Australia-listed Auroch Minerals has entered into an option agreement to acquire the historic Tisová copper mine and three exploration licences in the Czech Republic, which CEO Dr Andrew Tunks said on Monday had the potential to be a “substantial unrecognised cobalt play”.
Previous exploration and mining at Tisová, which operated from 1959 to 1973, focused on the copper-rich volcanogenic massive sulphide of the deposit. However, sampling of the broader sulphide envelope has produced significant grades of cobalt, copper and gold, with grades of up to 0.68% cobalt copper having been returned from assay samples. Potential gold byproduct of between 0.2 g/t and 3.7 g/t gold were reported.
