The Mount Gordon licences are close to the historical Mount Oxide and Mount Gordon copper mines, the latter of which is being restarted by Capricorn Copper.
Cohiba now holds multiple prospective cobalt-copper tenements over more than 15 kilometres of potential strike length.
Work to determine exploration program
The company will carry out surface mapping and sampling to determine the most efficient exploration program at the project area.
This process will include reviewing historical data.
The new licences are along strike and north of the Mount Gordon Esperanza and Mammoth deposits and straddle the Mount Gordon North anomalies and the Mount Oxide mine.
In Mount Isa region
They are in the Western Succession of the Mount Isa inlier, circa 120 kilometres north of Mount Isa.
Historical cobalt intersections in the Mount Gordon mine reach as high as 0.36% cobalt at depth with similar grades reported at the former Mount Oxide mine.