High-grade cobalt results advance MEI’s Mulligan Project
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Meteoric Resources NL (ASX:MEI) this morning revealed the results of a detailed geological mapping and soil/rock chip sampling program at its Mulligan Cobalt Project in Ontario, Canada.
The Mulligan Project consists of two mining claims covering 0.8 square kilometres (80 hectares) considered highly prospective for primary cobalt mineralisation. The cobalt–rich polymetallic vein system here is typical of the renowned Cobalt Camp, which is situated 50 kilometres to the south.
High grade cobalt (9.2 per cent), silver (16.5 grams per tonne) and gold (14.3 grams per tonne) assays were reported in rock/grab samples, along with 209 parts per million cobalt and 807 parts per billion silver in soils.
Significantly, the cobalt-silver-nickel-arsenic geochemical anomalies occur consistently together in the same geological domain. This provides MEI with strong confidence in beginning the next phase of exploration, which will target high grade primary cobalt mineralisation at the Mulligan Cobalt Project.
Of course, as with all minerals exploration, success is not guaranteed – consider your own personal circumstances before investing, and seek professional financial advice.
MEI’s Mulligan Cobalt Project (Source: Meteoric)
Based on the promising results of the mapping and geochemical analysis, MEI has moved quickly, commissioning a closely spaced, ground based Induced Polarisation (IP) geophysical program, aimed at generating highly defined primary cobalt targets for drilling.
The information generated from the IP geophysical will be modelled in three dimensions, and will provide MEI with modelled plates for a targeted diamond drilling campaign, which planned for the second half of the year.
MEI managing director, Dr Andrew Tunks, said: “The new mapping and geochemistry results highlight the strong potential for cobalt mineralisation at the Mulligan Cobalt Project and provide the company impetus to proceed with the next phase of exploration, a closely spaced IP survey that will define drilling targets.”
“The IP survey will commence in the coming weeks as soon as the northern winter allows; our new cobalt manager Tony Cormack is closely monitoring this situation.”
“As the new MD, my exploration philosophy is that only drilling can create true project value and it is our goal to drill test our targets as soon as practicable,” Tunks continued.
General Information Only
This material has been prepared by Jason Price. Jason Price is an authorised representative (AR 000296877) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C), and a Director of S3 Consortium Pty Ltd (trading as StocksDigital).
This material is general advice only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with personal financial or tax advice and does not take into account your personal objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, Jason Price, StocksDigital, any of their related body corporates or any other person. To the maximum extent possible, 62C, Jason Price, StocksDigital, their related body corporates or any other person do not accept any liability for any statement in this material.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
