Corazon Mining has identified new zones of cobalt at the Mt Gilmore cobalt-copper-gold project in New South Wales.
The Cobalt Ridge prospect hosts one of the highest-grade cobalt deposits in Australia.
Rich in resource, Corazone believes the project has the potential to supply a quality product suitable in lithium-ion batteries and the emerging rechargeable battery sector.
Past exploration has been restricted to a small area of drilling and surface geochemistry at Cobalt Ridge, targeting small-scale copper mines during the turn of the 20th century.
“Corazon completed its initial drilling at Cobalt Ridge late in 2016,” a Corazon spokesperson said.
“This current phase of surface geochemistry expands geochemical coverage in the immediate area of Cobalt Ridge, identifying new targets for follow-up drilling.”