COB 0.00% 14.0¢ cobalt blue holdings limited

Thackaringa Cobalt Project Australian Mines’ 100%-owned...

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    Thackaringa Cobalt Project
    Australian Mines’ 100%-owned Thackaringa Cobalt Project immediately adjoins Cobalt Blue’s
    (ASX: COB) Pyrite Hill / Railway / Thackaringa cobalt project in New South Wales.
    Mapping undertaken by the New South Wales’ Geological Survey indicates that the favourable
    geology hosting Cobalt Blue’s neighboring cobalt mineralisation appears to continue through
    Australian Mines’ project area.
    The presence of potential cobalt-bearing rocks within the Company’s Thackaringa Project was
    reaffirmed by Australian Mines’ exploration team who subsequently identified three high-priority
    target areas (nominally labeled Target Areas A, B and C in Figure 5) that warrant further testing.
    Encouraged by the results of its comprehensive review and analysis of the open-file data, last
    month, Australian Mines signed a Land Access Agreement with the relevant landholders, which
    allows the Company to immediately commence exploration across its entire Thackaringa project
    area18
    .
    Mindful that June to August is the prime lambing season across the Broken Hill region, Australian
    Mines has elected to delay its on-ground activities at Thackaringa until September at which time
    the Company’s will commence a two-pronged exploration program of:
    i. Tight-spaced surface geochemical sampling program on a 100 by 40 metre regular grid
    over each of the three high-priority cobalt target areas, and
    ii. Airborne electromagnetic (EM) survey over the entire tenement area.
    It is expected that the airborne geophysical (EM) survey will ‘map’ the cobalt-hosting pyritic
    geology present across project area, with a particular emphasis on identifying sub-cropping
    cobaltiferous rocks that may not be readily apparent when outcrop mapping.
    The detailed soil sampling and rock chip program, on the other hand, will enable Australian Mines
    to accurately target its maiden drilling campaign at Thackaringa allowing for an accelerated
    progression from early-stage exploration to potential resource estimation19
    .

    Screenshot_20170728-105029.png
 
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