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New Energy Metals Provides Cobalt Projects Update
Vancouver, British Columbia--(Newsfile Corp. - July 10, 2018) - New Energy Metals Corp. (TSX...
About this update from New Energy Metals Corp.
[{"type":"text","content":"New Energy Metals Provides Cobalt Projects UpdateVancouver, British Columbia--(Newsfile Corp. - July 10, 2018) - New Energy Metals Corp. (TSXV: ENRG) (OTC Pink: NEMCF) (\"New Energy Metals\" or the \"Company\") announces that it has completed the first phase of its initial field exploration program on its cobalt projects in Chile comprised of compilation of historical data, regional mapping and prospecting, and sampling to identify priority areas for detailed follow up.The Company has been aggressive with its acquisition strategy, successfully acquiring several prospective cobalt projects located within the past producing San Juan cobalt district. The projects were acquired based on geological characteristics, abundance of historic workings and evidence of mineralization, and they all occur on the same regional trend near past producing cobalt mines such as Cobaltera, Blanca, Despreciada, Rosa Amelia and Prosperidad. The results of the current field exploration program, which is expected to run through the summer months, will provide priority areas for the Company's initial focus as it works to delineate high grade cobalt resources on its projects. Cobaltera (San Juan) District Summary:Established mining district located ~700km north of Santiago, ChileExcellent infrastructure, nearby deep-water port, no social or permitting issuesDistrict hosts a number of historical producing mines that operated for several decades at the turn of the 20th century (ceasing at the end of WWII)Extensive evidence of past high-grade mining activity; from 1903-1944 the district produced ~300,000 tonnes of cobalt grading up to 4% cobalt (+ Cu)*Mineralization occurs in high-grade veins, with average cobalt grades reportedly up to 1.6% cobalt for primary mineralization, and up to 6.4% cobalt in the enriched secondary oxidized zones which extend approximately 50m below surface; vein thickness varies from 0.5m to 20m*Historical mining focused on oxidized near-surface zones, mining cobalt for use as a super alloy for military applicationsThe primary cobalt sulfide zone represents a compelling target zone, considering that similar copper rich veins in the district (i.e. Quebradita) were mined for copper to depths of 700m Very limited exploration has been conducted in more than 70 years, but the district is now active due to awareness of its cobalt potential...