The firm will soon begin a new exploration program at a new location, as part of its five-year mining plan
SAO PAULO, BRAZIL, March 16, 2020 /EINPresswire.com/ — Pinheiro Cobaltum (ISIN: BREBTPACNER4), an innovative and asset diversified cobalt extracting company focused on delivering growth and stakeholder rewards, implementing a unique development and investment strategy, is pleased to announce a new $1.5 million exploration program for which the funding has already been approved and will start operations within the next short space of time. The program currently awaits the final approvals from the Regulatory Authorities and will include over 9,000 meters of surface drilling.
Pinheiro Cobaltum is continuously in search of new mining locations and new projects in order to deliver, on a constant basis, high-quality products and services, and to meet the high demand coming from the rechargeable batteries industry. The announced program is structured according to environment, geodesic and mining safety standards.
• New drilling and exploration works will take place to identify the presence of potential new cobalt veins at a new mining location
• Digital research will be made over a surface of 20,000 square meters which will provide the complete set of data for a 3D geological model of the mining area
• Detailed study and property-scale structural mapping of mineralized veins and host rocks
• Drilling campaign targeting the areas with the highest cobalt resource potential
• Surface sampling at known prospects and occurrences throughout the property for assay analyses will be made
• Detailed magnetic study of the total property surface
• 5,000 metres of drilling will target the north-west zone testing targets from the 3D geological model
• 4,000 metres of exploration drilling to identify new mineralized fault systems
Pedro Torres, Senior Vice President, Operations Services and Development commented: “The new operation will be a cornerstone project for Pinheiro Cobaltum’s objective to be the first to unlock the present-day cobalt potential of this mining district. The important discovery was made during the area survey and research conducted by our mining engineers and they are also tasked to realize the full extent of cobalt extraction on the property.”
Mr. Torres continued: “Like other cobalt projects developed during the last decade, we are convinced that modern geoscience and mining methods have the potential to unlock value across this zone. The project area is a key element to our strategy of delivering leveraged access to the cobalt market in order to meet growing global demand.”
About Pinheiro Cobaltum (ISIN: BREBTPACNER4)
Pinheiro Cobaltum is an innovative and asset diversified cobalt extraction company focused on delivering growth, cash generation and stakeholder rewards. The firm’s profitability depends on its proven ability to develop and operate its existing and future properties on a competitive, cost effective basis. Pinheiro Cobaltum realizes the importance of a safe and healthy work environment and is actively developing and implementing procedures, practices, training, and audit protocols across its operations to ensure the highest standards for its activities.
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Source: EIN Presswire