Idaho Cobalt Operations Underground Drilling Campaign Approved

AUSTRALIA - Jervois Global Limited has approved an initial in-fill drill program at Idaho Cobalt Operations (ICO) in Idaho. During 2022, Jervois is planning a drill program from both above and below ground.  The initial underground section of this plan is to improve the robustness of the resource model that will be generating a production block model for mining start up later this year.  Planning is also underway to determine what resource extension targets can be drilled from underground positions.  

The Company plans to complete approximately 5,800 meters of underground drilling at its RAM deposit within ICO.  The in-fill drilling campaign across 2022, will reduce drill hole spacing in the underground resource ahead of first production later this year.  Underground drilling is expected to commence later in Q1 2022. While not part of this initial approval, Jervois’s team at ICO is also planning a resource expansion drill program from surface between April to November 2022, when site conditions permit.  Expansion of the resource is important if ICO is to operate for longer than its initial mine life, or at higher production rates than contained in the ICO Bankable Feasibility Study.  The RAM deposit remains open at depth, and Jervois has confidence that there exists a strong potential of resource and reserve expansion.  Further details on this additional program will be advised once finalized and approved by Jervois’s Board later in Q1 2022.MR