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Outstanding IP results confirm new priority drill targets at Colson Cobalt‐Copper project

Outstanding IP results confirm new priority drill targets at Colson Cobalt‐Copper project

Strong IP anomalies coincide with 1.3km long trend of anomalous soil samples assaying up to 0.11% Co at the Long Tom Prospect

  • Exceptional results from Phase 2 of IP surveying delineate several strong IP anomalies located immediately west of the area targeted in the maiden 2018 drilling campaign
  • A new, very strong, 750m x 750m IP anomaly coincides with soil samples that returned assays up to 0.11% cobalt at the Long Tom Prospect
  • Several other strong IP anomalies confirm the Long Tom Prospect as the highest priority drill target
  • The very strong, undrilled “Salmon Canyon IP Anomaly” confirmed and refined during Phase 2 of IP surveying
  • Permits to undertake first ever drill testing of the very high‐priority Long Tom Prospect and Salmon Canyon IP Anomaly expected in Q1 2019 with drilling to commence immediately thereafter
  • The Long Tom and Salmon Canyon IP anomalies are both stronger than the IP response delineated over the Salmon Canyon Deposit that was targeted in drilling last year
  • The maiden 2018 drill program confirmed that significant cobalt‐copper mineralisation is closely associated with IP anomalism and stronger IP anomalies are likely to be associated with thicker and/or higher grade mineralisation; and
  • Commercial terms to complete the acquisition of 100% of the Salmon Canyon Deposit revised

Read the full announcement from New World Cobalt Limited here