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Delecta acquires cobalt-copper mine

Mining News - Published on Mon, 11 Feb 2019

Image Source: Business News
With due diligence now complete, ASX junior Delecta has exercised the option to acquire the Highline cobalt and copper mine. This acquisition is a key component of DLC's strategy to diversify its operations and capitalise on the accelerating demand for battery minerals. DLC reported today that underground sampling of the Highline mine has confirmed the high-grade nature of the previously exploited mineralisation.

Results have indicated the presence of high-grade cobalt and copper mineralisation, including:
3.37% cobalt, 10.2% copper, 2.28 g/t gold and 20.1 g/t silver
0.93% cobalt and 1.96% copper
0.79% cobalt and 0.42% copper
Furthermore, stream sediment sampling results from the mine have included:

3.51% cobalt
36.70% copper and 58.8 g/t silver
25.50% copper and 49.7 g/t silver
As mentioned, with the due diligence process now complete, DLC has exercised its option to purchase, and has advised its next steps in exploration will include detailed geological mapping of identified mineralised zones to identify drill targets.

DLC managing director, Mr Malcolm Day, commented on the milestone news: “I am very pleased with the results of the exploration program and excited to complete the acquisition of the Highline Project. The results have confirmed the high-grade nature of the project and significantly increased its potential.

Mr Day said that “The company believes that the Highline Cobalt-Copper project represents a relatively low risk opportunity in an area of known mineralisation. The Highline acquisition is part of Delecta’s diversification strategy aimed at capitalising on the demand for battery minerals such as cobalt, lithium and vanadium.”

The Highline project in more detail
The Highline cobalt-copper project comprises five patented mining claims totalling 90.4 acres located within the Goodsprings mining district in southern Nevada (USA), 48km southwest of Las Vegas and approximately 3km southwest of the town of Goodsprings, Nevada.

DLC completed an exploration program at Highline only recently, which also involved underground mapping of the mine and stream sediment sampling of drainages.

A total of six rock-chip samples were taken from the workings, with the sample demonstrating similar results to those completed by the vendor and reported in a previous announcement.

Results returned up to 3.37% cobalt and up to 10.2% copper; sample HL1 also included highly anomalous gold and silver, returning 2.28 g/t and 20.1 g/t respectively.

During the stream sediment program, seven rock-chip samples were collected from old workings / prospect pits.

Source :

Posted By : Rabi Wangkhem on Mon, 11 Feb 2019
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