TAR has the goods! I see quite a few sceptics on here who don't want to believe results. Lets see who's laughing when the twin drill results from the historical drill holes with 2% to 3% Cobalt over 26m to 46m widths are released in coming weeks!
Laboratory results confirm the high grade channel and grab sample results reported from artisanal workings
- High grade samples from the laboratory reported consistently higher cobalt grades up to 16%
- Due diligence drilling is expected to commence in early April 2018
- A site visit has been undertaken to assess the potential for an early small
scale mining operation at Mwilu.
Recent channel sample results collected from the artisanal workings and trenches are shown in Tables 1 and 2 and included:
- 0.7m at 16.2% Co (northern exposure)
- 1m at 3.89% Co (southern exposure)
- 2m at 4.81% Co (southern exposure)
EUC ran up to a $250 Million MC last year with less than this to go on from historical mining!
Those widths and grades close to surface are seriously impressive and set the Company up nicely to pursue early production of close to surface, high grade Artisanal Cobalt which could be a good money spinner to fund drilling campaigns in the near term and reduce the need for CR and dilution.
"The Company, accompanied by Mr Rhett Brans,
recently conducted a site visit to evaluate the potential for an early small scale mining operation at Mwilu where artisanal miners are recovering high grade cobalt from surface."
"
Mwilu and Kamilombe are currently being mined at shallow levels by artisanal miners to generate income to fund ongoing development projects by the Project owners, Mint-Master and the Government of Lualaba Province."
"
Additional shallow holes will be drilled to confirm the grade and metallurgy of near surface mineralisation for potential small scale early production."
Drilling to kick off in a matter days, so most likely early next week IMO....
"The Company has contracted Equity Drilling Limited to conduct short due diligence drilling programmes at Mwilu and Kamilombe.
Drilling is expected to commence in early April once the drill rig has been released by customs in Lubumbashi, DRC. Four drill holes will twin selected holes drilled by previous owners, KCC and Gecamines at Kamilombe to confirm grade, widths and stratigraphy announced 1 March 2018.
Significant intercepts at Kamilombe included:
o 26.5m@2% Co and 1%Cu from 78.1m
& 32.2m @ 3% Co and 0.5% Cu from 209.6m
o 33.6m @ 2% Co from 77.93m
o 46.8m @ 2% Co from 7m
The share price will explode if those previous historical results are reaffirmed from this drilling campaign starting most likely next week! Management will let us know pretty quickly of grades as they have indicated they will continue using the Niton to gauge Cobalt grades in the field.
"
All samples collected from future drilling and soil sampling programmes will first be analysed using the Niton which is expected to speed up exploration activities."
"Representative
samples will be analysed by the Company in Lubumbashi for quick turnaround given the reliability of previously reported Niton results."
"At Mwilu, two drill fences shown in Figure 1 are planned to confirm grade, widths of mineralisation and the proposed geological model of two parallel synclines as shown in section in Figure 2.
A total of 910m of drilling has been planned at the Kamilombe project and 4,000m at Mwilu."
Expect plenty of news flow in coming weeks, drilling commencing, further DD news updates, drill Niton results from each hole drilled, possible Artisanal mining commencement etc.....
Due Diligence – Madini Licences and PR12423
"The ongoing due diligence on the Madini licences and PR12423 is progressing well
with a decision to continue expected within coming weeks."
Profit takers won the day, but i expect buyers to start soaking any available stock in coming days and retest that resistance level at .35c before a push towards .40c on expectation of further news flow in coming weeks!
(20min delay)