Drilling by Broken Hill Prospecting (BPL) at the Railway cobalt prospect near Broken Hill in far west New South Wales has intersected thick, high-grade zones of cobaltiferous pyrite.
Highlights of the intersections include 14 metres of 2.42 pounds/tonne cobalt, 15 metres of 2.92 pounds/tonne cobalt and 45 metres of 3.85 pounds/tonne cobalt, which is more than double the grade confirmed at the nearby BPL Pyrite and Big Hill cobalt deposits.
The wide-spaced drilling intersected near-surface cobaltiferous pyrite mineralization within a zone which trends more than 1.5km and is up to 300 metres wide. The mineralization is open along trend and at depth.
The drill program was designed to test large geophysical anomalies which extend for more than 4km north-east from the Big Hill cobalt deposit. Mapping and sampling has shown that surface mineralization extends along this trend.
The drilling will explore for new deposits of economic, near-surface cobalt mineralization which could add to existing resources at the Pyrite Hill and Big Hill cobalt deposits which have combined inferred resources of 20.8 million tonnes of 1.87 pounds/tonne cobalt and potential for 14-24 million tonnes of similar grade. The mineralization is close to surface and could be mined by open cut.
BPL plans a scoping study to investigate a 7.5 million tonne/year open cut mine with annual production of pyrite concentrate containing about 7000 tonnes of cobalt.
The company’s managing director Ian Pringle says the location of BPL’s deposits will be a great advantage for any future development and production. “They are only a few hundred metres from the main trunk railway line and close to the Adelaide-Broken Hill highway.”