RE:ELBM extends cobalt and copper mineralizationIn reviewing the March 14, 2021 News Release of drilling results at 100% Electra owned Iron Creek Cobalt-Copper project,
I identify the following highlights for me: Key highlights:
- Drill results have been received for 3 of the 6 holes completed in the 2021 drilling campaign, where these 3 holes targeted the copper-rich western extensions of the deposit. These drillholes extended copper mineralization 130m along strike and the cobalt mineralization 110m down dip of the 2019 indicated resource boundary.
- The extension of mineralization at depth was expected though the high grade cobalt intercepts in this copper-rich area of the deposit are a nice surprise and lends support to the view that cobalt is not confined to the east.
- Awaiting drill results from the cobalt-rich eastern extension of the deposit.
- Iron Creek currently has an NI 43-101 compliant Mineral Resource Estimate outlining:
- Indicated Resource of 2.2 million tonnes at 0.32% cobalt equivalent (0.26% cobalt and 0.61% copper) for 12.3 million pounds of contained cobalt
- Inferred Resource of 2.7 million tonnes at 0.28% cobalt equivalent (0.22% cobalt and 0.68% copper) for an additional 12.7 million pounds of contained cobalt.
- There is encouraging potential to extend mineralization in all directions with ongoing drilling.
Peace,
Good Decision-making to All,
ElJ