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Northern Cobalt Ltd.
Summary
| Project: | Wollogorang | |
|---|---|---|
| Deposit: | Stanton | |
| Location: | Australia | |
| Commodities: | Cobalt-Nickel-Copper | |
| Date: | 2/5/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-2-2018: Northern Cobalt Ltd. announces an Exploration/Drilling Update report for its Stanton deposit at the Wollogorang project. Drilling results incl. 19m @ 0.29% Co, 0.07% Cu, 0.09% Ni from 11m. Stanton Cobalt Deposit Northern Cobalt has drilled 70 RC | |
| Resources: | (Resource, Inf.): 500Kt @ 0.17% Co, 0.09% Ni, 0.11% Cu at project | |
| CP/QP: | [Overall Report]: Michael Schwarz (Internal) | |
| ABSTRACT: | Stanton Cobalt Deposit Northern Cobalt has drilled 70 RC and 10 diamond core holes on our existing Stanton Cobalt resource, aiming to upgrade the existing inferred Mineral Resource of 500,000 tonnes of 0.17% Co, 0.09% Ni, 0.11% Cu, and obtain material for metallurgy studies and use in scoping studies. Importantly these results confirm that the Stanton Cobalt Deposit remains open to the south-east and north-west. A significant continuation of the magnetic low (purple area, Figure 1) occurs to the north-east of the currently defined mineralisation. This signature is associated with mineralisation at Stanton and indicates the significant potential for extensions of the resource in this direction. Prior to the onset of the wet season Northern Cobalt completed 57 drill holes on a broad spacing across a limited number of the previously identified targets. The spacing between most of the holes was ~100m, infill drilling was not possible due to the onset of the wet season. It is worth noting that the Stanton Deposit currently has a diameter of ~200m and that the spacing of the scout drilling will need to be infilled to best test the targets. Results from the regional drilling will be combined with the new geophysical and geochemical methods defined by Northern Cobalt to target the planned drilling in 2018. Northern Cobalt has identified 6 (six) prospects, from recent and historical regional drilling, that have the potential to host cobalt mineralisation like the Stanton Cobalt Deposit. A further 15 targets were not tested last year due to the onset of the wet season. | |
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