Grab samples confirm Auroch’s Tisova project is prospective for cobalt
Published 24-AUG-2017 14:19 P.M.
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2 minute read
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Auroch Minerals (ASX: AOU) has released some promising results from grab samples taken at its Tisova mine in the Czech Republic. These were taken from the second round of sampling from the multi-element historic waste dumps at Tisova, and importantly confirmed the presence of cobalt.
From a broader perspective, the best results included cobalt grading 0.69%, as well as copper grading 17.1%, 3.7 ppm gold and 178 ppm silver.
AOU has a nine-month option agreement to acquire 100% of the Tisova Cobalt Copper Gold Project which is located in the heart of the European industrial hub.
With a long history of copper production the mine has infrastructure in place, a potentially significant benefit should AOU be in a position to quickly transition to production.
It should be noted here that AOU is still in its early stages and investors should seek professional financial advice if considering this stock for their portfolio.
With drilling approvals now secured for the initial exploration program, the upbeat results have confirmed management’s expectations regarding the prospect of identifying a polymetallic orebody with economic grades of cobalt.
Chief Executive, Dr Andrew Tunks went a step further in saying, “Further, our analysis of historic drilling at Tisova demonstrates the potential for a substantial tonnage orebody with over 1 kilometre of strike and dip confirmed in the data, and more importantly open at depth and along strike.”
AOU will be conducting a 12 hole/5500 metre drilling program which management expects will commence in mid-September with an initial four holes in the diamond drilling phase.
This will allow management to examine the spatial distribution of the metals within the deposit, data that will be valuable in shaping the company’s ongoing exploration strategy.
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