VANADIUM AND IRON ORE POTENTIAL IDENTIFIED IN MAGNETIC SURVEY

Snettisham RTP

 

EXECUTIVE SUMMARY:

  • Northern Cobalt has completed a detailed aeromagnetic survey over the Snettisham Vanadium Project in Southern Alaska

  • Exceptionally high magnetic anomalies coincident with historic vanadium samples confirm potential for significant concentrations of vanadium bearing magnetite, with the main anomaly extending for over 2.5 km and up to 600 m wide

  • Historical surface samples of magnetite rich rock chips showed the vanadium potential, with values up to 0.56% V2O5

  • Positively the project is located close to a mining town and accessible all year round, with potential access to deep water and cheap hydro power

  • 3D modelling of the magnetic data in underway to determine drill targets for the upcoming field season in April-May 2019. The historic gold occurrences will also be focussed on. Planning for field work on the Northern Territory Copper-Cobalt projects is also in progress

     

Northern Cobalt is pleased to announce the completion of a detailed helicopter borne magnetic survey over the Snettisham Vanadium Project in southern Alaska. The survey was conducted over an Alaskan-style mafic-ultramafic intrusive complex which is host to significant concentrations of titaniferous and vanadium bearing magnetite. The intrusion extends over 3.8 km along the coast of the Snettisham Peninsula and up to 1.5 km inland. Northern Cobalt has achieved an exceptionally low cost of entry into the project as the previous claims had expired and the project was by acquired by simply pegging new claims over the property.

 

Why is this significant?

  • The main contribution to the magnetic field strength (anomaly) is dominated by the presence of the magnetic mineral magnetite.

  • If a rock contains more magnetite and is closer to the surface it generally has a higher magnetic signature.

  • The magnetic anomalism of between 14,000-24,000 nT for the Snettisham magnetic anomaly points to a significant amount of magnetite at shallow depths within the system.

  • Magnetite is the main vanadium bearing mineral with magnetic concentration having the potential to significantly upgrade the primary iron and vanadium grades.

 

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“The sheer magnitude of the magnetic anomaly at Snettisham gives Northern Cobalt a good indication of significant concentrations and volume of vanadium bearing magnetite in the intrusion. We are currently developing a 3D inversion of the magnetic data which will allow us to model the size and distribution of magnetite within the system. This will allow us to generate drill targets for the upcoming field season.”

- Michael Schwarz (MD).

 

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