While the news flow of late from Prospech has been dominated by its recently acquired rare earths targets in Finland, the company has now returned to its original portfolio of projects in Slovakia.
The company last Friday began drilling at its Kolba project, the first time the deposit has been drilled.
Historical mining activities at Kolba has been traced back to the early 1800s, when mining yield copper-silver along with nickel and cobalt, with that primary operation ended in 1817.
Preliminary work reveals good grades
Prospech’s surface sampling at Kolba has produced assays of up to 4.99% copper, 6.91% nickel, 0.81% cobalt and 798 grams per tonne silver.
X-ray fluorescence (XRF) surveys indicate what the company describes as “exceptional concentrations” of high-grade massive sulphide minerals with readings of 2.25% cobalt, 13.89% nickel and 44.36% copper.
Prospech says historic government soil and rock geochemistry date indicates a target strike of 2km within the company’s licence area and 2.7km westward into ground that is now subject to a Prospech licence application.
Copper grades as high as 17%
Records show that in the 1850s the Kolba deposit was yielding copper at grades ranging from 2% to 17%
The Kolba cobalt-nickel prospect has a strike of more thas 300m, while the neighbouring Svatodusna copper-cobalt-silver prospect has a strike of 500m according to the evidence of historical workings, the company reports.
Although the Kolba-Svatodusna structure has not yet been drilled, it was mapped and sampled by the Slovak government’s geological service in the early 1990s. Recent academic studies also indicate primary mineralisation of copper-cobalt-nickel-silver sulphides.
‘Substantial’ potential size
Prospech’s initial drilling program will consist of eight diamond holes, with each hole planned to reach 200m.
Managing director Jason Beckton this initial program “will play a crucial role in enhancing our understanding of the mineralisation style, three-dimensional extent, and grade distribution within the site”.
“The substantial potential size of the mineralised system instils confidence and suggest the potential for a commercial opportunity for critical metals at Kolba,” he added.
Two of the planned holes will target areas mined historically, the remaining six to test the Svatodusna prospect.
Source: small caps