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Cobalt Blue Holdings obtains exploration licence grant increasing tenure by 50% at Broken Hill

The new tenement will enhance the company’s existing exploration footprint covering about 93 square kilometres.

Cobalt Blue Holdings Ltd - Cobalt Blue Holdings Ltd obtains exploration licence grant increasing tenure by 50% at Broken Hill
Work programs advancing the Broken Hill Cobalt Project are continuing

Cobalt Blue Holdings Ltd (ASX:COB) has obtained notice of a proposed grant for exploration licence 5805 comprising eleven units within its exploration footprint in the Broken Hill region in New South Wales to increase by more than 50%.

The application area is dominated by stratigraphy of the Willyama Supergroup including the prospective Thackaringa Group successions known to host the Thackaringa Cobalt deposits within the Broken Hill Cobalt Project.

Cobalt Blue’s chief executive officer Joe Kaderavek said: “The southern Curnamona province is considered prospective for a number of cobalt-bearing mineralisation styles.

“While Broken Hill has a long-dated history, we believe cobalt exploration across the region is in its infancy and are excited by the potential for resource growth.”

ELA5805 Magnetic Hill

The exploration licence covers 32 square kilometres positioned along a series of northeast to southwest trending shear zones with basement geology dominated by stratigraphy of the Willyama Supergroup.

The company has accepted the proposed licence conditions and lodged all department fees and levies with the application now progressing through the final stages to be granted by mid-September.

The new tenement will substantially enhance the existing exploration footprint with the tenure covering about 93 square kilometres.

Initial mining activities are expected to refine targeting through historical data compilation, geological mapping, geochemical sampling and applied geophysics.

ELA5805 Magnetic Hill is about 15 kilometres east of EL6622

Quick facts: Cobalt Blue Holdings Ltd

Price: 0.14 AUD

Market: ASX
Market Cap: $20.99 m

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