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Northern Cobalt begins Stanton drilling

Shares in Northern Cobalt (ASX: N27) continued to surge on Monday morning as the company commenced drilling at its Stanton cobalt deposit, part of the Wollogorang cobalt project in the Northern Territory.

The company is aiming to upgrade the current mineral resource, and a further 21 high priority cobalt prospects will be drill tested.

Management has contracted a second rig, enabling it to commence drilling in mid-October with a view to receiving meaningful results prior to the onset of the wet season.

N27 expects the 20,000 metre drilling program to be completed before the end of 2017 with the initial goal being to upgrade the current JORC 2012 resource by focusing on more than 40 drill holes adjacent to the established resource.

Following that initiative, a further 21 nearby prospects - 11 of which have historical mineralised drill intersections - will be tested.