Meteoric kicks off Canadian cobalt hunt
Junior explorer, MeteoricResources NL (ASX:MEI), this morning informed the market that it has kicked offfield work on its cobalt properties in Ontario, Canada.
This is the start of acomprehensive and fully funded exploration program, targeting high-grade,primary cobalt mineralisation.
MEI has in its arsenal fivehighly prospective primary cobalt projects in Ontario. The company's exploration strategy here is primarily focusedon historical workings for high-grade cobalt and silver.
Correspondingly, MEI hasstrategically acquired properties that are prospective for high-grade cobaltand silver mineralisation due to historical exploration and productionactivities - including the Mulligan property, which produced eight tonnes ofcobalt ore grading 10 per cent cobalt.
MEI's highest priority willbe running geophysics and starting to drill at these locations to confirmhigh-grade primary cobalt mineralisation. Line-cutting and ground geophysicscrews are set to mobilise initially to the Mulligan cobalt project to conductclosely spaced induced polarisation, magnetics and resistivity surveystargeting the geological structures that control known cobalt mineralisation.
MEI's cobalt manager, TonyCormack, is travelling to Ontario to oversee geology, geophysics and drilling.Under Cormack's direction, the field teams will systematically work through allof MEI's cobalt projects to conduct geophysical surveys in preparation fordrilling.
Get the latest articles straight to your inboxkeep me postedThe Mulligan property willform the first target of MEI's drilling campaign. This program is set to beginafter geophysical targeting has been completed, based on the work program beingundertaken in the coming weeks.
It should be noted that MEI is still in its early stagesand investors should seek professional financial advice if considering thisstock for their portfolio.
MEI managing director, DrAndrew Tunks, said: "It's an exciting time for the Meteoric team and itsshareholders - the field season in Ontario, Canada is upon us."
"Meteoric has compiled aquality package of highly prospective primary cobalt projects in Ontario withthe great assistance from our partners at Orix Geoscience. We have also addedTony Cormack to the team; he is flying out to Canada to oversee the geophysicsand drilling. I can assure you that I will very much look forward to regularupdates on progress from Tony, as I am sure will all our shareholders," Tunkadded.
Cormack commented: "Thereason I joined Meteoric was because of their cobalt ground. Every cobaltproject has been well considered by Meteoric, with all 5 projects being highlyprospective for primary cobalt mineralisation.
"Andrew has a strong cobaltfocused strategy which I like, and he is certainly getting the right teamtogether to deliver. It's great that we have the entire field season fullyfunded, and with such great ground to work I have been eager to get across toCanada for some time. That time has now come, so I look forward to gettingalongside our great partners at Orix Geoscience and Canadian ExplorationServices (CXS), and get Meteoric's exploration for high grade cobalt underway,"said Cormack.
MEI'sprimary cobalt properties in Ontario
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