eCobalt lifts flagship Idaho Cobalt resource 12.5%

VANCOUVER (miningweekly.com) – Canadian clean cobalt project developer eCobalt has reported a 12.5% increase in the compliant measured and indicated resources at its Idaho Cobalt Project (ICP), in Idaho, following further geotechnical work.

Compared with the previous resource model dated September 2017, total measured and indicated resources increased to 3.87-million tons, grading 0.59% cobalt, for 45.7-million pounds of cobalt, compared with 3.44-million tons, grading 0.59%, for 40.6-million pounds of cobalt.

Inferred resources rose 18% to 1.82-million tons, grading 0.46% cobalt, holding 16.7-million pounds of cobalt, from previous estimates of 1.54-million tons, grading 0.51% cobalt, holding 15.5-million pounds of cobalt.

"Work is ongoing to determine the economic significance of these results, which will be incorporated into a new feasibility study and mine plan. The updated resource model also provides additional insight into the controls of mineralisation. This information will help inform future drilling efforts to advance the Ram deposit, as well as planning of mine infrastructure," COO Floyd Varley stated.

The TSX-listed company advised that the update was based on results from a three-hole, 1 500 m drill programme completed in 2017, as well as a review and inclusion of past drill results not considered previously, and the creation of a new three-dimensional resource model using current state of practice software and geostatistical tools.

These results will be incorporated into a new, optimised feasibility study planned for completion in the second quarter. Until that study is finalised, there can be no assurance that any increase in resources will result in a material change to the reserves and economics of the ICP, the company cautioned.