European Cobalt digs deep into historic Slovakian mine for high grade hits
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Explorer European Cobalt has drilled thin bands of high grade cobalt-nickel in the centuries-old Joremeny underground mine in Slovakia.
European Cobalt (ASX:EUC) says drilling confirms that high grade cobalt-nickel extends both ways along the Joremeny adit, the entrance passageway to the underground mine.
Latest results from drilling included 0.3m at 5.19 per cent cobalt and 7.62 per cent nickel, with drilling slowly progressing west to east.
In general, cobalt grades of 0.3 per cent are currently considered very good with scale, while a high-grade nickel orebody would be plus-3 per cent per tonne.
The explorer’s share price was unmoved at 2.6c on the news.
European Cobalt managing director Rob Jewson says this drilling confirms that cobalt and nickel mineralisation runs both ways along the Joremeny adit.
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“From the mapping and channel sampling completed it appears that the mineralisation increases in thickness towards the eastern extent of Joremeny adit,” Mr Jewson says.
“Drilling is presently underway to test the mineralisation both up dip and down dip within the eastern extent of the Joremeny adit.”
European Cobalt’s main focus is the Dobsina project in central Slovakia (which includes Joremeny) where more than 430,000 tonnes of high-grade cobalt-nickel (up to 8 per cent cobalt and 28 per cent nickel) was mined in the early to late 19th century.