(via TheNewswire)
Highlights:
Jervois has commenced underground drifting to access targeted pad drill station locations for RAM extension drilling at Idaho Cobalt Operations (“ICO”)
Underground RAM drilling will commence in Q1 2024 once required mine development is complete, with drilling designed to expand RAM’s 2023 mineral resource estimate (“MRE”)
Drilling is complete at Sunshine, an historic resource adjacent to Jervois’ 100%-owned ICO deposit and the surface rig is demobilised for winter
Assay results from the 7-hole program at Sunshine are expected in Q1 2024 and are expected to be used to prepare Jervois’ inaugural MRE for Sunshine
Sunshine and RAM exploration programmes are fully refundable under
the United States (“U.S.”) Government’s Department of Defense Defense Production Act Title IIIUS$15.0 million funding agreement
Prior to these exploration programmes, ICO’s mineral resource and reserve is already the largest and highest grade confirmed cobalt orebody in the
U.S.
Cobalt is a critical mineral as declared by the
U.S. Government due to cobalt’s aerospace, defense and energy transition applications
estimate (“MRE”), which the commenced construction will enable.1The extensional drilling is expected to start in Q1 2024.
Jervois has also successfully completed initial surface drilling of the Sunshine historic resource, part of its 100%-owned Idaho Cobalt Operations (“ICO”) in
The Sunshine deposit is an historic resource located a short distance from the mill and concentrator facilities at ICO. Jervois safely drilled seven holes from surface topography, comprising 1,150 metres (3,700 feet) in total.
Logging of the Sunshine core obtained from drilling is underway, with assay results expected in Q1 2024. Modelling of the results, together with Jervois’ inaugural MRE for Sunshine, are expected in Q2 2024.
Based on the existing
The Agreement Funding is under the Manufacturing Capability Expansion and Investment Prioritization office of Industrial Base Policy using the
On behalf of
For further information, please contact:
Investors and analysts: Group Manager – External Affairs alicia.brown@jervoisglobal.com | Media: nathan.ryan@nwrcommunications.com.au Mob: +61 420 582 887 |
Forward-Looking Statements
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule”, “expected” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to drilling outcomes at Sunshine, underground exploration development in the RAM deposit, drilling in the RAM deposit, mineral resource estimates for Sunshine, reimbursement payments from the
1 See ASX announcent “Updated RAM resource offers opportunity to extend ICO mine life” dated
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Copyright (c) 2023 TheNewswire - All rights reserved., source