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N27, Northern CoBalt
blacksheep
post Posted: Oct 17 2019, 11:25 AM
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Posts: 6,791
Thanks: 2305


Another failed cobalt dream chaser changing direction and now plans to be digging for gold

N27 advsied in August 2019 - "it is undergoing a review of all its projects and activities. In line with current market conditions, all non-executive directors have agreed to reduce their
board fees by 50%
". At the last quarterly had $742k left in kitty - the last CR was in May 2019 - raised $1.5m @ 5c, which would - "fund exploration to develop drill-ready targets on the Company’s Snettisham project in Alaska and Wollogorang project in the NT."

Announcement out today.

Nearology to NST's Pogo Gold Mine has created some excitement - or maybe some heavy pumping going on? SP up 137.5%

QUOTE
Binding agreement to earn up to 80% of the Goodpaster Project, adjacent to Northern
Star’s Pogo Gold Mine, Alaska. Placement and Corporate Update.

• The Company has executed a binding term sheet with Millrock Resources Inc (TSXV: MRO) to earn up
to an 80% interest in the brownfields Goodpaster Project in Alaska

• The Goodpaster Project surrounds Northern Star’s (ASX: NST) Pogo Mine, which has produced 4 Moz
@ 13.6g/t at 300koz pa; reserve/resource of over 6 Moz Au (ASX: NST Announcement 19/9/2019)

• Northern Cobalt has secured an exclusive option for up to 100 days to complete due diligence and
provision drill access road works in preparation for the 2020 drilling program

Drilling to begin in Q1, 2020 on high priority drill targets immediately adjacent to the recent NST
announced Goodpaster Discovery “2.3km strike open in all directions” (ASX: NST Announcement
16/9/2019) within 450m of the claim boundary

• Initial exploration program will include 7,500m of diamond core drilling

• Joint lead managers PAC Partners Securities and Taylor Collison have firm commitments for a
placement of $1.5m


No doubt will have to have a name change biggrin.gif

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