Meteoric kicks off cobalt exploration program in Canada
Canadian-focused cobalt and metals explorer Meteoric Resources (ASX: MEI) has this morning announced the commencement of its geophysical program targeting the Mulligan primary cobalt project in Ontario (50km north of the mining camp named Cobalt).
The Mulligan project has previously produced eight tonnes of ore grading 10% cobalt, and is the first target of the company’s cobalt focussed exploration campaign.
MEI will undertake a high-resolution gradient IP survey on a 25m spacing alongside a ground magnetic survey by Canadian Exploration Services Ltd (CXS). These results, along with the magnetometer survey findings, will generate drill ready targets for the company’s upcoming diamond drilling campaign pegged for Q3 2018.
The Induced Polarisation (IP) survey, which will be closely spaced, along with the magnetics and resistivity surveys targeting the structure at Mulligan which is thought to host known cobalt mineralisation, will all kick off on 1 May 2018.
MEI’s Cobalt Manager Tony Cormack has been on site for the past week, overseeing the final preparations in the lead up to the program commencing formally, as well as evaluating additional opportunities in the area. Mr Cormack is expected to remain in-country to supervise the exploration activities undertaken by geologists from Orix Geoscience (MEI’s in-country partner).
It should be noted that MEI is an early stage play and anything can happen, so seek professional financial advice if considering this stock for your portfolio.
MEI Managing Director Dr Andrew Tunks commented on the update: “The sun is finally shining in Canada and Meteoric will be hitting the ground running over the next few weeks. Tony Cormack has been in Canada for the last week meeting officials from the various government departments to ensure all permissions are in place and working on target generation with the Orix team.
“It is exciting that we can finally commence field work on our Cobalt portfolio, after all it is only during the field work and drilling cycle we can make a discovery.”
Tony Cormack is currently in Cobalt, Canada, overseeing exploration activities.
MEI’s approved drill pad locations at the Mulligan Project.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Maven Capital Pty Ltd (AFSL No. 418504). 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.
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.