Outcropping secondary cobalt mineralisation at the Walker Prospect.

Location of New World Cobalt’s Grapevine Project, Arizona, USA.

Geology of New World Cobalt’s Grapevine Project, Arizona, USA.

New World Cobalt Limited holds a 100% interest in a highly prospective cobalt-nickel-copper project in central Arizona, USA.

The high-grade Grapevine Cobalt-Nickel-Copper Project, located ~25km east of Prescott, contains extensive historical cobalt workings.

The Company was attracted to the project when it identified (in a 1941 report) that samples of mineralisation from the area had assayed up to 7.5% Co. Further investigation revealed that at least five of the numerous historical workings in the area contain cobalt mineralisation, which extends over a strike length of more than 1.5km.

The geological sequence hosting the mineralisation is a gabbro – the same rock-type that hosts some of the world’s largest Ni-Cu-Co deposits, including Voisey’s Bay and Sudbury in Canada, and Norilsk in Russia.

With no evidence of any modern exploration having been undertaken at the project previously, the Company has secured a 100% interest in the mineral rights covering approximately 3,800 acres; using available geochemistry data and targeting the prospective gabbro sequence.

The Company intends undertaking low-cost, systematic geochemistry and geophysical programs over the coming months to rapidly advance its understanding of the mineralised system, with a view to bringing targets to drill-ready stage.