- Metal Bank (MBK) strikes further high-grade copper-cobalt at its Millennium project in Queensland
- The company has now received all assay results from diamond drilling across the Southern and Central Resource areas, along with reverse circulation exploration drilling in the Northern Area
- Results from diamond drilling included 17 metres at 0.43 per cent copper, 0.11 per cent cobalt and 0.08 grams of gold per tonne from 234 metres, confirming the size and continuity of copper-cobalt-gold mineralisation at depth
- Reverse circulation results from the Northern Area included 16 metres at 0.42 per cent copper from nine metres, with planning for the next phase of work now underway
- Metal Bank shares are trading at 0.4 cents at 12:33 pm AEDT
Metal Bank (MBK) has struck further high-grade copper-cobalt at its Millennium project in Queensland.
The company has now received all assay results from diamond drilling across the Southern and Central Resource areas, along with reverse circulation (RC) exploration drilling in the Northern Area.
Results from diamond drilling included 17 metres at 0.43 per cent copper, 0.11 per cent cobalt and 0.08 grams of gold per tonne (g/t gold) from 234 metres, and one metre at 2.08 per cent cobalt and 0.15 g/t gold from 179 metres.
MBK said these results confirmed the size and continuity of copper-cobalt-gold mineralisation at depth, which was consistent with previous results.
It also noted the cobalt grades reiterated Millennium as one of “Australia’s highest grade undeveloped battery metals projects”.
Reverse circulation results from the Northern Area included 16 metres at 0.42 per cent copper from nine metres.
“Our work demonstrates the critical minerals opportunity at the Millennium project extends to depth below the existing bulk near surface copper-cobalt-gold resource,” Metal Bank Chair Inés Scotland said.
“The high-grade cobalt intersections at depth show strong support for potential underground extraction and the results in the Northern Area provide potential for adding further to the mineralisation at Millennium.”
Metal Bank said it was now in the process of reviewing all results and planning its next phase of work.
Metal Bank shares were trading at 0.4 cents at 12:33 pm AEDT.