ASX listed Delecta Limited has further confirmed the high grade nature of mineralisation at the Highline project near Las Vegas in the US, with its due diligence sampling returning grades up to 1.46% cobalt and 31.2% copper.
Other notable results included up to 2.22 grams per tonne gold and 35.6 g/t silver. The mineralisation is hosted within bedding planes in dolomitized limestones.
The sampling was carried out as part of the company’s due diligence prior to executing its option to acquire the project for $750,000 in cash and scrip.
A total of seven samples were taken, six from the Highline Claim Group and one sample from the Pocahontas Claim.
Delecta said results from its sampling confirmed the results of previously reported work by the vendor, which included peak grades of 7.1% cobalt and 12.4% copper.
The company also completed a photo-geological interpretation of the project to better understand the geology of the Highline Claim Group in relation to the regional geological setting.
This will be added to by ground verification of the interpretation in conjunction with detailed underground and surface mapping.
The Highline and nearby Pocahontas patented claim areas which constitute the proposed acquisition by Delecta, are located in the mineral-rich Goodsprings district and surrounded by 4 historical cobalt mines that produced at high grades in their day.
These claims are adjacent to ASX-listed New World Cobalt and Tyranna Resources’ land holdings, with those companies also on the hunt for cobalt and other base metals mineralisation in the district.
Delecta Managing Director Malcolm Day said: “I am very pleased with the results from our sampling. It confirms the results from the vendor’s sampling and demonstrates the high grade nature of the mineralisation.”
“Given the Highline mine’s previous mining and exploration was circa 100 years ago, the company believes that the Highline cobalt-copper project represents a relatively low risk opportunity in an area of known mineralisation.”
Delecta has started detailed geological mapping and sampling has commenced on both the underground workings and prospecting pits at Highline to gain a better understanding of the orientation and extent of the mineralisation.
It will also carry out stream and soil sampling to target and test the extent of the mineralisation and determine whether any other geological boundaries/contacts or structural zones are potential hosts to mineralisation.
The company may then carry out geophysics to target extensions or blind mineralised zones.
Delecta will also complete geological mapping and soil sediment sampling at Pocahontas to define the extent and potential of the anomalous horizon at that prospect.
By Matt Birney
