A licence for cobalt

IOM3
,
12 Apr 2018

A fourth exploration licence – the 460 square kilometres N’Golia East – has been granted to Cobalt Blue Holdings (CBH) – 25% owned by Blenheim Natural Resources Plc – by the Ministry of Mines, Cameroon, following the satisfaction of all due diligence requirements.

The licence is located in a highly prospective region for cobalt. It is contiguous to the Nkamouna and Mada deposits in the Haut-Nyong divisions, where studies have previously indicated a total 59.8Mt, grading an average of 0.24% cobalt, 0.68% nickel and 1.37% manganese. CBH has an application for a further exploration licence in the region that, together with the four granted licences, cover an area of 2,837 square km.

Blenheim Executive Chairman, Charlie Wood, said, ‘A key component of Blenheim’s strategy is to build an investment portfolio centred around technology metals, and the development of the Cobalt Blue Holdings cobalt exploration portfolio is representative of this. There are strong market fundamentals and high demand for cobalt, and the Board believes that CBH is in an excellent position to take advantage of this positive climate.

‘We look forward to updating shareholders further regarding developments within the cobalt portfolio as well as news from our other investments, including the Company’s highly prospective lithium licences where drilling is due to commence shortly, and its investment in leading global cyber-security company BrandShield.’