Cobalt Blue’s Board is very confident that it has a world class cobalt project on its hands after recently delivering a successful Scoping Study for the Thackaringa venture in western New South Wales. The optimal path for processing which was tested during the study achieved a ~90% cobalt recovery from in-ground to payable metal.
Cobalt Blue has achieved a considerable amount since listing on the ASX in February. We have completed a substantial drilling campaign at Thackaringa (8,000 metres) and declared a combined 55Mt Inferred and Indicated Resource @ 910 ppm cobalt (5 June). With almost 50,000t of contained cobalt that we know about, and other prospective parts of the tenements yet to be tested, Thackaringa is undoubtedly a globally significant resource.