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Project Summary

  • Update: Following receipt of the Change of Control Approval from the NSW Minister, the acquisition of FUA Resources Pty Ltd was completed on 8 June 2018.

  • Cobold Metals Ltd, via its wholly owned subsidiary Eastern Prospector Pty Ltd, has entered into an agreement to purchase the shares in FUA Resources Pty Ltd

  • FUA Resources hold EL 8486 and EL 8693 exploration tenements over a cobalt-rich nickel laterite in central NSW

  • Tenure is located approx. 20km from Young, NSW

  • Past exploration in 1999–2000 has defined historic JORC resources on the tenements which have minimal drilling

  • EL 8486 has over 20km of strike for drill testing

  • Target is a large tonnage cobalt–nickel resource with scandium credits

  • Cobold's tenure and deposit is adjacent and along strike to Jervois Mining Ltd (ASX: JRV) Thuddungra Cobalt-Nickel project. Cobold and Jervois  share the same geology and the same cobalt-nickel mineralisation which strikes through both company's tenements.

Young Co-Ni Project, NSW

On 20 November 2017, Jervois announced an updated mineral resource comprising a JORC inferred resource of 167.8Mt @ 0.59% Ni and 0.06% Co (using a 0.6% Ni equivalent cut-off), including a higher grade zone of 42.5Mt @ 0.80% Ni and 0.09% Co *using a 1.0% Ni equivalent cut-off).

Focusing on Co within this mineral resource, a JORC inferred resource of 99.1Mt @ 0.58% Ni and 0.08% Co (using a 0.05% Co cut-off) including 33.4Mt @ 0.66% Ni and 0.12% Co (using a 0.08% Co cut-off) was derived.

 

Link to announcement

Jervois plan to commence pre-feasibility studies (PFS) and are forming a PFS team. Jervois wish to commence construction and production as soon as possible in order to take advantage of the forecast shortage of key raw materials for lithium ion cathodes.

Link to announcement

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