Proactive Investors - Run By Investors For Investors

Aus Tin Mining Ltd flies on cobalt target found near Gympie

Aus Tin Mining Ltd flies on cobalt target found near Gympie

Aus Tin Mining Ltd (ASX:ANW) has identified a new high-grade cobalt target centred on historic high-grade workings south of Mt Cobalt near Gympie in Queensland.

The rock chip samples taken from within the target area assayed up to 1.66% cobalt. For comparison, typical economic grades reported for cobalt deposits range from 0.1% to 0.15%.

A field reconnaissance was undertaken last month near the historic Smith workings and beyond the southern extent of previous drilling at Mt Cobalt.

The mapping of the north‐south trending mineralised shear zone along strike from the historic Smith workings has generated a new overall target of about 800 metres in total length.

The potential is significant as historical records for the Smith mine (200 metres south of Mt Cobalt) reported mining a lode 7 metres in true width and depth of 25 metres containing 7.5% cobalt.

Global cobalt supply is forecast to be in deficit from 2016 owing to a combination of lower nickel and copper prices curtailing cobalt production as a by‐product.

Moreover, Cobalt is a key component of lithium‐ion batteries and consumption is set to grow at more than 7.5% per annum to 2020.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

View full ANW profile View Profile

Aus Tin Mining Timeline

Related Articles

1539089213_Brazil-flag-shutterstock_295534262.jpg
October 10 2018
The venture will evaluate potential acquisitions of deposits not limited to manganese but for vanadium and other strategic minerals
Ecuador flag
June 03 2019
Concurrent with the acquisition, Tempus has appointed key experts in epithermal gold exploration including non-executive director Gary Artmont and proposed chief operations officer in Latin America Rodrigo Izurieta.
A Western Australian map
March 15 2019
Its new CEO has brought new vigour to the company with cash for a buy-up.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use