Aust Cobalt Sulphide project + Canadian Nickel Sulphide project
Drilling is about to kick off at on the company's flagship Cobalt Ridge project where the company recently achieved Battery Grade Cobalt results from Metallurgical test work.
Cobalt Ridge is unique in that it is one of only a few Cobalt sulphide projects on the ASX witht he other notable examples being the bigger and more advanced companies such as COB CLA NCZ.
Given CZN have shown they can in fact produce Battery Grade Cobalt the next important step is outlining a sufficiently large enough deposit.
Im expecting to see further high grade Cobalt drill results similar to what the company achieved during its first drill program during 2016.
2016 Drilling
RC drilling assay results have validated the Company’s assessment of Cobalt Ridge as a unique, high-grade cobalt-dominant deposit with the potential to deliver valuable, discrete high-grade zones of cobalt, within broader moderate grade mineralisation.
Six of the 15 RC holes completed at Cobalt Ridge targeted the Main Cobalt Lode. An additional three holes have been extended with core drilling to intersect the main zone. Core drilling results are expected early in 2017.
The main cobalt lode has been drilled over a strike of about 200 metres, to a depth of 140 metres below surface (Figures 1 as presented in Corazon’s recent ASX announcement, 14/12/16 and Figure 2, below). The mineralisation is open to the west, where it is coincident with soil geochemical anomalism and small-scale historical workings targeting copper mineralisation.
The cobalt mineralisation is typically about 16 metres in down-hole width (~8 metres true width), with intersections up to 37 metres down-hole. Average cobalt grades for these intervals within the drilling completed by Corazon are between 0.23% and 0.65% cobalt. Multiple higher-grade zones of up to 1.48% cobalt exist, at between one and seven metres down hole widths. Best individual one metre assay from this program of RC drilling is 2.79% cobalt.
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