Vital Metals Limited (ASX:VML) has received 0.8% cobalt and 1.3% nickel results from rock samples taken from the historical Stolln 7 uranium exploration waste dump at the Aue Project in Germany.
The Aue Project is in an area with a rich history of cobalt production, spanning from the 16th century through to the late 1930s.
Five historical mines where cobalt was mined
Records show that there are five historical mines where cobalt was mined or known to occur within the Aue permit lying along a corridor that is over 10 kilometres long.
Vital commenced its initial exploration activities in April 2018, with a small geochemical program carried out aiming to positively identify cobalt mineralisation at two key targets.
During the visit, Vital encountered multiple mineral collector diggings in the otherwise overgrown mullock heap.
One of these digging from Stolln 7 contained a significant amount of material with pinkish secondary cobalt mineral coatings.
These samples returned cobalt concentrations ranging from 300 to 700 ppm with the best mineralised sample containing 1.3% nickel, 0.8% cobalt, 0.3% bismuth and 19 ppm silver.
Located in Europe’s technology and manufacturing hub
Aue is located right in the heart of Europe’s technology and manufacturing centre with actual and forecast demand for cobalt showing no sign of slowing.
Further field work will test locations with either known historical cobalt mining or are known to have mineralisation.
While it is still too early to know what the ultimate potential could be, the signs at this stage are very encouraging and give the company confidence to continue exploration activities.