Longford Resources: Proposed Name Change to New World Cobalt Limited
Subiaco, WA / February 28, 2018 / JMN Wire / Longford Resources Limited (ASX: LFR) (“Longford” or “the Company”) is pleased to announce that it is seeking requisite approvals to change its name to “New World Cobalt Limited”. The Company believes this will better reflect the Company’s primary objective – which is to rapidly advance its high‐grade cobalt projects, all of which are located in stable jurisdictions, through exploration and to production.
Longford’s Managing Director, Michael Haynes, said the Company had deliberately pursued the acquisition of highly prospective cobalt projects within stable jurisdictions to mitigate the risks associated with investing in less‐stable geopolitical locations.
“Our proposed new name reflects this strategy, which is rapidly gaining momentum as exploration gets into full swing across our portfolio of North American cobalt assets. There is considerable potential to define JORC Resources at the previously mined Colson Cobalt‐Copper Project in Idaho in the near‐term. And at the Goodsprings Copper‐Cobalt Project in Nevada, where historically there was production of cobalt at exceptionally high grades, to 29.2% cobalt, there is district‐scale potential to make major discoveries.
“Shareholders can look forward to plenty of news‐flow in the coming months, with an extensive sampling program already in progress at Goodsprings, where we recently tripled the size of our tenement holding, and, following the completion of a very successful soil sampling program earlier this month at the Colson Project, further sampling is to be undertaken in and around the Salmon Canyon Deposit in the coming months in advance of drilling which is scheduled to commence in the June quarter of 2018.”
- New name reflects focus on exploring and developing high‐grade cobalt deposits in Tier‐1 jurisdictions
- Aggressive exploration programs underway at the Company’s high‐grade cobalt projects in the USA
- Permitting in progress for maiden drilling program at the Salmon Canyon Deposit within the Colson Cobalt‐Copper Project in North America’s premier cobalt belt in Idaho
- Extensive work programs underway in advance of drilling at the Goodsprings Copper‐Cobalt Project in Nevada
- Option to acquire 80% of Keel Zinc Project in Ireland relinquished