Cobalt Blue (ASX:COB) remains focused on green energy technology as it progresses exploration and development programs on the Thackaringa Cobalt Project, located near Broken Hill in New South Wales.
The company has only scratched the surface at Thackaringa, with only 5% of the project having been explored to date.
To find out more, we are joined by Joe Kaderavek, Chief Executive Officer, in Proactive Q&A Sessions™.
PROACTIVE INVESTORS: Welcome Joe.
Cobalt Blue has completed a major resource upgrade. What are the highlights?
Joe Kaderavek: The recently completed FY17 work program has delivered strong results culminating in a significant resource upgrade for the Thackaringa Cobalt Project.
Cobalt Blue declared a 54.9 million tonne combined Indicated and Inferred Resource on 5 June 2017 as a result of this program.
The results show consistent and significant potential for mineralised extensions along strike and at depth across the defined deposits.
Cobalt Blue has announced an additional geophysical program. What are the details?
Joe Kaderavek: We are very happy to announce an additional aerial geophysical program (EM & Magnetics) designed to uncover further cobaltiferous pyrite and other anomalies.
The program is an important addition and will considerably expand the exploration focus covering the entire Thackaringa tenure area of 63 square kilometres comprising ELs 6622 & 8143.
Historically, exploration was focused on only a fraction of this area and we have strong expectations of further cobalt targets.
Building this program into Stage One will allow delineation of additional targets for exploration as the project matures.
How is the project progressing?
Joe Kaderavek: COB remains on track to complete Stage One.
With the inclusion of the 40 million tonnes Indicated Resource target and the aerial geophysical program, the joint venture agreement between COB and Broken Hill Prospecting (ASX:BPL) has been amended to reflect these targets.
The inclusion of the 40 million tonne target is a practical step, representing a stepping stone whilst the joint venture examines a more detailed Stage Two Target, which in turn is driven by the recently delivered Scoping Study.
Stage One is due for completion by 1 April 2018.
PROACTIVE INVESTORS: We appreciate you updating investors in Proactive Q&A Sessions™.