Sign up
Mining Capital

European Cobalt shares ride higher after revealing high-grade cobalt and nickel in Slovakia

A new local underground diamond drilling contractor has been engaged at the Dobsina Project.
A picture of the Slovak Ore Mountains
Dobsina is a town in the Slovak Ore Mountains

European Cobalt Ltd (ASX:EUC) has confirmed high-grade cobalt-nickel mineralisation from initial grab and rock chip sampling within the Joremeny adit at its Dobsina Project in central Slovakia.

Significant rock chip results include:
• 3.30% cobalt, 4.31% nickel;
• 2.22% cobalt, 2.53% nickel; and
• 1.38% cobalt, 3.16% nickel.

Having implemented this systematic sampling program, a significant milestone has been achieved by European Cobalt in terms of directly verifying the historical channel sampling results.

The company’s shares are trading about 4% higher intra-day, at 4.9 cents.

Non-executive chairman Tolga Kumova inspecting mineralisation within the Joremeny adit

Through the process of completing surveying of the Joremeny adit, an accurate representation of the location and geometry of the adit has been attained.

High-grade cobalt-nickel and copper-antimony-silver results were also returned outside of historically sampled zones.

Further systematic channel sampling is presently underway with results pending.

Expansion of underground drilling

European Cobalt has purchased a Kempe underground diamond drill rig in order to improve the efficiency and productivity of underground drilling.

It is expected that the drill rig will arrive and be commissioned on site within a month.

In addition, a new local underground diamond drilling contractor has been engaged to operate as a third diamond drill rig on site in order to remedy the relatively slow rate of drilling achieved by the former contractor.

Register here to be notified of future EUC Company articles
View full EUC profile View Profile
View All

Related Articles

Lithium cube
The resource exploration and development company looks to supply the rapidly growing lithium-ion battery industry for both mobile devices and laptops, as well as the burgeoning electronic-vehicle industry

© mining Capital 2018

Mining Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed mining companies to interact with institutional and highly capitalised investors.
Headquartered in London, Mining Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.