Multi-mineral explorer European Cobalt (ASX: EUC) has reported the acquisition of a new licence which expands its existing Dobsina cobalt-nickel-copper project in central Slovakia.
The Western Australian-based explorer wholly owns the Dobsina project which has multiple historical mines and is close to infrastructure including power, water and a railhead.
Through its wholly-owned subsidiary, European Cobalt holds 100% of the newly acquired Rakovec licence, which encompasses 6.66 square kilometres and adjoins the eastern region of Dobsina.
Past mapping at Rakovec identified five element veins – similar to Dobsina and the company’s other licence in the area: Rejdova.
European Cobalt has planned a field-based exploration program that includes geological mapping and sampling to confirm the extent of the historical data. This will be undertaken in conjunction with exploration at the Rejdova licence and will also include detailed evaluation of all historical exploration and mining activities in the area.
The Dobsina project has a rich mining past, with iron ore produced from the area from the 13th century and copper mining originating from the 14th century. Cobalt and nickel were then discovered in the area in 1780 and mined between early-to-late 19th century.
European Cobalt inks alliance with underground miner GBF Group
In a double act today, European Cobalt also announced it has secured a “development alliance” with mining service provider GBF Group.
The agreement covers development of the Dobsina project and GBF will initially provide assistance with underground mine development and refurbishment of underground adits.
Additionally, as the preferred contract Australian-based GBF will collaborate with local mining contractors.
As an underground mining provider for more than 25 years, GBF has previously worked with Gold Fields, Xstrata, Newcrest and Newmont.