08:00:34 EDT Tue 28 Jun 2022
Enter Symbol
or Name

Login ID:
Jervois Global Ltd
Symbol JRV
Shares Issued 1,519,750,961
Close 2022-06-23 C$ 0.465
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Jervois to spend further $3.6M (U.S.) for ICO drilling

2022-06-23 20:59 ET - News Release

Mr. Bryce Crocker reports


Jervois Global Ltd. has updated its progress on further defining the resource at its Idaho cobalt operations (ICO) in Idaho, United States.

Jervois's board of directors has approved an additional $3.6-million (U.S.) for drilling to complete additional infill and first expansion drilling from both surface and underground platforms to further define and expand its Ram deposit within ICO. This will take total planned drilling footage in 2022 to 46,000 feet.

The drilling campaign, expected to be completed by fourth quarter 2022, will continue to reduce drill hole spacing in the resource planned for early production, and will target expansion downdip of the currently defined and known deposit.

This program is a continuation of the previously announced $1.2-million (U.S.) program approved in February, 2022, set to be completed in August of this year. This will improve ICO's resource model used to develop a production block model for both short- and medium-term mining operations.

Expansion of the resource is important if ICO is to operate for longer than its initial mine life or at higher production rates than contained in the ICO bankable feasibility study. The Ram deposit remains open at depth and along strike, and Jervois has confidence that there exists a strong potential of both resource and reserve expansion.

We seek Safe Harbor.

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