Jervois Global (ASX:JRV) has completed a US Department of Defence (DoD) refundable surface drilling program at the Sunshine deposit, as part of the Idaho Cobalt Operations (ICO) in Idaho, US.
The $78.37 million market capitalisation company says drilling is refundable by the US DoD Defense Production Act Title III US$15 million grant award.
Comprising 7 drillholes, Jervois says results returned cobalt grades up to 1.55%, copper grades up to 1.1%, and gold grades up to 13.68 grams per tonne.
Jervois says results from Sunshine will be used to validate historic drilling within the deposit and incorporated into an updated Sunshine Mineral Resource Estimate (MRE).
Meanwhile, the company notes it is continuing underground development to support extensional drilling of the RAM deposit, activities which are also refundable by the DoD.
Prior to these exploration programs ICO’s mineral resource and reserve is already the largest and highest grade confirmed cobalt ore body in the US.
Cobalt has been declared by the US government a critical mineral, and a reserve or price floor to sustain domestic American production has been put forward by the US Congressional Select Committee on the Chinese Communist Party.
Jervois Global is a global supplier of nickel and cobalt serving both the battery and chemicals markets.
Write to Adam Drought at Mining.com.au
Images: Jervois Global
