The Company has today commenced a drilling program to target potential high grade cobalt extensions to the historic Smiths Mine where historic records report mining of a lode approximately 7m in true width to a depth of 25m at a grade of 7.5%Co, 2.5%Ni and 18%Mn.
The current drilling program will comprise approximately 200m of diamond drilling targeting mineralisation below the historic Smiths Mine. Diamond drilling is expected to provide information on geological structure, including the location and orientation of the shear zone that is thought to control the higher grade cobalt-nickel-manganese mineralisation. Recent field mapping has indicated the shear zone may be more folded than first thought and could provide additional drilling targets along a 200m section of the of the overall 800m long target zone. The current drilling program is expected to be completed within two weeks, subject to weather and ground conditions.
In 2016 the Company completed nine reverse circulation holes largely adjacent to historic workings approximately 200m north of the historic Smiths Mine. The average depth of the 2016 holes was 51m, and demonstrated the potential for high grade cobalt extensions at Mt Cobalt, including a high grade interval of 7m @ 0.84%Co & 0.83%Ni from 29m2 (COB 21).
