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GTE ASX RELEASE Yerrida Cobalt

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    RIR neighbours might be interested in this:

    ASX Code: GTE ASX RELEASE 4th May 2017 Yerrida Cobalt

    Great Western Exploration Limited (‘the Company”; “Great Western”) would like to provide an update on the Company landholdings in the Yerrida basin (“Yerrida”) after receiving many enquiries related to the announcement on the 3rd May 2017 by Riva Resources Limited (“Riva”; ASX: RIR) of a potential significant cobalt discovery at its nearby Tabac Project.

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    In its announcement, Riva indicated they may have made a significant cobalt discovery that is a new style of cobalt mineralisation not previously recognised in the Yerrida or elsewhere in WA.

    With the benefit of being an early mover in the Yerrida, Great Western has accumulated one of the largest landholdings in the region (approximately 2,735 km2) that it believes is highly prospective for copper, gold, cobalt and nickel (fig 1). This area includes the northern tenement package which was recently the subject of a joint venture with Sandfire Resources NL (“Sandfire”; ASX: SFR) (Refer ASX release dated 12 April 2017).

    Great Western is entering an exciting phase in its evolution and we look forward to providing further updates with respect to our progress at both Yerrida and Yandal West. The company is in the enviable position of having significant tenure in both districts


    Great Western has been focused in the Yerrida on the discovery of three different styles of mineralisation; sedimentary hosted base metal (SEDEX), VMS style base metal massive sulphide and magmatic nickel – copper – cobalt. The Company believes it has identified areas highly prospective for these styles of mineralisation

    As work completed by the company to date has established that the geological setting within its project areas are conducive for these types of deposits the Company will continue to focus on them. However, it will monitor Riva development with interest and should cobalt be confirmed in assays, then the company will progress potential similar targets within its own large landholding located within close proximity of the Tabac Project.
 
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