High Grade Minerals’ Exploration Target suggests globally significant cobalt potential
High Grade Metals Ltd (ASX:HGM) has delivered its initial Exploration Target for its flagship Nöckelberg Cobalt, Copper and Nickel Project in Austria.
The Exploration Target was supported by whole rock assay results, soil geochemical assessment and detailed geological modelling completed by HGM. It supports the company’s goal to explore for a globally significant cobalt deposit.
The Nöckelberg Prospect sits within the broader Leogang Exploration Area which is located approximately three kilometres west of Leogang and 11 kilometres west of Saalfelden in the District of Zell am See, Federal State of Salzburg.
The Leogang Exploration Area comprises 30 Freischürfe and covers a total area of approximately 12 square kilometres, including the historical Nöckelberg and Leogang mine sites. Historically, cobalt, nickel, copper and silver have been mined at Leogang.
The proposed exploration program will acquire additional geochemical and geophysical data followed by drilling to test the Exploration Target presented. The drilling is planned to be spaced approximately 150m apart and is scheduled to be undertaken in the 2018 Austrian summer and is expected to be completed in the quarter ending 30 September 2018.
As with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
HGM Managing Director and CEO Torey Marshall said: “The material Exploration Target for Nockelberg supports our view that the company's portfolio presents a significant opportunity to participate in the European battery metals market, and will be tested with a comprehensive drilling program in 2018”.