Cobalt Blue Holdings Ltd (ASX:COB) has outlined its work program for the remainder of 2017 at the Thackaringa venture in western New South Wales.
Thackaringa differentiates from other cobalt projects around the world, as it is one of the rare “pure cobalt” plays.
This means Thackaringa has the potential to focus upon cobalt. The vast majority of projects produce cobalt as a by-product.
Cobalt Blue is therefore focused on the battery market, and in particular on combining cobalt and sulphur into a cobalt sulphate crystal.
Thackaringa ore, with both elements occurring naturally, has a significant advantage.
Work program
The company said even after the considerable ground work done so far, the mineralisation remains open at depth and along the entire 4.5 kilometre resource strike length.
More work is required to outline the full scope of the cobalt resource.
An airborne geophysical program is planned to be completed by year’s end, which is expected to enhance targeting across the project area, where minimal modern exploration techniques have been applied.
With drilling, the next step is to outline a 40 million tine Indicated Resource target.
This will require around 10,000 metres of additional drilling, and will commence during Q3 2017.
The company's intention is to have site work completed by year end.
Work on a Preliminary Feasibility Study (PFS) has also begun, with planning and budgeting underway.
The PFS will be developed in parallel with the drilling program, and we are examining options to fast track both.
Processing options
The company will also commence bulk sampling to further optimise processing options.