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Cougar Metals’ drone survey defines three new targets at Chilean cobalt project

Proactive Investors Friday, 18 January 2019
Cougar Metals NL (ASX:CGM) has used drone surveying technology to define three new target areas at the Plateado Cobalt Project in Chile. The survey involved placing geophysical profiles in an east-west direction over the same area mapped for its geology earlier last year and spaced 100-metres apart. Three lithologies identified and five target areas Results of the interpretation data highlighted three targets, with the most notable corresponding to a big structural complex north of the El Boldo artisanal mine on the property. The second target is located up dip and only 150 metres from artisanal workings. Further to production of the maps using Theta techniques, geophysical contractor Maping Ltda identified three clearly differentiated lithologies, a big structural complex and five target areas to focus follow-up exploration. Follow-on activities Reinterpretation of the data by an Australian contractor will provide further understanding of the project and enable the planning follow-on exploration. On February 7, 2018, the company announced a farm-in agreement over the Plateado project with Antasitua Chile SPA, where Cougar could earn 100% by meeting various exploration expenditures and payments. READ: Cougar Metal releases 10.54 million tonne nickel-cobalt-laterite resource In September last year the company added to its value during intraday trading after releasing a resource statement for its Pyke Hill Nickel-Cobalt-Laterite Project in WA. The resource included a high-grade cobalt resource of 5 million tonnes grading 0.94% nickel and 0.14% cobalt.
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