FAR EAST CAPITAL NEWSLETTER MENTION
Read the full newsletter pdf here: http://www.fareastcapital.com.au/imagesDB/newsletter/WeeklyComm4Nov2017.pdf
Here is what they had to say about Northern Cobalt:
Northern Cobalt (N27) - a better grade than most
Northern Cobalt is another new cobalt company that came onto the bourse via an IPO in September, rather than by the back door. It raised $4.2m to advance projects in NE Northern Territory, in the Gulf country.
What distinguishes it from many other cobalt hopefuls is the high grade, stated to be 0.17% Co. It is not an example of a porphyry or a laterite nickel deposit that carries cobalt credits. Rather, the cobalt is the main metal. The geology is unusual, with Co-Ni-Cu mineralisation focused in and above the main breccia zone. Mineralising fluids seem to have been introduced along fault zones, migrating laterally. Better grades are found closer to the fault zones. For some reason the copper values are lower than what geologist might have expected.
Northern Cobalt has just finished drilling 57 RC holes at Stanton, to a depth of 100m. It only intended to drill 44 holes, but kept going when it found the mineralisation was continuing along strike. So far only 100m of the 1,000m anomaly has been drill tested. It now plans to drill 25 holes at Running Creek, a nearby anomaly. It will probably recalculate the resource upon receipt of all assays.
The Company is confident that it will get to 1 Mt at a better grade, and maybe it will eventually get to more than 5 Mt at 0.17%-0.2% Co. Time will tell.
So, it looks like an interesting, expanding story. The grade is good and there is already a JORC resource. There will be good news flow over the next couple of months with drilling results coming in, and the cobalt stocks are running. What’s not to like about this one?