A geophysical survey in the Northern Territory has revealed a major geophysical anomaly at one of Korab Resources’ drill sites.
The international mining and exploration company has reported “a large cobalt target” at its Batchelor site near Darwin, which has historically returned “significant grades of cobalt, copper and gold”.
Grades reported at the location included 0.495 per cent cobalt and 5.8 g/t gold in rock chips and up to 0.146 per cent cobalt, 1.69 per cent copper and 3.45 g/t gold in reverse circulation (RC) drilling.
In the past, the mine has returned significantly less – including 0.146 per cent cobalt, 1.69 per cent copper and 3.45 g/t gold.
“This is one of 14 targets to be drilled shortly, as part of a new RC drilling programme of up to 10,000 metres,” a Korab statement read.
“Korab previously reported in February historical results of zinc, copper and gold exploration at the Batchelor project.”
Drilling is expected to start this month.