News and Announcements
First Drill Results Have Wide and High-Grade Intersections of Cobalt Mineralisation at the Offset and Railway Prospects Near Broken Hill
- Published July 12, 2012 1:14AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
BPL’s planned 21 hole reverse circulation (‘RC’) drill program is now well advanced at the Thackaringa cobalt project near Broken Hill in NSW (Figure 1).
The program was planned to test large geophysical anomalies (zones of strongly conductive and chargeable rocks) which extend for more than four kilometres north-east from the Big Hill Cobalt deposit (refer BPL’s ASX announcement of 6 December 2011). Geology mapping and sampling has shown that the mineralised zone extends along this NE trend. The current drill work is testing for new deposits of economic, near-surface cobalt mineralisation which could add to the existing resources at the nearby Pyrite Hill and Big Hill Cobalt deposits which have combined Inferred Resources of 20.8 million tonnes of 1.87 pound per tonne cobalt (‘lb/tCo”) and potential 14-24 million tonnes of similare grade.
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