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Northern Cobalt starts drilling 21 high-priority cobalt targets at NT project

The targets are analogous to the existing Stanton deposit at the Wollogorang project.
Drilling at the Wollogorang project
Around 250 holes are planned in the second phase of drilling

Northern Cobalt Ltd (ASX:N27) has started drilling 21 high-priority cobalt targets at the Wollogorang Cobalt Project in the Northern Territory (NT).

The targets were generated from a systematic, shallow drilling program of 973 aircore drill holes, testing for anomalous cobalt near surface over magnetic lows.

Of the 75 magnetic features tested, 21 have significant cobalt anomalism of greater than 100 ppm cobalt in the equivalent horizon to that exposed at the surface of the Stanton cobalt deposit.

This horizon has an average of 147 ppm cobalt directly over the resource.

READ: Northern Cobalt identifies multiple cobalt targets at Wollogorang project in NT

Around 250 drill holes are planned to test the targets, which are analogous to the Stanton deposit, to 20-40 metres for a total of about 7,500 metres.

Drilling will continue until the end of the dry season.

Managing director Michael Schwarz said: “We are entering an exciting phase of our 2018 exploration program.

“We have undertaken a rigorous and thorough approach to defining the best drill targets near the existing Stanton cobalt deposit.

“In the coming weeks and months, we hope to have this hard work pay off in the form of new Stanton-style cobalt discoveries from deeper drill testing of these targets.”

Northern Cobalt has undertaken shallow aircore drilling to test beneath the shallow cover and has identified multiple new targets, similar or larger in scale, to Stanton.

Focus on testing depth extent

This second phase of drilling will focus on testing the depth extent of cobalt anomalism identified at surface.

Hole depth will be controlled in part by the depth of the local water table.

The Wollogorang project is 180 kilometres southeast of Borroloola in the north-eastern corner of the NT.

Changing role for executive director

Northern Minerals’ fulltime executive director Duncan Chessell has decided to step down from this role and will transition to a non-executive director.

He is one of the founding directors of the company and joined the executive team shortly after listing to assist in the start-up phase of the business.

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