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International Cobalt kicks off 2,000m diamond drill programme at Ramsay

Spektra Drilling will carry out the work, which is designed to test for potential extensions of cobalt intercepts found by previous operators

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Pictured is a diamond drillbit

International Cobalt Corp (CNSX:CO) says it has started a 2,000-meter diamond drilling program at the Ramsay project in New Brunswick, Canada.

Spektra Drilling of Val d’Or, Quebec will carry out the work, which is designed to test for potential extensions of cobalt intercepts found by previous operators.

READ: International Cobalt advances Blackbird Creek project to drill-ready

These included intervals of 0.8m grading 0.956% cobalt within a 4.8m core interval grading 0.352% cobalt in 2004.

The company noted that such higher-grade zones typically occur within wider core intervals ranging to 24.8 m grading 0.180% cobalt and 0.182% copper.

The 8,000-hectare Ramsay project is well situated in the prolific Bathurst mining camp (BMC), around 25km west of the Caribou mine operated by Trevali Mining Corp.

It straddles highway 430, locally known as the 'road to resources'. 

With paved road access and nearby electric power, the project is close to well-developed infrastructure in a mining-friendly jurisdiction.

The IP survey, in progress, has been expanded to include a potential new zone, 2 km to the south where crews sampled angular float material that returned 581 ppm (parts per million) cobalt, 1300 ppm arsenic and 22.7 % iron.

Cobalt prices recently reached a 10 year high of US$42.75 per pound and have shown a steady increase since the mid-point of 2015.

Quick facts: International Cobalt Corp

Price: 0.01 CAD

CSE:CO
Market: CSE
Market Cap: $1.87 m
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