It's a very rare mineral. If found - it comes in very small percentages per tonne.
Take Fortune minerals as example - https://s1.q4cdn.com/337451660/files/doc_downloads/140416%20-%20NICO%20Reserves%20Table.pdf OPEN PIT GRADE = 0.11 %
UNDERGROUND = 0.10 %
Let's use one of thier " lowest " figures.
0.07 % grade
0.07 %
Our Driftwood deposit has - 8 million tonnes -
And.. .outside of this " core magnesite deposit " there's dolomite deposits.
HYPOTHETICAL - what if ?
8,000,000 tonnes
x 0.07 % ( cobalt )
= 56,000 tonnes ( if.... cobalt was present @ 0.07% grade )
MOST CALCULATE COLBAT IN - POUNDS = 123, 200,000 lbs ( if.... cobalt was present @ 0.07% grade )
2022 - SPOT PRICES Cobalt is expected to trade at 52,999.30 USD/MT YUP.... i'd be sending out an expert - GEO - ASAP.
One who knows thier, Cobalt.
The Challenge of Analyzing Cobalt Using XRF
The XRF analytical technique is prone to interelement interferences. Iron (Fe) on cobalt (Co) and nickel (Ni) on Co are two common examples. This means that when a substantial amount of iron and nickel is present, it becomes difficult for XRF to identify cobalt at low levels. Unfortunately, these two elements are commonly associated with cobalt mineralization.
OTHER METHODS TO DETECT - COBALT - ( carry over from medical field )
ON THE SPOT - TESTS.
A cobalt spot test based on disodium-1-nitroso-2-naphthol-3,6-disulfonate wasable to identify cobalt release at 8.3 ppm. The test may also be used as a gel test if combined withan agar preparation.
LINK - https://www.academia.edu/25807267/A_spot_test_for_detection_of_cobalt_release_early_experience_and_findings