, extending over multiple zones of significant surficial extent, covering in aggregate an area of approximately 13.9 mln m2. The largest single mineralisation zone covers 10.3 mln m2. In the northern zones cobalt appears to be associated with copper and gold, in the southern and central zones it appears to be associated with copper and nickel. High grade cobalt mineralisation is located either on top of, or near intersections of deep faults and crosscutting faults and fractures (see Figure 1 and Figure 2). All of the elevated cobalt drill intercepts are associated with surface geochemical anomalies present in soil, rock chips, and shallow RAB drilling. | |
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