Ann: Large-scale cobalt potential identified at Nyungu, page-3

https://www.miningreview.com/large-scale-cobalt-potential-discovered-north-western-zambia/

Cobalt deposit

• Existing drilling by Argonaut has defined between 12,000 and 24,000 t of contained cobalt at the Nyungu deposit in Zambia
• Planned follow-up drilling at Nyungu is likely to increase cobalt and copper tonnage

Exploration upside

• Peak cobalt in diamond drilling is: 81.5 m at 0.12% cobalt from 183 m, including 23 m at 0.21% cobalt from 218.5 m in drill hole NYRD046
• Further drilling of shallow oxide and transitional zones and the northern, down-plunge extension of Nyungu Central in Zambia is likely to yield greater tonnages at encouraging grades
• Argonaut has collected soil samples over the entire Lumwana West licence area in Zambia and each of these samples was analysed for a suite of elements, including cobalt. Several high-order cobalt soil anomalies have been identified for follow-up exploration
• Peak cobalt in soil is 0.15%