Projects - Thackaringa Cobalt Project

The promising Thackaringa cobalt project lies 25 km southwest of the major Australian mining centre of Broken Hill, which hosts a world class silver/lead/zinc deposit.
The area has been drilled over the past 35 years by a number of companies, including Rio Tinto.
In the past three years Broken Hill Prospecting Limited (BHPL) has completed programmes of extensive geological mapping and sampling that identified sulphide gossan horizons in outcrop. These encouraging results were followed up by shallow rotary air blast (RAB) drilling to trace extensions of these horizons under thin soil cover.

The gossans are anomalous for a variety of base metals, including cobalt, copper, lead and zinc, as well as gold.

Little detailed exploration of this type has been carried out in the past in this area and the encouraging results indicate significant potential for additional cobalt resources and new areas of Broken Hill-style base metal mineralisation.

Further RAB and reverse circulation (RC) drilling is planned for 2010, leading to diamond drilling to test deeper targets.

An Information Memorandum has been prepared and BHPL is undertaking a private fund raising to complete the planned drilling and for the preparation of a prospectus for an IPO, leading to a stock exchange listing later this year.

BHPL is targeting 30M lbs of cobalt in near surface deposits and continues to evaluate a number of treatment options for the ore.