Riva Resources commences drilling at Tabac cobalt-gold project
Published 13-APR-2017 10:50 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
Riva Resources (ASX: RIR ) announced on Thursday that drilling was underway at its Tabac cobalt-gold project located near Wiluna in the Northern Goldfields region of Western Australia.
While historical drilling between 1982 and 1984 wasn’t targeting cobalt mineralisation, the group conducting the exploration program (ACM Limited) identified some outstanding intercepts of cobalt-bearing stromatolitic carbonates.
These included 80 metres grading 0.77% cobalt from 170 metres, including 10 metres at 1.47%, well above the average grades of deposits in the prolific Democratic Republic of the Congo, the region which supplies the majority of the world’s cobalt.
Another significant intercept as indicated below was 30 metres at 0.3% cobalt from 358 metres, including 10 metres grading 0.86 grams per tonne gold.
RIR’s strategy is to drill a diamond hole adjacent to the shallower of the two significant historical drill holes, which reportedly intersected the higher grade cobalt.
It should be noted that the company is in its early stages and investors should seek professional financial advice if considering this stock for their portfolio.
Following completion of the first hole, RIR will commence drilling of the planned Southern holes as part of the Rosslyn Hill Mining (RHM) approved program before returning to the Tabac project.
Managing Director, Jonathan King, described the initial target as ‘the most anticipated cobalt drill hole in Australia’, and he is expecting drilling to be completed within 10 days, with assay results expected in early to mid-May.
Riva close to finalising RHM farm-in
Management also announced today that the company is close to finalising documentation for the previously announced exploration farm-in with RHM, owner and operator of the adjacent Paroo Station lead mine.
The agreement will provide access to RHM’s project database and infrastructure, as well as the right to earn 75% of the cobalt, gold and copper mineral rights on its tenements. Should the deal be finalised and RIR were to replicate historical drilling intercepts at Tabac this would have a significant impact on the company’s valuation.
However, looking at the bigger picture, the Yerrida Basin region could potentially be viewed as a new cobalt province. Should RIR have exploration success, the location of RHM’s existing infrastructure could assist in processing ore from Tabac and/or Paroo Station.
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.
