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Strategic Minerals Plc
Summary
| Project: | Laverton Project | |
|---|---|---|
| Deposit: | Hanns Camp | |
| Location: | Australia | |
| Commodities: | Nickel-Platinum-Cobalt | |
| Date: | 2/28/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-2-2017: Strategic Minerals Plc announces an Exploration/Drilling Update report for its Hanns Camp deposit at the Laverton Project project. Re-assay of historical results incl. 16m @ 0.1% Co from 38m. Strategic Minerals PLC (AIM: SML; USOTC; SMCDY), the | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Andrew Kohler (Not stated) | |
| ABSTRACT: | Strategic Minerals PLC (AIM: SML; USOTC; SMCDY), the diversified mineral production and development company, is pleased to announce that the re-assaying of the maiden drill programme at its Hanns Camp project in Western Australia has identified significant cobalt mineralisation ("Co") mineralisation. Commenting, John Peters, Managing Director of Strategic Minerals, said: "The confirmation of the potential for a significant cobalt deposit comes at a time when investors are showing an increasing interest in cobalt projects to feed the supply of lithium ion batteries in electronic equipment. The identification of these cobalt readings in two of the 2016 drilling cores is extremely encouraging as their positioning provides us the opportunity to further assess the possible exploration target at a reasonable capital cost. We are also encouraged by the fact that the drilling programme has identified the strike length to be at least two kilometres." Although no direct cobalt analysis exists, geological logging shows an intact and well preserved lateritic enrichment zone. The extent of this enrichment zone at Hanns Camp has the potential to host a significant exploration target. Drilling to date has traced this over a two kilometre strike length. Cobalt is of increasing interest given the shortage of supply and increasing demand for lithium ion batteries. All reported cobalt and platinum results in this announcement were determined by Bureau Veritas Minerals laboratory in Perth, one of Australia's leading minerals laboratories. Nickel was determined via mixed acid digest, followed by inductively coupled plasma atomic emission spectroscopy ('ICP-AES') detection. PGEs were determined via fire assay followed by inductively coupled plasma mass spectrometry determination. | |
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