Canadian metals exploration company LiCo Energy Metals Inc. has reported assay results for the first diamond drill hole completed on the Teledyne cobalt property, near Cobalt, Ontario.
On the Teledyne cobalt property, the company has completed a total of 11 diamond drill holes totalling 2200 m. The diamond drilling programme has been completed, and the drill rig will be demobilised this week. The drilling has extended the cobalt mineralisation on property, with the grades being consistent with the historical results.
Tim Fernback, President & CEO of LiCo, stated: "We are very happy with the drilling results from our Teledyne and Glencore Bucke drilling programmes. We set a goal to replicate the historic results of cobalt grade and width of mineralisation, which we have accomplished in spectacular fashion.”
On 29 November 2017, they announced an intersection of 7.64% cobalt at Glencore Bucke, and on 30 November 2017 presented assay results for 3.92% cobalt at Teledyne. Now that the remaining drill core is making its way to the assay lab, we are eagerly awaiting additional cobalt, copper and silver results that can help us define the next stage of our exploration programme on both properties for 2018.