Delecta’s sampling results confirm high-grade mineralisation

By Trevor Hoey. Published at Oct 9, 2018, in Small Caps

Delecta Ltd (ASX:DLC) has informed the market that recently acquired sampling results from the Highline Cobalt-Copper Project in Nevada have confirmed the high grade nature of the mineralisation.

The sampling produced cobalt results of up to 7.08% and copper results up to 12.4%.

A total of 19 samples were taken, 17 from the Highline Claim Group and 2 samples from mullock at Pocahontas.

These samples consisted of chip channel samples from accessible underground workings and dump samples from both the main workings and other prospecting pits.

Delecta managing director Malcolm Day said, “I am very pleased with the results released to us by the vendor.

“It reaffirms our commitment to the project and demonstrates the high grade nature of the mineralisation.

“Given the Highline mine’s previous mining and exploration was circa 100 years ago, the company believes that the cobalt-copper project represents a relatively low risk opportunity in an area of known mineralisation”.

Of course it is early stages in the development of the project, so investors should seek professional financial advice if considering this stock for their portfolio.

Pending acquisition marks diversification strategy

Delecta has entered into a binding option agreement to acquire a 100% interest in the high grade Highline Cobalt-Copper Project.

The Highline acquisition is part of Delecta’s diversification strategy aimed at capitalising on the demand for battery minerals such as cobalt, lithium and vanadium which has seen the rapid rise in the London Metals Exchange (LME) price of cobalt from US$23,000 per tonne in March 2016 to US$58,000 per tonne in October 2018.

Management intends to utilise the 90 day option period to complete a geological review of the project and surrounding area and conduct an initial exploration program to identify and map mineralisation both at surface and within existing accessible workings.

The following results highlight some of the high-grade mineralisation delineated.

At the Highline Mine the drive followed a vertical fault zone to a mineralized zone that was stoped and assumed to be the source of the reported production.

The initial two samples HHL001 and 2 are from the fault zone.

Samples HHL003 to 6 inclusive show the presence of increasing amounts of mineralization with sample HHL006, taken on the edge of the stope, returning 0.289% cobalt and 0.493% copper.

Samples HHL010, 11 and 15 to 19 are from mullock surrounding the adit.

They returned varying amounts of cobalt and copper ranging from 0.325 to 1.72% cobalt and 0.169 to 12.4% copper.

Other shallow adits and prospecting pits are present above the main adit testing bedding plane hosted mineralisation.

Some may be testing the up dip extension of the mineralisation that was exploited from the stope while others are possibly related to a parallel mineralized zone.

Samples HHL007, 8, 9 and 14 were taken from these workings, and they returned from 0.06% to 7.08% cobalt and from 0.914% to 2.86% copper.

There were also signs of lead and zinc mineralisation at an adit on the Pocahontas claim which lies on the blower contactable limestone unit, and this will be the target of further exploration should the acquisition be completed.

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!