Meteoric Resources NL

Meteoric Resources commences drilling at cobalt site in Canada

Cobalt has gone from strength to strength, with the price more than doubling over the past year as the outlook for battery demand surges.

Australian company Meteoroic Resources (ASX:MEI) focuses on cobalt exploration in the mineral districts of Canada and has just announced it will commence drilling at its first project.

"We are in geologically what's called the Ontario cobalt district... so, it's had a lot of cobalt production in the past... this is a system of veins called the five element veins, they contain silver, cobalt, copper, nickel and gold" says Andrew Tunks the company's managing director.

The company has seven projects in the Ontario district and Mr Tunks says all of the sites have had production in the past.

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Market: ASX
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