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Positive drilling results for LiCo

Published by
Global Mining Review,

Canadian-based exploration company, LiCo Energy Metals Inc. has provided an update on the current diamond drilling programme for its Teledyne and Glencore Bucke cobalt properties situated in Bucke and Lorrain townships, 6 km east-northeast of Cobalt, Ontario.

The company has recently completed drilling 27 diamond drill holes for a combined depth of approximately 3106 m on its two cobalt mineral exploration properties in Ontario.

The current drill programme is designed to confirm and extend the existing known mineralisation and to provide the company with sufficient drill hole information to create a geological model and a 43-101 complaint resource estimate.

On the Glencore Bucke property, the company has completed a total of 21 diamond drill holes totalling 1900 m, testing the Main and Northwest zones. Visual cobalt camp style mineralisation has been noted in every drill hole that the company has logged to date. The drill programme has been completed as planned, and the drill rig was demobilised earlier in the week.

Historical drilling completed on the Glencore Bucke property outlined two separate vein systems hosting significant cobalt and silver values. The Main Zone, currently is 152 m in length, and the Northwest Zone, measuring 70 m in length.

On the company’s adjoining Teledyne Property, a total of 1206 m has been completed in 6 diamond drill holes.

Drilling has intersected Cobalt camp style mineralisation in each drill hole that has been logged to date.

Diamond drilling is expected to continue testing targets identified by management throughout the month of November and early December.

“We are exceptionally pleased with the exploration programme to date”, said Tim Fernback, President & CEO of LiCo. “We look forward to the assay results that will be released over the next 30-45 days”.

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