VIC - Cobalt/Scandium NSW. Cobalt WA + Tin in Bolivia.
SP = .018c
Shares = 1.226 Billion + 605 Million options (.02c strike 12/2020)
Cash = $2.1 Million
MC = $22 Million undiluted.
Acquiring four highly - prospective primarily cobalt project areas in NSW and WA by acquiring 100% of Cobalt Prospecting Pty Ltd , which is timely given growing global demand for new cobalt supply chains from stable jurisdictions like Australia
The two NSW tenements, Husky and Malamute, are 150km west of Dubbo and very near tenure owned by Clean Teq (ASX: CLQ) and Australian Mines (ASX AUZ) which have demonstrable high - grade cobalt and scandium mineralisation
Specifically, with the Husky tenure contiguous to AUZ’s ground and within 5km of CLQ ’s project, there is considerable exploration upside for high - grade cobalt and scandium mineralisation across these assets
The two WA project ar eas (yet to be granted) , Peperill Hill and Galah Well, are circa 100km west of Leonora in an area with proven cobalt mineralisation
Notably, legacy assay results show 2,430ppm Co within the Galah Well tenure and 7,290ppm Co just outside of the Peperill Hill tenure.
Opportunistic acquisition into a sector in Australia which is on an upswing whilst providing geographic diversity from the tin exploration activities in Bolivia.
NSW ministerial consent for a change in effective control received for the NSW assets, Husky and Malamute
VIC will immediately complete the acquisition of four highly prospective cobalt and scandium assets in NSW and WA
High-level exploration strategy for the Husky and Malamute projects in NSW continues to be fast tracked, given growing global demand for cobalt and scandium
Detailed desktop reviews on the Husky and Malamute projects in NSW to be released in coming days
Results and core findings from field trips to the Husky and Malamute projects will follow soon afterwards – this will provide the geology team with ample input to commence formulating the inaugural drilling program.
There are similar geological traits exposed by historic drilling, geological mapping and geophysical signature . The key difference to CLQ, AUZ and PGM’s deposits is the intrusive body underlying the Malamute prospect is entirely within its boundaries. Notably, there is a single prospect containing an area of lateritic mineralisation that may equal or exceed the area of both CLQ and AUZ’s deposits .
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