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It would appear there is a delay with the assays as we were...

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25/07/18

20:14

Post #: 34563318
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Originally posted by gpHiggsBoson ↑

IIR’S COMMENTS

The initial results from Hylea’s drilling programme (Figures 3 to 5) confirm the potential of the Hylea Cobalt Project, with assay results being of the same tenor to, or higher than those from other similar projects in the Fifield Igneous Province.

The significant upside potential is further enhanced by the results of the soil sampling, which has identified three large soil cobalt anomalies in previously undrilled areas. In addition to the high tenor broader intercepts, the drilling intersected what we consider some very high individual one metre assays for the style of mineralisation, including up to 0.61% cobalt, 1.38% nickel, 10.55g/t platinum and 720ppm scandium, with laterite profiles being intercepted up to a depth of up to 60m, however the mineralisation is generally shallow, starting from as shallow as 2m from surface.

A key factor of the results of the drilling is that the basement rocks intersected are dominated by olivine-rich dunites and peridotites, which are the precursor rocks to the higher grade laterite-hosted mineralisation in the Fifield region; in addition, although preliminary, the results The investment opinion in this report is current as at the date of publication.

Hylea Metals Limited (ASX: HCO) Independent Investment Research indicate a possible concentric zoning from a cobalt-nickel rich core to a scandium rich periphery of the main mineralised zone - this was apparent in the limited historic drilling and is a typical feature of these deposits, with the geochemistry reflecting in part the underlying intrusive types.

The complexes commonly exhibit a zonation from dunite/peridotite, through pyroxenites to monzonites and then to more granitic phases. We are also very encouraged by the results of the magnetics and soil sampling (Figure 2) which have identified a mineralised trend extending NW from Tiger’s Creek, and most likely controlled by the underlying intrusive phases.

This highlights the potential for the Project to host significant resources - a key to the commercial viability of laterites is a resource large enough to carry the significant capital required and deliver the economies of scale that result from a high processing throughput. All in all the results bode well for the Project.

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It would appear there is a delay with the assays as we were getting updates every 8 trading days.
Did expect an update last Thursday.
Possible we may get all the last drill results in time for the quarterly reports.

Assays results and future plan, targets and drill activities is going to be very interesting.

HCO Price at posting: 0.7¢ Sentiment: Buy Disclosure: Held
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It would appear there is a delay with the assays as we were...

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