Australian mining company Cazaly Resources (ASX:CAZ) continues to accelerate exploration at its Kaoko Kobalt project, located in northern Namibia, with an airborne electromagnetic (EM) and magnetics survey already underway.
The company acquired the project in April this year and since this time has increased its land position, set up a local exploration team and conducted surface copper exploration.
The latest EM survey is seeking conductive horizon formations including sulphide mineralisation, which the company believes is highly prospective for copper as well as the increasingly in-demand battery metal, cobalt.
Cazaly will be using the same airborne survey team as neighbouring miner Celsius Resources (ASX:CLS), which is developing the much touted Opuwo Cobalt project.
Celsius recently announced a stunning maiden resource at Opuwo of 112Mt @ 0.11% cobalt and 0.41% copper.
The EM team will look to cover a total of 1,549 line kilometres at the Kaoko Kobalt project, with spacing at 200-500 metres at seven specific target areas.
Cazaly continues to remain invested in Kaoko’s significant potential, with joint managing director Clive Jones commenting at the time of project acquisition:
This region in Namibia appears to be a significant emerging cobalt bearing belt having remarkable similarities with the Central African Copperbelt in the DRC and Zambia.
“This is an ideal time to be exploring for large resources of cobalt where we are seeing cobalt prices continuing to surge on the back of growing concern that future supplies may be unable to meet burgeoning demand,” he said.
Cazaly expects to maintain its frenetic pace. At the completion of the survey work, the company has signified its intention to followup key targets with a drilling campaign.