Northern Cobalt has been granted an additional five tenements surrounding its existing three tenements at the Wollogorang Cobalt Project in the Northern Territory.
|Image Source: Northern Cobalt|
This increases the company's tenure from 1,131 km2 to 4,986 km2 - an increase of approximately 341% of the existing tenure, covering ground prospective for cobalt. The company originally applied for the ground in March 2017, which covers the same prospective geology that hosts the Stanton Cobalt Deposit and the Selby Cobalt Prospects.
Northern Cobalt has applied for an additional two tenements across the border in Queensland. The Gold Creek Volcanics, which are host to the Stanton Cobalt Deposit, extend across the Northern Territory/Queensland border into the area covered by applications EPM 2675 6 and EPM 2 6 757. Two rock chip samples taken by historical explorers show elevated cobalt values of more than 800ppm Co within the application area.
Managing Director, Michael Schwarz, commented that the Stanton Cobalt deposit is only the beginning in this region for Northern Cobalt.
"As our geology team begins to unlock the exploration space of the metalliferous Gold Creek Volcanics, we see the potential for multiple examples of cobalt mineralisation in the region", said Mr Schwarz.