KEY POINTS
- Cobalt Blue Holdings Limited (ASX:COB) is pleased to announce an updated Mineral Resource estimate for the Broken Hill Cobalt Project (BHCP). This update takes into account base metals, some of which have the potential to be converted into an Ore Reserve if sufficient economic grade and quantities exist.
- The global Mineral Resource estimate now comprises 118 Mt at 859 ppm cobalt-equivalent (CoEq) (687 ppm cobalt, 7.6% sulphur & 133 ppm nickel) for 81,100 t contained cobalt, (at a 275ppm CoEq cut-off). Measured and Indicated resources make up approximately 65% of the global Mineral Resource.
- Inputs derived from the 2018 PFS and 2020 Project Update have supported revision of the Mineral Resource cut-off grade with the inclusion of nickel as an additional revenue stream.