Northern Cobalt Ltd (ASX: N27) has released further results from exploration at its Stanton Cobalt Deposit in Northern Territory.
Highlights include 20 metres at 0.31% cobalt (Co), 15 metres at 0.21% Co and multiple shallow individual metre grades of 1.10% Co.
Significantly the latest drilling shows the mineralisation remains open to the south, in an area previously thought to be closed off at the sediment hosted Stanton Cobalt Deposit.
Managing Director, Mike Schwarz, said the results to date indicate promise.
“The occurrence of mineralisation extending to the south of the existing sediment hosted Stanton Cobalt Deposit is very encouraging and the higher than expected assay results from within the existing resource envelopes bodes well for Northern Cobalt’s investors,” Mr Schwarz said.
To date Northern Cobalt has received assays for first 24 drill holes of 57 RC holes drilled on the Stanton Cobalt resource.
A total of 112 holes completed to date across the Stanton Deposit and the surrounding Wollogorang Project, with drilling ongoing.
The Wollogorang Cobalt Project occurs in the far north-eastern corner of the Northern Territory and 870 km to the south-west of Darwin.