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Blast Resources Inc. is a reporting issuer with the British Columbia Securities Commission (“BCSC”) having received acceptance of its’ filing of a prospectus and will commence trading on the Canadian Securities Exchange (“CSE”) by mid-September 2023. The Company is a mineral exploration company engaged in the acquisition, exploration, and evaluation of resource properties. The Company holds the option to earn a 100% interest in the Property located near Vernon, Utah, United States in central Tooele County, Utah, United States.
The Company intends to use its existing working capital to carry out the Phase I Exploration Program for the Property. Initiating the Phase II Exploration Program is contingent on the Phase I Exploration Program producing favourable results.
The mineral exploration and development industry is very competitive. The Company competes with other entities in the search for and acquisition of mineral properties, attracting and retaining key personnel, and financing opportunities.
The Vernon Hills Project is a cobalt exploration program situated in central Tooele County, Utah. It is located approximately 5.4 kilometers to the east of the town of Vernon and about 84 kilometers to the south-southeast of the bustling metropolis of Salt Lake City. The project area is covered by ten lode claims, which are legal rights that grant exclusive access to explore and extract valuable minerals from a specific piece of land.
Cobalt Market Size is projected to reach USD 19.47 Billion by 2030, growing at a CAGR of 9.3%.
Currently, the traditional areas of consumption and application of cobalt are mainly in the production of lithium battery materials, super heat-resistant alloys, tool steels, hard alloys, magnetic materials. As a result of the availability of cobalt in the USA, there has been huge effort to not use cobalt in the manufacture of batteries. Cobalt is an amazing metal and also a favorite of recyclers, that is vital to the efficiency in world operations. This is why Blast is so interested in developing a cobalt mine in the USA.
At this time, exploration has been limited to surficial observations, aerial imaging, and sample collection. This exploration has been informed by historic maps, data, and reports. Aerial survey data including orthomosaic, digital terrain model, and digital elevation model have been useful.
Preliminary geochemical assays show concentrations of cobalt ranging from 332 to 6060 ppm Co in this brecciated unit. The identified mineralized breccia contains cobaltiferous minerals within the matrix. The mineralogical assemblage includes psilomelane, quartz, rhodochrosite, and tephorite.