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New World Cobalt Ltd.
Summary
| Project: | Colson | |
|---|---|---|
| Deposit: | Colson | |
| Location: | United States | |
| Commodities: | Cobalt-Gold-Copper | |
| Date: | 10/26/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 26-10-2018: New World Cobalt Ltd. announces an Exploration/Drilling Update report for its Colson deposit at the Colson project. Drilling results incl. 6.23m @ 510ppm Co, 5541ppm Cu, 0.09g/t Au from 341.97m. New World Cobalt Limited (ASX: NWC; “New World C | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Ben Vallerine (Independent) | |
| ABSTRACT: | New World Cobalt Limited (ASX: NWC; “New World Cobalt” or “the Company”) is pleased to advise that it has received assay results for the first three holes drilled at its Colson Cobalt‐Copper Project in the Idaho Cobalt Belt, USA. The initial three holes all intersected the target mineralised horizon on centres spaced 80‐100m apart, on the margins ofstrong Induced Polarisation (“IP”) anomaliesthat were delineated after the drilling program commenced (see Figure 1). Assay results include Permit applications to test the stronger IP anomalies have been submitted, with approval expected in the first quarter of 2019. A second phase drilling program is expected to follow immediately thereafter. New World Cobalt’s Managing Director, Michael Haynes, commented: “The Company is pleased to announce the first assay results from our maiden drilling program at the Colson Cobalt‐ Copper Project. Whilst the program was initially designed to test for extensions to the historic Salmon Canyon Deposit, we are particularly encouraged that significant mineralisation was intersected on the margins of IP anomalies that were delineated during the recent IP survey. Following this validation, we are extremely excited to commence the next phase of drilling to specifically target the strongest delineated IP anomalies, in particular that at the large, very high tenor, Long Tom Prospect, which we now regard to be the highest priority target in our portfolio. We look forward to releasing the remaining assays and providing an update on the next phase of drilling, planned for early 2019.” | |
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