Victory Mines (ASX: VIC)
With its high-growth rates and even higher potential, battery demand is a critical focus for metal markets.
So, if 2016 was all about lithium, 2017 looks to be cobalt’s turn to make good as a key component of the lithium-ion battery movement.
As such, one micro-capped Australian explorer looks set to acquire a home grown zinc-lead-silver-cobalt project, situated close to infrastructure in the abundantly mineralised Kimberley region of Western Australia.
The company is set to acquire a high-grade polymetallic asset known as the Bonaparte Project, which whilst exploration is very early stage, is already dishing up high cobalt values of over 4% and high-grade zinc of up to 4.1% in rock chip samples.
The Bonaparte Project spans a large 550km2 tenement package area, where several high grade prospects have already been defined.
Importantly, the area itself remains otherwise largely underexplored for cobalt, which leaves the company looking at a lot of blue sky potential.
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On top of this a non-JORC compliant resource of 150,000t averaging 2.25% zinc has been estimated on the exploration licences with significant scope for JORC conversion and extensions to the current ore body.
Whilst currently valued by the market at $5.7 million with close to $2 million in the bank, any highly mineralised sampling or drill results could see this company’s share price move significantly north.