(TheNewswire)
Highlights:
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Idaho Cobalt Operations (“ICO”)project construction continues in line with Jervois’ updatedschedule and cost announced in December 2021
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First drill bay delivered to site;ICO underground in-fill drilling due to commence in Q1 2022
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US$1.2 million campaign isanticipated to deliver 5,800 metre in-fill drilling by Q4 2022
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Campaign will decrease drill holespacing to enhance ore body knowledge, robustness of Mineral Resourceand Reserve Estimates, and will be used to underpin and derisk initialmining, expected from Q3 2022.
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Planning is also underway withrespect to both surface and underground drill programmes, to becompleted during 2022, that will be focused on resource expansionbeyond the limits of the current ICO mineral resource
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Once commissioned, ICO will be theonly mine supply of cobalt in the United States, a critical metalnecessary for industry, defense, electric vehicles and energygeneration and distribution in a carbon constrained economy
TheNewswire - 31 January 2022 - The Board of Directors of Jervois Global Limited(“ Jervois ”) (ASX:JRV) (TSXV: RV) (OT C :JRVMF) has approved an initialin-fill drill programme at Idaho Cobalt Operations ( “ICO” ) in Idaho,United States, commencing in Q1 2022.
During 2022, Jervois is planning a drill programme fromboth above and below ground. The initial underground section of thisplan is to improve the robustness of the resource model that will begenerating a production block model for mining start up later thisyear. Planning is also underway to determine what resource extensiontargets can be drilled from underground positions.
Jervois has committed US$1.2 million to completeapproximately 5,800 metres of underground drilling at its RAM depositwithin ICO. The in-fill drilling campaign across 2022, will reducedrill hole spacing in the underground resource ahead of firstproduction later this year. Underground drilling is expected tocommence later in Q1 2022.
Whilst not part of this initial approval, Jervois’steam at ICO is also planning a resource expansion drill programme fromsurface between April to November 2022, when site conditions permit. Expansion of the resource is important if ICO is to operate forlonger than its initial mine life, or at higher production rates thancontained in the ICO Bankable Feasibility Study. The RAM depositremains open at depth, and Jervois has confidence that there exists astrong potential of resource and reserve expansion. Further detailson this additional programme will be advised once finalized andapproved by Jervois’s Board later in Q1 2022.
Small Mine Development (“ SMD ”), a regionalunderground mining contractor engaged at ICO, continues below surfacedevelopment. Construction is on schedule and the first undergrounddrilling bay was delivered during the month of January.
First ore at ICO is anticipated for August 2022 andJervois expects to reach sustainable commercial production fromDecember 2022.
On behalf of Jervois
Bryce Crocker, CEO
For further information, please contact:
Investors and analysts: James May Chief Financial Officer Jervois Global Limited | Media: Nathan Ryan NWR Communications nathan.ryan@nwrcommunications.com.au Mob: +61 420 582 887 |
Forward-LookingStatements
This news release may containcertain “Forward-Looking Statements” within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 andapplicable Canadian securities laws. When used in this news release,the words “anticipate”, “believe”, “estimate”,“expect”, “target, “plan”, “forecast”, “may”,“schedule”, “expected” and other similar words or expressionsidentify forward-looking statements or information. Theseforward-looking statements or information may relate to the timingconstruction activities at ICO, the timing of productions at ICO, thetiming of the drill programme and outcomes from such drill programme,and certain other factors or information. Such statements representJervois’ current views with respect to future events and arenecessarily based upon a number of assumptions and estimates that,while considered reasonable by Jervois, are inherently subject tosignificant business, economic, competitive, political and socialrisks, contingencies and uncertainties. Many factors, both known andunknown, could cause results, performance or achievements to bematerially different from the results, performance or achievementsthat are or may be expressed or implied by such forward-lookingstatements. Jervois does not intend, and does not assume anyobligation, to update these forward-looking statements or informationto reflect changes in assumptions or changes in circumstances or anyother events affections such statements and information other than asrequired by applicable laws, rules and regulations.
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