M2 Cobalt (MC.V) has started its exploration program in Uganda where it’s trying to prove up a copper-cobalt district on the land package it has been assembling for the past several years now. This year’s exploration program (the very first program since the properties were vended into M2 Cobalt) will consist of five different steps including drone surveys, large sampling programs (which will include the collection of heavy mineral concentrates) as well as ground geophysics. The Kilembe property will also be the subject of a high-resolution magnetic and electromagnetic survey which could result in a trenching and drill program later this year.
With approximately C$8M in the bank, M2 Cobalt is in an excellent position to aggressively explore its Uganda tenements where previous surface samples have detected cobalt values of up to 0.31% whilst the company’s Kilembe property is on trend with the past-producing Kilembe mine which was owned and operated by Falconbridge. We have recently released a full report on M2 Cobalt, which you can re-read here.