SMALLCAPS ARTICLE: N27 expands Snettisham exploration focus to include iron ore
Northern Cobalt (ASX: N27) is expanding its exploration focus at the Snettisham vanadium-gold project in southern Alaska to add iron ore following recent sustained price increases for the mineral.
Having previously focused on vanadium as the main value driver, the company today announced it has completed an assessment of the potential for magnetite iron ore to contribute to the project’s economics.
According to Northern Cobalt, the project has a high-grade magnetite iron ore exploration target of 297-551 million tonnes at 28-52% iron and a low-grade target of 1.1-2.1 billion tonnes at 14-26% iron.
These exploration targets were based on exploration results obtained by both Northern Cobalt and previous explorers from outcrop mapping, airborne magnetics, rock chip sampling, metallurgical studies and drilling.