M2 Cobalt focuses on discovering and developing world class cobalt assets in Uganda, East Africa. The Company's Licenses (100% owned) cover aproximately 2,413.8 km2 of highly prospective land in mineral rich country. Bordering the DRC (which currently produces appoximately 65% of the world's cobalt) its assets share the same underlying geology, and are on trend with, a number of major producing mines in the DRC, Rwanda and Tanzania. Some of M2 Cobalt's key assets are also close to, and on trend with, the former producing Kilembe mine, which produced some of the highest grades of copper globally.
The company has just completed a highly successful Phase 1 work program which discovered numerious large-scale targets across its asset base, with sampling up to 1.75% Co, 0.91% Cu and 0.26% Ni, as well as 3 distinct styles of mineralization. VMS copper / cobalt at its Kilembe-Area properties, sediment hosted Katanga-style cobalt / copper at its Bujagali Properties and ultramafic nickel / copper / cobalt at its Bombo Target. The company has now launched an initial drilling program to test several key targets.
Uganda has a stable government, a legal system based on British law and a transparent Mining Code.
It is free from child labor and conflict mineral issues, which beset the DRC and are a major concern for key end-users. M2 Cobalt has a world-class team in-country and at the corperate level.