Cobalt Power Group has started the first phase of a drilling programme at its Smith Cobalt property, Ontario, Canada.
Contractor G4 Drilling has started drilling following delivery of a rig and associated equipment. Construction of access roads and a drill pad are underway.
The approximately 1,800m (5,900ft) drill programme is intended to expand the company's knowledge of the geological setting of known veins that extend from the nearby Deer Horn Mine onto the Smith Cobalt property. In addition, the company is planning to extend the strike length of those veins from the historic Smith Cobalt underground workings toward the south-east.
The drilling campaign intends to confirm the values received from muck pile sampling in January and make initial determinations of grade and thickness of the veins bearing cobalt and silver.
Cobalt Power Group president and CEO Dr Andreas Rompel said: "We are very happy to see that our diamond drilling programme is moving ahead on schedule as promised.
"As the first company to launch its drill programme this year for the cobalt and silver-bearing veins after a long winter, we are looking forward to seeing the first drill core in our core shack."
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Furthermore, Cobalt Power has announced receipt of the final report on the OreVision time domain resistivity / induced polarisation survey, which was conducted earlier this year by Abitibi Geophysics. The company has used these results to hone drill targets.
The Smith Cobalt project is underlain by Archaean volcanics, which are unconformably overlain by Huronian sediments.
These formations have been intruded by the Proterozoic-age Nipissing diabase sill.
Both on a regional and local scale, faulting has been found by surface mapping and in drill cores. Polymetallic veining has also been reported, with pinkish-white carbonate veins in particular.
All the requisite geological components of accepted mineralisation models for cobalt-silver have been identified on the properties.