Bluebird Battery Metals BATT Ashburton

Bluebird Battery Metals (BATT.V) has been working on its Ashburton cobalt project in Western Australia and has now released the assay results of a few rock chip samples (the assay results of 10 samples has been provided, but Bluebird hasn’t mentioned how many samples were actually taken during this Phase One exploration program). The headline obviously mentions the 0.42% cobalt grade in one of the samples, and 3 of the 10 samples had an average grade of over 0.1% cobalt.

The average grade of all 10 rock chip samples is 0.1% with a median of 0.055%. If we would remove the highest and lowest cobalt grade from the equation, the average grade of the remaining 8 samples would be 0.075%. Bluebird is correct when it highlights the manganese mineralization it encountered at Ashburton as the cobalt and manganese occurrences seem to be correlated. Three of the ten samples returned in excess of 20% Manganese and it could be something Bluebird should follow up on.

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The author has a small long position in Bluebird Battery Metals. Bluebird is a sponsor of the website. Please read the disclaimer

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