The Ghan Well Cobalt-Nickel Deposit (100%)

March 2018

Highlights

  • Substantial cobalt and nickel mineralisation identified in existing drilling
  • Prospective ultramafic sequence extends 12 kilometres as yet untested by drilling
  • Scope for a substantial cobalt-nickel resource
  • Adjacent to Glencore’s Murrin-Murrin nickel-cobalt processing facility

The Ghan Well cobalt and nickel project is located in the north-eastern goldfield of Western Australia approximately 70 kilometres from Laverton and 26 kilometres from Glencore’s Murrin-Murrin cobalt and nickel processing plant.

Cobalt mineralisation occurs as a shallow layer of cobalt enriched manganiferous oxides that form between the smectite clays and the overlying ferruginous clays. High grade cobalt mineralisation typically occurs between 10-30 metres depth and is associated with nickel mineralisation. Results include:

  • 12m at 0.15% cobalt and 0.78% nickel
  • 11m at 15% cobalt and 0.99% nickel
  • 8m at 0.16% cobalt and 0.83% nickel
  • 6m at 21% cobalt and 0.78% nickel
  • 4m at 27% cobalt and 0.75% nickel

In addition, extensive soil geochemical sampling has highlighted multiple cobalt anomalies along the ultramafic sequences which extend for 12 kilometres within the White Cliff tenement. Only a fraction of the ultramafic sequences have been drill tested.

The Company has sought government approval to conduct drilling to verify the existing results and to provide material for metallurgical test work. If the initial exploration is promising the Company will conduct further drilling to define JORC compliant cobalt and nickel resources.

Figure 1: Regional mining Infrastructure surrounding the Ghan Well Cobalt project.

 

Figure 2: Location map of drilling and cobalt mineralisation at Ghan Well near Laverton in Western Australia. Yellow and green dots are historical drill hole locations