Bankable Feasibility Study Commences with Drilling Campaign and Project Optimisation Studies

2018 – 2019 drilling campaign to target improved Mineral Resource classification and growth.

KEY POINTS:

  • Following completion of a Pre-Feasibility Study (PFS), the Thackaringa Cobalt Project has entered the Bankable Feasibility Study (BFS) phase. We are pleased to update the market on progress.
  • Cobalt Blue Holdings Limited (ASX:COB) is commencing the largest single drilling campaign at Thackaringa – in excess of 15,000 metres will be drilled over the coming six months. Previously, between 2H 2016 and 1H 2018, COB has drilled a total of 20,445 metres (38 diamond drill holes, 93 RC drill holes, and 3 RC drill holes with diamond tails) over three campaigns.
  • Updated Resource Model due end Q2 2019.
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