M2 Cobalt’s (MC.V) exploration program in Uganda is in full swing as the airborne and ground survey on the Bombo target (part of one of the Bujagali exploration licenses) has been completed and the crews have moved onto the copper-cobalt-gold zone on another Bujagali exploration license.
A total of 3,000 samples have now been taken (1,348 at Exploration License 1666 and 1,747 samples at EL 1665), and these samples have now indicated the presence of a very large nickel-copper-cobalt anomaly as some of the samples that have been highlighted by the company returned cobalt values of 0.1-0.65% with some copper and nickel associated with these cobalt values as well. According to M2 Cobalt, this could indicate the presence of ultramafic sulphide mineralization.
More samples have now been taken at Bombo and M2 Cobalt will design a trenching and drill program based on the data it will gather from this ‘infill’ drill program.
At Kilembe, the exploration program was officially launched just a few weeks ago and several high-ranking government officials attended the ceremony and visited the site – which once again confirms the company’s excellent relationships in Uganda (which is an important part of doing business in Uganda). An airborne geophysical survey is currently underway where after the Bujagali licenses will be surveyed.