Excellent cobalt anomalism seen at Classic Minerals’ Fraser Range Project
Classic Minerals (ASX:CLZ) today updated the market on its Fraser Range nickel-cobalt project in WA.
While CLZ is primarily concentrating its attention on gold exploration at its flagship Forrestania Gold Project, it has also completed a review of its Fraser Range dataset. The review identified ‘excellent cobalt anomalism’ at the project’s Rubys Reward prospect, including up to 1399ppm cobalt.
The company noted that interest in cobalt exploration in the Fraser Range is heating up ahead of the proposed IPO of famed-investor Mark Creasy’s Galileo Mining Ltd.
Classic is planning additional sampling as well as shallow aircore drilling in the near future to test the cobalt mineralisation at Rubys Reward.
Overall this is an early stage play and as such any investment decision should be made with caution and professional financial advice should be sought.
Dean Goodwin said: “Classic’s Fraser Range project is an exciting asset with proven Ni-Cu mineralisation discovered by the Company at Mammoth and Alpha and apparent prospectivity for Cobalt and other minerals.
“After reviewing the company’s data and historical reports, it became apparent that the Rubys Reward prospect has cobalt potential worth following up. After plotting rock chip and soil sampling data, we could see a clear trend of anomalous cobalt mineralisation trending S/SW within our Tenement.
“We are planning a field trip in the near term to collect further samples and to carry out some geological mapping of the prospect, with an air core drill program planned as soon as necessary approvals are received from the Govt.
“Our focus is on FGP but Fraser Range remains an important asset in the stable and we look forward to releasing the results of the sampling and Air Core drill results in due course.”
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
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.
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.