New cobalt targets identified at N27’s Selby Pipe Cluster
Published 17-JAN-2018 10:10 A.M.
|
2 minute read
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
Northern Cobalt (ASX:N27) informed the market it has examined historical drilling and rock chip sample results at the Selby Pipe Cluster and identified “Stanton-style” cobalt-copper mineralisation in several structures.
The new mineralisation discovered is in addition to N27’s further 21 prospects at its Running Creek Pipe Cluster, which includes the Stanton Cobalt Resource.
The findings at the Selby Pipe Cluster, 16 kilometres south-west of the Stanton Cobalt Deposit in the Northern Territory, are part of a regional review of cobalt drill targets in preparation for the upcoming drilling campaign. Previous explorers identified similarities between breccia “pipe-like” structures at the Stanton-Running Creek area and those at Selby, however the historical exploration work focused on diamond and phosphate, and largely overlooked the cobalt potential at the site.
Looking at the historical results in closer detail, copper-cobalt and “pathfinder element concentrations” have been encountered in the quartz-rich Echo Sandstone at high levels.
According to N27, “The Echo Sandstone and Karns Dolomite have the potential to act as good host rocks for mineralisation, similar to the sandstone host rocks encountered at Stanton”.
The company intends to conduct a detailed airborne magnetic and soil sampling survey over the region to evaluate its full potential.
Secondary copper mineralisation on a fracture surface in sandstone at Selby. Source: Northern Cobalt
The historical drilling at Selby comprised 102 holes with an average depth of 54 metres. The holes were collared at or just above the Karns phosphatic sandstone horizon — continuing into the underlying quartzose Echo Sandstone.
While anomalous base metals were reported in numerous holes, there were no assays considered economically significant, or indicative of diamondiferous kimberlite.
However N27 is in its early stages here and investors considering this stock for their portfolio should seek professional financial advice.
Highlights included 16% phosphorus pentoxide, 0.19% copper, 0.14% cobalt, 0.08% lead, 0.07% zinc, 0.3% barium, 246 ppm silver and 260 ppm uranium.
Source: Northern Cobalt
Of particular note is the fact that high copper and cobalt values were obtained at various depths, and were not necessarily in the layers that were targeted at the time.
Given the fact there are no drill logs available and the historical assay strategy is unknown, it is possible that sandstone-hosted base metal mineralisation in this area has not been properly tested, particularly at depth.
Source: Northern Cobalt
The announcement follows N27’s news last week that it had commenced its scoping study at its Stanton Cobalt Deposit, with diamond core results from a recent drilling program expected in late February.
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.
