M2 Cobalt (MC.V) has now dispatched a second drill rig to the Bombo exploration target on the Bujagali licenses, as the company wants to follow up on what appears to be an interesting nickel-cobalt-copper target. At Bombo, M2 has successfully outlined three separate large high-priority drill targets based on a geochemical sampling program as well as a geophysics program which included an airborne survey.
While the total size of the Bombo Central target is currently unknown, M2 Cobalt is really chasing for elephants on the two other zones (Bombo and Bombo Northwest), which have a surface area of respectively 115 hectares and 62 hectares. The sampling program indicated the widespread presence of anomalous nickel, cobalt and copper values hosted in an ultramafic horizon.
M2 Cobalt will immediately start a 1,000 meter drill program at Bombo we are looking forward to see M2’s exploration plan and the location of its drill holes. Once the drill program at Bombo will be completed, the drill rig will be directed to the Waragi and Nile targets where MC will target the sediment-hosted Katanga-style mineralization (which is more of a copper-cobalt target, without the nickel). Meanwhile, the drill program on the Kilembe license is ongoing, and the company expects to release drill results of the two high-priority conductors by the end of this year.
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The author has a long position in M2 Cobalt. M2 Cobalt is a sponsor of the website. Please read the disclaimer
