Join our daily newsletter At The Bell to receive exclusive market insights
- Cobalt Blue (COB) increases its Broken Hill footprint by around 35 per cent, following the grant of an exploration licence in New South Wales
- Since January 2021, Cobalt has added two new exploration licences to its tenement portfolio, which now covers a total around of around 220 kilometres squared
- The company says its tenement growth is a step towards securing long-term exploration potential to complement development of the Broken Hill Cobalt Project
- Cobalt Blue is up 10.3 per cent, trading at 32 cents at 2:57 pm AEDT
Cobalt Blue (COB) has increased its Broken Hill footprint by around 35 per cent, following the grant of an exploration licence in New South Wales.
Since January 2021, Cobalt has added two new exploration licences to its tenement portfolio, which now covers a total around of around 220 kilometres squared.
Since 2016, Cobalt Blue has completed 30,000 metres of drilling of the Pyrite Hill, Big Hill and Railway deposits. Collectively known as the Broken Hill Cobalt deposits, these were the subject of a recent mineral resource estimate, made up of 118 megatonnes at 859 parts per million (ppm) cobalt-equivalent, for 81,100 tonnes contained cobalt.
Cobalt’s CEO, Joe Kaderavek said the company’s tenement growth was a step towards securing long-term exploration potential to complement development of the Broken Hill Cobalt Project.
“Having now established a strong resource base, we look forward to applying this blueprint in our future targeting,” Mr Kaderavek said.
Cobalt added the continued consolidation of ground within the region remained a priority for the execution of Cobalt’s long-term exploration strategy, targeting discovery and delineation of cobalt mineralisation considered to complement the existing mineral resource inventory.
Cobalt Blue was up 10.3 per cent, trading at 32 cents at 2:57 pm AEDT.
