Join our daily newsletter At The Bell to receive exclusive market insights
- Alta Zinc (AZI) has discovered new high-grade cobalt-nickel and copper-silver veins at the Punta Corna Project in northern Italy
- The discovery was made during a recent mapping and sampling program at seven main veins
- Pleasingly, field work confirmed the mineralisation extends over at least 2500 metres of strike
- The recent work complements a 2018 sampling program which yielded 3.4 per cent cobalt, 2.5 per cent nickel, 6.1 per cent copper and over 900g/t silver
- Alta Zinc is waiting on further results from this work and will plan additional exploration
- Company shares are trading 10 per cent higher for 0.6 cents at market close
Alta Zinc (AZI) has discovered new high-grade cobalt-nickel and copper-silver veins at the Punta Corna Project in northern Italy.
The discovery was made during a recent field program which included mapping and sampling of seven main veins that contain cobalt, nickel, copper and silver mineralisation.
The mapping program confirmed mineralisation extends over at least 2500 metres of strike and elevations of between 2480 and 2820 metres above sea level. This suggests the total mineralised system has the potential to be expanded as it its open in all directions and vertically.
Exploration also discovered new, closely-spaced, mineralised sub-veins which may extend mineralisation beyond the main vein sets.
“Our work at Punta Corna confirms that the project hosts a number of parallel vertical veins containing high-grade samples of cobalt, nickel, copper and silver mineralisation and these veins show good structural continuity over long strike lengths and with the mineralisation having at least 340m of down dip extent,” Managing Director Geraint Harris said.
The Punta Corna Project was mined between 1756 and 1759 and was an important source of cobalt for natural vibrant blue pigment in European industry. Mining at the deposit ended due to the natural cobalt oxide pigments being replaced by synthetic substitutes.
The latest work also complements a sampling program conducted in 2018 which returned up to 3.4 per cent cobalt, 2.5 per cent nickel, 6.1 per cent copper and over 900g/t silver.
Alta Zinc is waiting on further results from the recent exploration work and will plan the next steps accordingly.
Company shares are trading 10 per cent higher for 0.6 cents at market close.
