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Jervois' in-fill Drilling at ICO Adds Confidence in RAM Resource



Jervois Global Limited
  

Cremorne, AU - TheNewswire - February 8, 2023 - Jervois Global Limited (“Jervois” or the “Company”) (ASX:JRV) (TSX-V:JRV) (OTC:JRVMF) has received all results from an in-fill drilling program at its Idaho Cobalt Operations (“ICO”) in Idaho, United States (“U.S.”), which have confirmed grade continuity and widths consistent with the Mineral Reserve and Resource Estimate (“MRRE”) at the RAM deposit.

Highlights:

  • 2022 in-fill drilling at Jervois’ 100%-owned Idaho Cobalt Operations (“ICO”) improves confidence in the Mineral Reserve and Resource Estimate (“MRRE”) and further de-risks mining 

  • Results now received from all 62 in-fill holes completed in 2022, which together with expansion drilling will be incorporated into an updated MRRE for ICO, expected Q2 2023 

  • Results indicate continuity and consistency with existing RAM resource drilling and correspond well with grades and widths predicted by the existing RAM resource model  

  • Geotechnical data gained from in-fill drilling adds to the existing database and increases confidence in ground conditions 

  • In-fill drilling will continue through 2023 as ICO vertical mine development progresses 

  • ICO is the only cobalt mine in the U.S., which Jervois expects to ramp up to nameplate capacity across Q2 2023 

Jervois’ 2022 in-fill drilling program at ICO totalled 7,730 metres (“m”) in 62 completed diamond drillholes, focused on the RAM deposit underpinning current mine development at ICO, along with a single geotechnical drillhole.  All 62 in-fill holes targeted and intersected the Main Mineralised Horizon (“MMH”) of the RAM deposit.  

 

As previously disclosed, in-fill drilling has confirmed the current RAM deposit MRRE model and continues to de-risk mining, with drillhole spacing reducing from 50m down to 20m in near term production fronts.

 

In-fill drilling is ongoing and will continue through 2023 as vertical mine development progresses, focused on production areas within the upper levels of the South Zone and lower levels of the Mid Zone of the deposit.

 

Table 1: All drill holes completed at RAM during the drilling period

Hole ID

From (m)

To (m)

Zone

True Width (m)

Co Grade (%)

Cu Grade (%)

Au Grade (g/t)

JS22-001B

409.0

425.2

MMH

13.3

0.31

0.45

0.309

JU22-001

154.9

158.8

MMH

2.8

0.13

0.13

0.069

JU22-002

111.9

120.5

MMH

7.7

1.02

1.81

1.060

JU22-004

97.8

104.9

MMH

6.0

0.33

0.65

1.310

JU22-005

106.4

120.7

MMH

11.4

0.43

1.60

0.500

JU22-006

138.7

150.6

MMH

8.3

0.55

0.71

0.540

JU22-006

85.0

90.2

HW

3.1

0.57

0.27

0.280

JU22-007

130.5

142.6

MMH

9.3

0.88

0.82

0.590

JU22-008

119.3

130.5

MMH

7.7

0.39

0.96

0.690

JU22-009

103.9

110.9

MMH

6.3

0.33

0.79

0.617

JU22-010

96.6

102.4

MMH

5.8

0.11

0.10

0.170

JU22-011

101.2

111.3

MMH

9.7

0.14

0.09

0.171

JU22-012

101.8

109.1

MMH

5.4

0.46

0.25

0.620

JU22-013

109.3

115.2

MMH

5.4

0.17

0.15

0.206

JU22-014

107.9

116.3

MMH

6.4

0.67

2.50

0.500

JU22-015A

107.9

117.0

MMH

8.3

1.70

2.46

1.530

JU22-016

121.0

125.0

MMH

4.2

0.16

0.20

0.103

JU22-017

117.0

127.7

MMH

10.1

0.08

0.10

0.034

JU22-018

129.2

132.6

MMH

2.8

0.32

0.29

0.343

JU22-019

133.8

138.5

MMH

3.6

0.96

0.13

0.343

JU22-020

134.0

145.7

MMH

11.5

0.18

0.91

0.343

JU22-021

133.1

146.6

MMH

11.1

0.39

1.45

0.686

JU22-022

123.1

128.8

MMH

4.7

0.07

0.08

0.034

JU22-023

112.8

117.7

MMH

3.9

0.01

0.05

1.029

JU22-024

108.2

118.5

MMH

5.1

0.04

0.20

0.343

JU22-025

97.5

105.8

MMH

8.2

0.28

0.52

0.343

JU22-026

106.4

114.3

MMH

6.8

0.02

0.07

0.034

JU22-027

121.2

130.1

MMH

7.4

0.42

0.78

0.343

JU22-028

122.1

127.6

MMH

3.8

0.20

0.08

0.240

JU22-029

132.5

136.9

MMH

3.4

0.04

0.07

0.103

JU22-030

110.7

119.3

MMH

6.6

0.64

0.17

0.514

JU22-031

126.2

135.3

MMH

6.2

0.54

0.54

0.411

Hole ID

From (m)

To (m)

Zone

True Width (m)

Co Grade (%)

Cu Grade (%)

Au Grade (g/t)

JU22-032

22.9

26.5

MMH

2.9

0.41

0.14

1.029

JU22-033

27.7

32.5

MMH

2.9

0.33

0.06

0.411

JU22-034

71.6

77.3

MMH

2.4

0.12

0.15

0.343

JU22-035

45.7

53.0

MMH

3.4

0.22

0.15

0.789

JU22-036

27.4

36.9

MMH

8.1

0.03

0.09

0.069

JU22-037

21.3

23.2

MMH

1.8

0.28

0.07

0.651

JU22-038

43.0

49.5

MMH

4.7

0.41

0.08

0.446

JU22-039

32.7

36.3

MMH

2.9

0.06

0.21

3.394

JU22-040

80.7

89.9

MMH

7.1

0.32

1.42

0.514

JU22-041

95.7

100.7

MMH

4.2

0.16

0.08

0.309

JU22-042

77.9

85.1

MMH

3.9

0.50

1.32

0.789

JU22-043

71.2

77.6

MMH

5.4

0.79

1.74

0.960

JU22-044

67.1

72.5

MMH

5.3

0.50

1.22

0.446

JU22-045

74.1

78.0

MMH

3.4

0.07

0.17

0.069

JU22-046

73.8

80.5

MMH

5.7

0.09

0.35

0.171

JU22-047

87.2

92.9

MMH

4.5

0.12

0.51

0.171

JU22-048

96.0

107.9

MMH

8.3

0.18

0.84

0.206

JU22-049

97.9

103.7

MMH

4.4

0.02

0.11

0.137

JU22-050

122.2

152.7

MMH

12.2

0.02

0.07

0.034

JU22-051

90.5

103.9

MMH

9.7

0.23

0.96

0.514

JU22-052

82.3

95.2

MMH

8.8

0.34

1.89

0.960

JU22-053

72.5

81.4

MMH

7.8

0.31

1.41

0.514

JU22-054

72.2

82.4

MMH

14.2

0.29

1.75

0.549

JU22-055

71.3

75.4

MMH

3.7

0.11

0.38

0.137

JU22-056

62.5

67.4

MMH

4.8

0.39

1.45

0.309

JU22-057

61.3

71.3

MMH

10.1

0.14

1.00

0.789

JU22-058

68.9

75.3

MMH

6.2

0.33

0.97

0.446

JU22-059

78.3

84.1

MMH

4.6

0.09

0.35

0.103

JU22-060

80.2

93.9

MMH

11.3

0.50

0.99

0.411

JU22-061

67.7

75.6

MMH

7.4

0.54

0.67

0.583

JU22-062

78.6

86.9

MMH

6.7

0.35

0.43

0.309

JU22-063

84.1

89.0

MMH

4.1

0.30

0.40

0.343

JU22-064

289.0

300.2

MMH

8.2

0.15

0.53

0.103

JU22-064

257.4

262.7

HW

3.7

0.18

0.64

0.514

JU22-064

239.3

244.8

HW

3.7

0.18

0.22

0.446

 

Notes: True widths calculated for composite interval midpoint, perpendicular to the RAM deposit model. All results are reported uncut for both MMH and HW (hanging wall) zones.

        Drill hole JU22-003 drilled as a targeted hydrological/geotechnical cover hole for capital development.

  

Table 2: Supporting collar coordinates for currently reporting in-fill and expansion drill holes

Hole ID

Easting (m)

Northing (m)

Elevation (m)

Azimuth (deg.)

Dip (deg.)

EOH Depth (m)

JS22-001B

585

7035

2232

277

-77

490

JU22-001

448

6602

2151

179

-84

203

JU22-002

447

6602

2151

228

-58

141

JU22-003

451

6604

2152

75

-51

230

JU22-004

442

6601

2152

244

-39

135

JU22-005

443

6600

2152

223

-40

141

JU22-006

444

6604

2151

304

-78

166

JU22-007

443

6602

2151

250

-79

162

JU22-008

444

6602

2151

249

-71

162

JU22-009

442

6600

2153

250

-54

132

JU22-010

441

6602

2153

246

-35

153

JU22-011

441

6602

2153

253

-25

137

JU22-012

441

6601

2153

225

-21

130

JU22-013

442

6600

2153

225

-20

158

JU22-014

444

6602

2151

223

-53

163

JU22-015A

442

6600

2153

219

-33

157

JU22-016

443

6599

2152

207

-34

157

JU22-017

443

6600

2151

206

-50

191

JU22-018

443

6599

2153

200

-64

162

JU22-019

444

6601

2151

212

-77

180

JU22-020

444

6601

2151

185

-61

188

JU22-021

444

6601

2151

182

-73

187

JU22-022

444

6601

2151

206

-24

154

JU22-023

442

6600

2153

230

-12

160

JU22-024

441

6601

2153

250

-10

145

JU22-025

441

6602

2153

264

-33

160

JU22-026

441

6602

2153

267

-14

158

JU22-027

444

6602

2151

281

-73

179

JU22-028

441

6603

2153

285

-14

159

JU22-029

442

6603

2153

296

-16

192

JU22-030

442

6603

2153

304

-44

169

JU22-031

442

6603

2151

316

-61

207

JU22-032

338

6541

2149

181

-75

47

JU22-033

338

6541

2150

180

-40

56

JU22-034

338

6541

2151

183

5

123

JU22-035

337

6540

2151

200

5

61

JU22-036

335

6543

2150

235

-10

49

JU22-037

335

6544

2150

270

-30

41

JU22-038

334

6544

2151

270

5

55

JU22-039

334

6545

2150

295

-5

55

JU22-040

464

6453

2129

273

4

140

Hole ID

Easting (m)

Northing (m)

Elevation (m)

Azimuth (deg.)

Dip (deg.)

EOH Depth (m)

JU22-041

465

6454

2129

293

-2

153

JU22-042

465

6454

2128

289

-8

123

JU22-043

465

6454

2128

278

-13

123

JU22-044

465

6453

2128

260

-17

87

JU22-045

465

6452

2128

242

-2

92

JU22-046

465

6451

2128

222

-12

108

JU22-047

465

6451

2129

217

1

123

JU22-048

465

6451

2129

208

3

146

JU22-049

465

6452

2130

226

19

140

JU22-050

465

6453

2130

262

20

153

JU22-051

466

6450

2128

200

-16

138

JU22-052

466

6451

2127

197

-40

123

JU22-053

466

6451

2127

215

-32

108

JU22-054

466

6451

2127

209

-53

103

JU22-055

465

6451

2127

235

-60

93

JU22-056

465

6451

2128

239

-21

93

JU22-057

465

6451

2128

239

-38

81

JU22-058

465

6453

2127

291

-65

87

JU22-059

465

6453

2127

268

-77

107

JU22-060

465

6454

2128

310

-29

132

JU22-061

465

6454

2128

284

-31

92

JU22-062

465

6454

2127

311

-49

114

JU22-063

466

6455

2127

323

-60

126

JU22-064

562

6572

2120

141

-80

313

 

Note: All coordinates provided in local ICO mine grid for both surface and underground drilling.

  

Figure 1: RAM Long Section including 2022 Expansion Drilling


Click Image To View Full Size

 

Figure 2: Section A


Click Image To View Full Size

 

Quality Assurance

 

All drill core samples are sent to ALS Global Laboratories (Geochemistry Division), an independent and fully accredited laboratory (ISO 9001:2008), in Vancouver, Canada, for analysis for gold by Fire Assay and multi-element Induction Coupled Plasma Spectroscopy.  Jervois employs a regimented Quality Assurance, Quality Control (“QA/QC”) program where at least 10% duplicates, blanks and certified reference material are inserted into each sample shipment.

 

On behalf of Jervois Global Limited

 

Bryce Crocker, Chief Executive Officer

For further information, please contact:

 

Investors and analysts:

James May

Chief Financial Officer

Jervois Global

james.may@jervoisglobal.com

  

Media:

Nathan Ryan

NWR Communications

nathan.ryan@nwrcommunications.com.au

Mob: +61 420 582 887

 

Competent Person’s Statement

The information in this release that relates to Mineral Exploration is based on information compiled by Andrew Turner, P.Geol. who is a consultant for the company and a member of The Association of Professional Engineers and Geoscientists of Alberta.  Andrew Turner has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.  Andrew Turner consents to the inclusion in the release of the matters based on the information in the form and context in which it appears.

 

Qualified Person’s Statement

The technical content of this news release has been reviewed and approved by Andrew Turner, P.Geol., a consultant for the Company and a Qualified Person as defined by National Instrument 43-101.

 

Forward-Looking Statements

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable 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 expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the timing of drilling operations at ICO, the outcome of the drilling program, timing of an updated resource model and certain other factors or information. Such statements represent Jervois’ current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by Jervois, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Jervois does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.