Battery Mineral Resources (TSXV: BMR) announced that it has defined a cobalt mineral resource of over 1 million pounds for the McAra deposit in Ontario, Canada.
In a press release, the Vancouver-based miner said this is the first new cobalt-dominant mineral resource delineated in the Sudbury region in the past 50 years.
“The resource is hosted in the Cobalt Embayment. The Cobalt Embayment hosts over 70 cobalt-silver deposits that collectively produced 525 million ounces of silver and 50 million pounds of cobalt from high-grade five-element (Ag-Co-Ni-Bi-As) veins in the Cobalt, Gowganda and Elk Lake Mining Camps,” the media brief states.
In the document, Battery Mineral Resources explains that after acquiring the property in February 2017, its field team launched a multi-faceted exploration program that included geophysical surveys, geochemical sampling and a series of diamond drill programs that totalled 56 holes and 10,486 meters. This work allowed them to define a NI 43-101-compliant measured and indicated resource of 1,124,000lbs Co-Eq that includes 1,102,000 pounds of cobalt and 11,260 ounces of silver.
“The one-million-plus pound cobalt mineral resource outlined by BMR drilling is part of a regionally extensive and highly prospective land package of nearly 120,000 hectares, that may host additional high-grade deposits as our ongoing exploration program progresses,” the firm’s CEO, Martin Kostuik, said in the release. “This could become a part of a series of feed sources for a potential cobalt ore processing facility in the region.”