High grade CobaltThe ground controlled by Pacific arc, Faina Gold, has been referred to as a “geologists wonderland” an old cliche that gets bandied around a bit these days. However, the term fits very well in this case, crazy grades popping up in gold, silver and cobalt for a start. The cobalt is believed to be relate to an IOCG deposit in the Tinteiro region. Cobalt grades of over one percent have been reported from several rock chips taken and rocks in a beautiful cobalt blue easily spotted on the ground. So cobalt is around 32,000 USD per ton now, one percent is 320 USD per ton. I know this is not a true representation of what the IOCG deposit will average, but just to show why these sorts of deposits are so sort after let us breakdown the rock chip that returned 1.75 percent cobalt. Sample number 20768.
Sample number 20768, Copper, 5,990 ppm = $46 USD per ton.
Sample number 20768, Nickel, 5,040 ppm = $85 USD per ton.
Sample number 20768, Cobalt, 17500 ppm = $540 USD per ton.
Well, that is $671 USD per ton, other samples contained gold of 3.69 g/t. Have a look at the video, the head geologist at the time, 2018, talks about a rock they picked up in that same area as sample 20768 was taken
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The Cobalt, Silver and Gold trend, as indicated from sampling, covers over 5 km. Exploration has been extremely limited to date in the entire area. So much has yet to be uncovered, thankfully they now have a world class Geo leading the exploration. Anglo Gold has a reputation as being a world leader in exploration, Paulo brings with him all that knowledge and training he gained at Anglo, he did not become Anglo’s head of exploration by luck. Paulo is a very smart geologist and will be one of the driving forces behind the company.