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Tuesday, Feb 18, 2025
Mugglehead Investment Magazine
Alternative investment news based in Vancouver, B.C.

Copper

Jervois Global Limited expands resource at Idaho Cobalt Operations

The program is funded and monitored by the United States Department of Defense under the Defense Production Act

Jervois Global Limited expands resource at Idaho Cobalt Operations
Idaho Cobalt Operations. Image via Jervois Global Limited.

Jervois Global Limited‘s (ASX: JRV) (TSXV: JRV) (OTC: JRVMF) first four drill holes at its Idaho Cobalt Operations (ICO) RAM deposit have shown resource extension both along strike and at depth.

The program is funded and monitored by the United States Department of Defense (DoD) under the Defense Production Act, which made it completely refundable. The company indicated on Wednesday that these results complement those gained at its Sunshine deposit, which operates under the same agreement.

Furthermore, RAM drill results to date include:

  • Hole JU24-093: 1.10 per cent cobalt (Co), 1.18 per cent copper (Cu), 0.69 grams per tonne (g/t) gold (Au) over a calculated true width (CTW) of 1.8 metres AND hangingwall (HW) mineralisation of 0.48 per cent Co, 1.74 per cent Cu, 1.13 g/t Au over a CTW of 3.8m;
  • Hole JU24-095: 0.18 per cent Co, 0.34 per cent Cu, 0.10 g/t Au, over a CTW of 4.8m AND HW mineralisation of 0.38 per cent Co, 0.22 per cent Cu, 0.27 g/t Au over a CTW of 2.7m AND footwall (FW) mineralisation of 0.43 per cent Co, 0.99 per cent Cu, 0.62 g/t Au over a CTW of 1.5m;
  • Hole JU24-096: 0.48 per cent Co, 0.60 per cent Cu, 0.86 g/t Au over a CTW of 2.1m AND HW mineralisation of 1.40 per cent Co, 1.38 per cent Cu, 2.23 g/t Au over a CTW of 5.2m, including 3.3m CTW at 2.26 per cent Co, 2.06 per cent Cu, 3.60 g/t Au;

Read more: U.S. Gold Corp acquires environmental quality permit in Wyoming

Read more: U.S. Gold to present at New York’s Current Trends in Mining Finance Conference

Jervois completed 2,500 meters of resource expansion

Jervois has also temporarily paused its underground drilling programme under the U.S. DoD Dgreement Funding at ICO while working with its primary regulator, the U.S. Forest Service, to recommence underground activities. The company is also conducting extensional drilling from a single underground drilling platform positioned within existing underground mine workings at ICO.

Drillhole JU24-097 provides especially positive indication of the potential for extension of the RAM deposit, with its significant mineralisation and width representing the deepest intersection of the massive magnetic horizon to date at ICO. Furthermore, the development of significant HW intercepts across 2024 extensional drilling provides further strategic opportunity for cobalt resource growth.

Jervois has successfully completed 2,500 meters of targeted resource expansion drilling across its 100 per cent owned RAM and Sunshine deposits under the DoD Agreement Funding. The company has also developed more than 350 meters of underground mine workings to support extensional drilling funded by the DoD Agreement.

During the ongoing programme, underground drilling of the RAM deposit has revealed appreciable grades, widths, and mineralisation continuity. The company’s deepest intercept to date indicates strong potential for further resource extension at depth, which Jervois plans to test with future drilling.

Recent drilling results have demonstrated down-dip grade continuity along an interpreted orientation, encouraging Jervois to continue exploration within its contiguous claim boundaries. Consequently, this updated interpretation of the MMH in the southern extents of the RAM provides additional pathways for resource growth, which were previously believed to be limited to deep exploratory drilling.

Read more: U.S. Gold to present at New York’s Current Trends in Mining Finance Conference

Read more: U.S. Gold secures US$4.9 million to advance Wyoming copper-gold asset

Idaho home to polymetallic bounty

Idaho’s rugged terrain and extensive mountain ranges are home to significant deposits of gold, silver, copper, cobalt, and other critical minerals.

Also, the state’s history of successful mining projects and the presence of well-established infrastructure, such as transportation networks and processing facilities, make Idaho an ideal location for both exploration and production activities.

As a result, several notable companies are involved in mining in Idaho, each with significant properties.

US Gold Corp. (NASDAQ: USAU) is actively developing its Challis Property, focusing on gold exploration.

Additionally, Hecla Mining Company (NYSE: HL) operates the Lucky Friday Mine, one of the deepest silver mines in the United States, known for its high-grade silver deposits.

Furthermore, Perpetua Resources (Nasdaq: PPTA) (TSX: PPTA) is advancing the Stibnite Gold Project, aiming to responsibly develop one of the largest gold and antimony resources in the country. These companies highlight Idaho’s rich mineral potential and its strategic importance in the mining industry.

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U.S. Gold Corp. is a sponsor of Mugglehead news coverage

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