The drilling conducted so far shows that the resource extends to and likely beyond that depth.
From this update, toward the top of page 3 - 'Mineralisation extends to surface or near surface along the entire strike length investigated to date, and has now been demonstrated to extend to a vertical depth of at least 150 metres.'
I don't expect to ever process from this depth, it simply makes more sense to drop some rods in targeting a large depth to prove it exists rather than chase it down every 10m and waste time/money. Plus there is existing drilling for this site from previous companies, only 2 holes were tested for cobalt from memory, so there is some degree of confidence regarding the size of the mineralisation.
Borg has mentioned that Co grades would likely be better at depth, to what extent and how this would impact economics needs to be looked into at some point. I enquired about a few things several weeks ago and was told that surface and underground mining methods were being discussed, so it's already on their minds. It would obviously depend on the Co grades at depth vs surface. Not sure how busy Brendan is currently, but he was very generous with his time to me and I would encourage anyone to reach out with any queries and concerns.
I'll add that there has been some informative posts here in the last week that have come from people who have clearly looked deep into CLA. In my opinion CLA is the only cobalt explorer that I have looked into that has ticked the most boxes and not thrown up any red flags. Looking into it purely from a resource size/grade there is nothing that stands out about CLA compared to others, but looking into location/sovereign risk, infrastructure, ore type, management, Borg buying on market, Borg buying on market again, etc. It appears to me that here, costs will likely be lower and that this can be producing sooner than most others. For whatever reason or conspiracy theory out there, the market clearly doesn't agree with this or me currently. Maybe it will change soon, maybe there will be some numbers in the SS that will convince investors, maybe I have got this company entirely wrong, but this is easily my best value cobalt explorer.
Expand
