Cobalt Blue’s Share Uplifted On ASX After Releasing Pyrite Hill Drilling Results

Cobalt Blue’s Share Uplifted On ASX After Releasing Pyrite Hill Drilling Results

Cobalt Blue Holdings Limited (ASX: COB) operates as a green energy technology company. The Company focuses on advancing the development of cobalt mining operations. The company has recently announced that they have received encouraging results which will further support an updated Mineral Resource estimate. Besides, COB is continuing to advance current work programs including further bulk test work, optimization of power studies, tailings studies, project mining, environmental and engineering studies.

The company has disclosed on ASX its Pyrite hill drilling update, a snippet briefing the key highlights is stated below:

Resource classification at Pyrite Hill. Significant intersections include:

At the 18THR024 hole – 70m was dug, where the extraction rate was at 1,150 parts per million of Cobalt, as well as 11.5% iron & 12.5% of Sulphur were extracted at a depth of 30 m.

At the 18THR025 hole – 92m was dug, where the extraction rate was at 1,253 parts per million of Cobalt, as well as 12.10% iron & 10.70% of Sulphur were extracted at a depth of 45 m.

At the 18THR026 hole – 90m was dug, where the extraction rate was at 1086 parts per million of Cobalt, as well as 10.30% iron & 10.70% of Sulphur were extracted at a depth of 52m.

At the 18THR028 hole – 60m was dug, where the extraction rate was at 1691 parts per million of Cobalt, as well as 17.20% iron & 17.80% of Sulphur were extracted at a depth of 57m.

At the 18THR029 hole – 62m was dug, where the extraction rate was at 1271 parts per million of Cobalt, as well as 13% iron & 12.7% of Sulphur were extracted at a depth of 42m.

Deep drilling intersections at Pyrite Hill confirm continuity of mineralisation at depth. Significant intersections include:

At the 18THR014 hole – 47m was dug, where the extraction rate was at 985 parts per million of Cobalt, as well as 12.80% iron & 11.60% of Sulphur were extracted at a depth of 283m.

At the 18THR027 hole – 36m was dug, where the extraction rate was at 1018 parts per million of Cobalt, as well as 10.90% iron & 9.70% of Sulphur were extracted at a depth of 266m.

Now let us quickly have a look at the company’s stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $0.175 and is trading up by 6.061% during the day’s trade, with a market capitalization of $20.56 million. The counter opened the day at $0.17, which was also the day’s high & touched an Intraday low of $0.16. The stock has yielded a Year Till Date returns of -21.43% and posted returns of -72.50%, -28.26% & -19.51% over the past six months, three months & one-month period respectively. It had a 52-week high price of $1.67 and touched 52 weeks low of $0.16, with an average volume of 170,581 approximately.


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