Last Updated :
30 July 2010 at 12:05 IST
Heritage Gold to mine cobalt at Thackaringa
Australia’s Heritage Gold said it will be part of a new float to mine cobalt at Pyrites Hill, Thackaringa, near Broken Hill in outback New South Wales.
The ASX and NZX-listed mining company owned 33 percent strakes in the resource belong to Broken Hill Proprietary (BHPL) while global mining giant BHP Billiton holds 66 percent.
Heritage says "following on from previous exploration for Broken Hill-style mineralisation, BHPL is preparing for a rotary air blast (RAB) drilling programme of 4,375 metres to test extensions of surface base metal anomalies and sulphide gossans under shallow soil cover."
BHPL has identified several new Broken Hill-style base metal occurrences, as well as a near surface cobalt deposit. It also has uranium prospects at Dunmarra Basin in the Northern Territory.
The company has substantial New Zealand interests, including underground mines in the Coromandel, which are the subject of interest from Chinese investors at present.
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