No you are right, is based on similar geology as opposed to extension of COB (nearology).
"The Stirling Vale Synform appears to bear similar geology to Cobalt Blue’s (ASX:COB) Pyrite Hill Geology with the “Pl2” pyritic bearing horizon present, as shown below by the black arrows in figure 3."
Ann: Broken Hill EL8747 Cobalt Assay Results, page-10
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