Accelerate Discovers Cobalt at Thomas Creek

Accelerate Resources Limited (ASX:AX8) has discovered multiple semi-massive pyrite veins in diamond drill hole TCDD003 at the Thomas Creek cobalt-copper-gold prospect.

Australian-based Accelerate is a resource focused investment company with ongoing projects Australia and Tasmania.

As quoted from the press release:

The intersection of multiple zones of semi-massive pyrite veining in TCDD003 is similar to that hosting significant cobalt mineralisation associated with sulphide veining in TCDD001, which was reported on July 11.

TCDD001 had returned significant cobalt results from similar semi massive pyriite veining including 3m at 0.23 percent cobalt in similar semi-massive pyrite veins within a zone of coarsely disseminated pyrite.

Drill hole TCDD003 ended at 357.9m and targeted a large IP chargeability anomaly directly below a surface sampling location which was sampled in 2017 and returned results including, 3,300ppm cobalt, 1.52 percent copper and 0.59 g/t gold from saprolitic bedrock beneath peaty soil cover.

The inclined hole (-550 dip, 0450 azimuth) intersected disseminated pyrite (trace to 5 percent) within altered andesites and monzodiorites throughout the hole.

Click here to read the full press release