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New World Cobalt Ltd.
Summary
| Project: | Colson | |
|---|---|---|
| Deposit: | Colson | |
| Location: | United States | |
| Commodities: | Cobalt-Gold-Copper | |
| Date: | 12/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 20-12-2018: New World Cobalt Ltd. announces an Exploration/Drilling Update report for its Colson deposit at the Colson project. Drilling results incl. 5.5m @ 0.20% Co, 259ppm Cu, 0.69g/t Au from 275.22m. New World Cobalt’s Managing Director, Michael Hayne | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Ben Vallerine (Independent) | |
| ABSTRACT: | New World Cobalt’s Managing Director, Michael Haynes, commented: “Achieving significant thicknesses of high‐grade copper‐cobalt mineralisation in our first drilling program at the Colson Project is a very encouraging result. Assays of up to 1.26% cobalt have been returned – from holes that are on the periphery of much stronger IP anomalies. This bodes well for our next drilling program in early 2019, when we will deliberately target the adjacent but much stronger IP anomalies that we anticipate may be related to thicker and/or higher‐grade mineralisation. “The systematic, multi‐phased exploration programs we have completed over the past year have substantially enhanced our understanding of the mineralisation at the Project. Multiple datasetsindicate that we are onto a large mineralised system. So far we believe we have only tested the very edges of it, but still managed to intersect very high grades. This a very positive result for the broader project, where we hold 100% interest in 6,700 acressurrounding the historical Salmon Canyon Deposit. We are eagerly awaiting permit approvals so we can get on with the next phase of drilling early next year.” New World Cobalt Limited (ASX: NWC; “New World Cobalt” or “the Company”) is pleased to advise that it has received assay results for the final eight diamond core holes drilled as part of its maiden, 12‐hole reconnaissance drilling program at the Colson Cobalt‐Copper Project, located in the premier Idaho Cobalt Belt in the USA. | |
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