Pinheiro Cobaltum Announces the Start of a New Exploration Project

Top Quote The firm’s exploration team currently conducts borehole geophysical surveys at one of its local cobalt mines. End Quote
  • (1888PressRelease) March 17, 2020 - Pinheiro Cobaltum (ISIN: BREBTPACNER4), an innovative and asset diversified cobalt extraction company focused on delivering growth, cash generation and stakeholder rewards, implementing a unique investment and development strategy, announced the beginning of several borehole geophysical surveys at one of its local cobalt mines in a bid to maximize the resources that are abundantly present in the area. Using borehole geophysics will help to detect a geophysical presence of cobalt mineralization intersected in recent drill holes that the firm can use to initiate future lucrative programs.

    Pinheiro Cobaltum is actively pursuing to consolidate its position as a key player in South America’s mining sector, so the company regularly conducts propriety surveys to ensure the maximum efficiency in mineral exploration for future extraction. The newly initiated borehole geophysical surveys are structured as follows:

    • Complex surveying will be applied on the site to detect vein extensions as well as previously unknown veins adjacent that could be targets for future drilling
    • Holes to be surveyed include those at the northern vein extension of the main mine where Pinheiro Cobaltum intersected 0.53% Co and 20 g/t Ag over 0.34m in an area previously believed to be empty
    • Surveying and data reading should be completed in 5 weeks and results incorporated into the drilling plan

    Mr. Marcos Silva, Chief Executive Officer, commented: “This methodology is a very important part of our exploration program to expand our understanding of vein distribution and orientation beyond what is intersected in drill holes. In our sectors this is newly introduced technology as it is widely-used as a technique to find blind metallic vein systems. This is an efficient method of generating important results that can assist with the summer drilling campaign.”

    Pinheiro Cobaltum will apply the use of the electromagnetic (EM) method to survey all recently completed drill holes. Electromagnetic study of the area is a measure of conductivity that may be directly related to the quantity of metallic minerals potentially connected within a rock. The system intercepts conductivity in rocks intersected by the drill hole and away from the hole to a distance of approximately 100 meters.

    The highly-probable new resources manifested as an extension of veins, as well as other observed veins with metallic minerals that could be considered for future drilling, have been identified by the company through these off-hole conductivity differences. In total, 20 drill holes have been selected for surveying and others may be added if positive results are reported.

    About Pinheiro Cobaltum (ISIN: BREBTPACNER4)
    Pinheiro Cobaltum is an innovative and asset diversified cobalt extraction company focused on delivering growth, cash generation and stakeholder rewards. The firm’s profitability depends on its proven ability to develop and operate its existing and future properties on a competitive, cost effective basis. Pinheiro Cobaltum recognizes the importance of a safe and healthy work environment and is actively developing and implementing procedures, practices, training, and audit protocols across its operations to ensure the highest standards for its activities.

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