Significant Thackaringa Drilling Program complete – Resource Upgrade pending

Final tabulation of the assay data is now complete and updating the geological models and mineralisation domains has commenced. New resource estimates for each of the deposits expected by end February.

Release highlights:

  • Cobalt Blue Holdings Limited (ASX: COB) is pleased to provide the final assays from its major 2H 2017 resource definition drilling program at the Thackaringa Cobalt Project NSW.
  • The results demonstrate strong continuity along both strike and down dip at the Railway, Pyrite Hill and Big Hill deposits.
  • Assay results are being incorporated into geological models in preparation for a Resource Upgrade (expected by end February).
  • The 2H 2017 drilling program totaled 74 holes; 16 Diamond Drill (DD) holes and 55 Reverse Circulation (RC) drill holes and 3 RC holes with DD tails for a total 12,458.7 metres. The program is designed to upgrade to Indicated Resource, expand the overall resource base, provide comprehensive geotechnical information and provide sample for additional metallurgical testing
  • The current announcement summarises the results for the final 55 holes of the
    drilling program. Best intercepts include:

    • 17THR059 – 40m at 1,056ppm Co, 11.8% S & 14.3% Fe from 95m
    • 17THR065 – 39m at 1,010ppm Co, 10.3% S & 9.9% Fe from 125m
    • 17TRD073 – 67m at 1,144ppm Co, 12.7% S & 13.0% Fe from 72m
    • 17THR088 – 47m at 1,194ppm Co, 11.6% S & 11.3% Fe from 107m
    • 17THR091 – 48m at 1,147ppm Co, 11.4% S & 11.3% Fe from 156m
    • 17THR094 – 75m at 1,207ppm Co, 11.9% S & 11.8% Fe from 149m
    • 17THD020 – 59m at 1,119ppm Co, 12.9% S & 12.0% Fe from 24m
    • 17THD027 – 99m at 1,185ppm Co, 10.7% S & 10.0% Fe from 32m