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VSA CAPITAL MARKET MOVERS - M2 Cobalt

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VSA Morning Miner, 10/01/18

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M2 Cobalt (CVE:MC)

M2 Cobalt (MC CN) has announced the completion of the initial 2km of diamond drilling across 15 holes prior to its winter break in mid-December. Samples are now at the ALS Chemex South African Ltd labs for assay analysis with results currently anticipated by mid-February 2019.

The exploration programme as a whole covers the three distinct styles of mineralisation discovered across the major targets identified in the Phase 1 programme. Extensive anomalies of VMS copper cobalt mineralisation were identified at the Kilembe properties in south western Uganda as well as ultramafic nickel, copper, cobalt mineralisation and Katanga style sediment hosted copper cobalt mineralisation at the Bujagali properties in central Uganda. This initial programme was largely focused at Kilembe with the rig planned to follow onto Bujagali after.

We reiterate our Speculative Buy recommendation.

 

 

 

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