European Cobalt (ASX: EUC) has reported high grade cobalt, copper and nickel from initial sampling of historical mining waste at its 100%-owned Dobsina project in Slovakia.
In its latest market announcement, the company revealed its waste samples had returned up to 3.14% cobalt, 11.1% copper and 8.57% nickel.
“The high-grade mineralisation reported at Dobsina from sampling of waste dump material is testimony towards the very high historical cut off grades required at that point in time, in which the mineralisation was mined,” European Cobalt managing director Robert Jewson said.
The company has evaluated 16 out of 42 waste dumps throughout the project, with further sampling and metallurgical test work to follow.
In order to gain a better understanding of previous activities, an airborne high-resolution light detection and ranging survey has been planned for late October.
In addition to evaluating mine waste, exploration at the project has included trenching with the company announcing on Monday it had identified shallow cobalt and nickel in the three trenches and roadside cutting it had dug so far.
Mr Jewson said the results have refined the company’s understanding of the mineralisation’s extent across its landholding.
“The 100% success rate of identifying the prospective zones with visible cobalt-nickel-copper mineralisation is testimony to the prolific nature of mineralisation within the project.”
He added the discovery of mineralisation in a roadside cutting “highlights the potential of significant additional exploration success through field-based reconnaissance.”
The Dobsina project hosts multiple historical mines and has the advantage of proximity to power, water and rail infrastructure.
In historical operations, average grades of 4% cobalt an 16% nickel were produced.
Within five minutes of market open, European Cobalt’s stock price had risen more than 13%.