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Quarterly Activities and Cash Flow Reports June 2017
Quarterly Activities and Cash Flow Reports June 2017
Sydney, July 31, 2017 AEST (ABN Newswire) - Cobalt Blue Holdings Limited (ASX:COB) provides the Company's Quarterly Activities and Cash Flow Reports for the period ending 30 June, 2017.

June 2017 - Highlights

- Thackaringa Project

o FY17 (8,000m) Drilling Campaign Concluded - a globally significant cobalt program - continues into FY18.

o Thackaringa Resource Upgrade - 54.9Mt at 910ppm cobalt, new estimate reflects a 66% increase in overall tonnes and a 9% increase in cobalt grade.

o Scoping Study Delivered - Results supportive of Cobalt Blue's aspirational target of becoming "a long-life top 10 cobalt miner". Outstanding metallurgical results.

o 40 Mt Indicated Resource target and major geophysical survey announced - exciting option to uncover further cobalt anomalies.

o Cobalt sulphate commands a market premium driven by the evolving battery market.

- Corporate

o Appointment of new Board member (Matthew Hill) adding significant financial/mining development skills

o CGT Cost Base Observations - Cobalt Blue demerger from Broken Hill Prospecting (BPL)

o Joint Venture Agreement with BPL amended for 40Mt Indicated Resource target and geophysical survey.

To view the full report, please visit:
http://abnnewswire.net/lnk/R2R2X7DK

About Cobalt Blue Holdings Limited

Cobalt Blue Holdings LtdCobalt Blue Holdings Ltd (ASX:COB) is an exploration and project development company focussed on green energy technology and strategic development to upgrade its mineral resource at the Thackaringa Cobalt Project in New South Wales from Inferred to Indicated status. This strategic metal is in strong demand for new generation batteries, particularly lithium-ion batteries now being widely used in clean energy systems.

COB is in a Joint Venture (70% interest) with Broken Hill Prospecting Limited (ASX:BPL) (30% interest) to develop the Thackaringa Cobalt Project.

Potential to extend the Mineral Resource at Pyrite Hill, Big Hill, Railway and the other prospects is high. Numerous other prospects within COB’s tenement package are at an early stage and under-explored.

   


Contact

Joe Kaderavek
Chief Executive Officer
Cobalt Blue Holdings Limited
Ph: +61-2-9966-5629
Website: www.cobaltblueholdings.com
Email: info@cobaltblueholdings.com



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