Northern Cobalt (N27.ASX) Stanton hitting high grade - better than we had hoped for (+40%)

Wentworth Securities

Wentworth Securities

Assays out for the first 5 RC holes at Stanton (note on drilling program HERE) We had hoped they would at least replicate the old RIO/CRA holes, which they did and more. With the first 500m's of drilling released 164m were mineralised with Co above 0.05% and 120m's above 0.15%. This goes a long way to pointing toward and JORC upgrade. 

  • First 5 of 57 holes
  • Highlights include 37 metres at 0.28% cobalt (Co), 18 metres at 0.33% Co and individual metre grades of up to 2.13% Co
  • Majority of assays outside of current resource boundary.

Next assays should be out late next week. So in a hot Co market (N27 has turned over 14m.5 shares today and there are only 24m tradeable), this will be closely watched and traded I suspect. N27 extended the drilling on Stanton during the campaign, as they wanted to test an extension to the SE, and it looks like it may extend at depth in parts. (VIEW LINK)


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