The mine is said to have yielded three “parcels” of ore during 1921 grading 29.18% cobalt, 13.42% cobalt and 5.13% cobalt.
The average grade of the copper ore mined was said to be 12.81%.
No tonnage was reported by Longford.
The ASX-listed Longford said there was no evidence of any mining or modern exploration since 1928.
Longford also said copper-cobalt mineralisation in the district is “very” high grade and “widespread”.
The company will initially pay US$40,000 cash and issue $50,000 of shares, with lease payments rising from $20,000 per annum to $100,000pa as the venture advances.
Additional one-off cash payments and a ro...