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Jervois launches resource extension drilling with U.S. Govt support

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(Kitco News) - Jervois Global (TSX-V: JRV) announced Monday it has commenced its underground resource extension programme at the RAM deposit and has successfully completed initial surface drilling of the Sunshine historic resource, part of its 100%-owned Idaho cobalt operations (ICO).

The company said the RAM resource extension programme will involve the commenced construction of an underground exploration drift as well as the extensional drilling to define potential step-outs from the existing RAM mineral resource estimate (MRE), which the commenced construction will enable.

Jervois added that drilling is complete at Sunshine, an historic resource adjacent to the company's 100%- owned ICO deposit and the surface rig is demobilised for winter. Assay results from the 7-hole program at Sunshine are expected in Q1 2024 and are expected to be used to prepare Jervois' inaugural MRE for Sunshine.

Importantly, Jervois said that based on the existing U.S. Department of Defense US$15.0 million funding agreement, the company anticipates its costs for these exploration programmes, up to the end of Q3 2024 for exploration development, drilling, logging, assaying, MRE modelling and other related costs, to be fully reimbursed.

Jervois said it aims to become the leading global supplier of responsibly sourced cobalt and nickel materials to serve both the battery and chemicals markets, and to provide a "secure, reliable supply to customers in the face of geopolitical and other risks."

According to the company, cobalt is a critical mineral as declared by the U.S. Government due to cobalt's aerospace, defense and energy transition applications.

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