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The Mt Cobalt project is located 40km west of Gympie in Queensland. The Company has identified a new cobalt target south of Mt Cobalt centred on a recently identified historic mine, and this new zone extends the overall cobalt target to approximately 800m in length.
Reverse Circulation (RC) drilling chips for hole COB 17 (first hole of the program)
Mt Cobalt is situated within EPM 19366 (100% held by Aus Tin Mining) and was historically the centre of mining for high grade, cobalt-manganese rich mineral asbolite (asbolite is also mined in the Democratic Republic of Congo, New Caledonia and Zambia. Historical records for the Smith mine (approximately 200m south of Mt Cobalt itself) report mining a lode approximately 7m in true width to a depth of 25m with a grade of 7.5%Co, 2.5% Ni and 18%Mn. For comparison, typical economic grades reported for cobalt deposits range from 0.1 to 0.15 percent. Rock chip samples taken from within the target area assayed up to 1.66%Co.
During the second half of 2016, Aus Tin Mining completed nine Reverse Circulation (RC) holes at Mt Cobalt, with the results demonstrating the potential for high grade cobalt extensions down dip of historic workings, the most notable intersection included 7m @ 0.84%Co, 0.83%Ni or 1.13%Co
Furthermore the drilling extended the zone of nickel oxide mineralisation at Mt Cobalt and reinforces previous work highlighting the potential for a large scale nickel oxide deposit.
Asbolite observed in exposed shear zone