Cobalt setback at Red Mountain

RED Mountain Mining has been abandoned by investors after receiving cobalt disappointment at its Mukabe-Kasari cobalt-copper project in the Democratic Republic of Congo.

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While a surface sampling campaign outlined a new copper anomaly said to extend over a strike length of 12km, the RAB drilling targeting cobalt prospects was a failure.

“The RAB drilling carried out which focussed on potential cobalt mineralisation did not yield significant results,” Red Mountain said.

“While anomalous levels of cobalt were detected across a meaningful area within the project area, such levels are insufficient to sustain a commercial cobalt operation.”

The 130sq.km Mukabe-Kasari cobalt-copper project area is a greenfields exploration play situated about 250km northwest of Lubumbashi, and about 70 km north of the giant Tenke-Fungerume copper-cobalt mine.

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