Northern Cobalt strikes higher-grade cobalt at Running Creek

Northern Cobalt (ASX: N27) has struck more cobalt at its flagship Wollogorang project in the Northern Territory, with this latest higher-grade find occurring within the Running Creek prospect, which is less than 2km from the project’s primary Stanton deposit.

Portable XRF readings have returned intersections of 8m at 0.1% cobalt, including 4m at 0.15% cobalt.

Other XRF readings returned 1m at 0.24% cobalt and 2m at 0.12% cobalt.

According to Northern Cobalt, cobalt mineralisation has now been intersected over a large 400m by 500m region.

The company’s reinterpretation of geological data has linked individual mineral systems and resulted in the discovery of the higher-grade cobalt at the western end of Running Creek.

“The development of a new geological model for controls on mineralisation at Running Creek continues to deliver results for both cobalt and copper,” Northern Cobalt managing director Michael Schwarz said.

“With an induced polarisation survey underway at Running Creek and GregJo prospects, we hope to add cobalt and copper resources in addition to those at the Stanton deposit,” Mr Schwarz added.

This latest cobalt discovery adds to the copper find at the same prospect earlier this month where XRF readings revealed a 55m copper intersection grading 0.72%. The intersection included two higher grade intervals of 33m at 1% copper from 11m and 7m at 2.1% copper from 18m.

Wollogorang continues giving up cobalt and copper

Northern Cobalt kicked-off its 2018 drilling campaign in May this year to firm up as many targets as possible across the large Wollogorang asset which comprises more than 4,986 square kilometres in granted tenements.

This year’s field season has led to the identification of Running Creek and GregJo prospects and has unearthed thick intervals of copper mineralisation, which remains open along strike at GregJo.

Mr Schwarz said GregJo now has a larger footprint that the project’s primary Stanton cobalt deposit which has a resource of 942,000t grading 0.13% cobalt, 0.06% nickel and 0.12% copper.

Much of the mineralisation identified at Stanton extends from surface to 90m depths, which makes it amenable to a lower-cost open pit operation.