FIRST RESULTS FROM 2018 DRILLING PROGRAM
FIRST RESULTS FROM 2018 DRILLING PROGRAM AT THE WOLLOGORANG PROJECT
Assays received for 320 of 805 reconnaissance shallow air core drill holes completed this season.
Positively 53 of 320 (~17%) of the holes have anomalous cobalt in excess of 100 ppm Co. This compares favourably with the signature of 147ppm Co over the existing Stanton Cobalt Deposit. Deeper drilling on the most prospective targets will commence in two weeks
Shallow drill testing of drill targets to continue for another 2 weeks. Drilling is expected to continue till the commencement of the wet season in November.
- Laboratory assay results from the additional ~500 holes are expected to be released over the coming weeks, following earlier issues with field equipment.
Northern Cobalt Limited (ASX: N27) is pleased to announce that ongoing drilling has confirmed significant new cobalt mineralised targets in the results from the first pass drilling campaign. The company has been testing drill targets consisting of magnetic lows similar to that underlying the Stanton Cobalt Deposit. This exploration method has been encouraging, with approximately 17%, or 53 of the 320 drill holes analysed so far intersecting cobalt mineralisation in excess of 100ppm which is comparable to similar samples taken over the Stanton Cobalt Deposit. Deeper follow up drilling to test these targets will commence in two weeks.
“These new drill results are a strong step towards our strategy of adding additional resource tonnes near our existing Stanton Cobalt Deposit.”
- Managing Director, Michael Schwarz
Want to know more about how we developed our new targets?
In this video, Managing Director, Mike Schwarz discusses the analysis of the 2017 aero-magnetic survey and how the unusual magnetic signature of the Stanton Cobalt Deposit has helped develop new targets at the Wollogorang Project in the Northern Territory.