Next Investors logo grey

Significant cobalt discovery for Accelerate Resources

|

Published 11-JUL-2018 12:52 P.M.

|

2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

Accelerate Resources Limited (ASX:AX8) has announced the discovery of significant cobalt mineralisation in diamond drill hole TCDD001, at the Thomas Creek copper-cobalt-gold prospect.

This is the same prospect where earlier surface sampling by the company returned results including 3,300ppm cobalt, 1.52% copper from and 0.59 g/t gold from saprolitic bedrock, beneath peaty soil cover.

The encouraging results include:

- 3m at 0.23% cobalt from 150m

- 1m at 0.15% cobalt and 0.31% copper from 157m

The cobalt is associated with a zone of semi-massive pyrite veining.

The full results of TCDD001 are tabled below:

Next Investors Image

The drilling results as outlined above include 1m at 0.33% cobalt which is hosted by semi-massive pyrite veins within a zone of coarsely disseminated pyrite, associated with hydrothermal breccias.

The cobalt-pyrite mineralised veins include;

- 150.60m to 151.85m of 30% semi-massive pyrite with clots up to 8mm and trace chalcopyrite veinlets;

- 152.20m to 152.45mof 10% semi-massive pyrite and stringers and trace chalcopyrite veinlets;

- 156.90m to 157.40mof 15% semi-massive pyrite with clots up to 8mm

Next Investors Image

According to AX8, drill hole TCDD001 is “the first of three holes targeting a large chargeable IP anomaly located along the eastern margin of an ovoid aeromagnetic body, below a surface copper-cobalt anomaly”.

The chargeable anomaly has dimensions of approximately 400m at its widest and is up to 600 metres in length, with the depth to the top of the IP anomaly at approximately 100m below the surface.

The company also stated: “The inclined hole (-600 dip, 0900 azimuth) intersected a sequence of altered andesitic lavas and volcanic breccias, cross-cut by a number of late stage intrusives, including Potassium feldspar altered monzodiorites.”

Cobalt mineralization associated with sulphide veining at depth is a significant and highly encouraging discovery for AX8 at this stage, particularly considering it is a large and relatively untested target.

This news provides further confirmation of the potential of the Thomas Creek copper-cobalt prospect to host mineralisation.

However AX8 remains a speculative stock and if considering this stock for your portfolio you should take all public information into account and seek professional financial advice.



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.