HIGH GRADE COBALT ROCK AND SOIL ASSAYS ADVANCE MULLIGAN
High grade cobalt 9.2% with 16.5g/t silver and 14.3g/t gold assays in grab samples
Significant cobalt-silver geochemical anomalies with 209ppm cobalt and 807ppb silver reported in soil assays
Detailed mapping and rock/soil assay results demonstrate the potential for significant primary cobalt mineralisation at the Mulligan Cobalt Project
Newly defined geochemical anomalies will be followed up by a detailed IP survey to generate drilling targets
The cobalt–rich polymetallic vein system (Co-Ag-Ni-Cu-Au) at Mulligan is typical of the of the famous Cobalt Camp 50km to the south Canadian cobalt and copper-nickel-PGE explorer
Meteoric Resources NL (ASX: MEI; “Meteoric” or the “Company”) announces the results of a detailed geological mapping and soil / rock chip sampling program completed at its 100% owned Mulligan Cobalt Project located in Ontario, Canada. The Mulligan Cobalt Project is located approximately 50 kilometres north of the famous Cobalt Camp (Figure 1) in Northeast Ontario.
Meteoric’s Mulligan Cobalt Project consists of 2 mining claims covering 0.8km2 (80Ha) considered highly prospective for primary cobalt mineralisation. The cobalt-silver-nickel-gold anomalies interpreted from this new work provide the exploration team with a high degree of confidence in identifying primary cobalt mineralisation at Mulligan.
Based on the results of the mapping and geochemical analysis, Meteoric has moved quickly and commissioned a closely spaced (100m), ground based Induced Polarisation (IP) geophysical program, aimed at generating highly defined primary cobalt targets for drilling. The information generated from the IP geophysical will be modelled in 3-dimensions and provide Meteoric with modelled plates for a targeted diamond drilling campaign, planned for H2CY18.
Meteoric MD Dr Andrew Tunks stated: “The new mapping and geochemistry results highlight the strong potential for cobalt mineralisation at the Mulligan Cobalt Project and provide the Company impetus to proceed with the next phase of exploration, a closely spaced IP survey that will define drilling targets. The IP survey will commence in the coming weeks as soon as the Northern winter allows, our new Cobalt Manager Tony Cormack is closely monitoring this situation. As the new MD my exploration philosophy is only drilling can create true project value and it is our goal to drill test our targets as soon as practicable.”
He's spot on there.
Good job by the Tunksmeister general, he's kicking some goals
