Chilean Cobalt Corp. Expands NeoRe Development Program With Exploration Success, Engineering Progress and AI Engagement
Rhea-AI Summary
Chilean Cobalt (OTCQB:COBA) reported progress at its NeoRe Rare Earth Project in southern Chile, supporting plans for the first Modular Extraction Plant (MEP-1).
NeoRe has completed 133 drill holes totaling 1,504 meters, advanced work on 14 of 35 targets, and continues surface sampling that highlights REE anomalies across several areas.
Basic engineering, led by Equalitas Ingeniería, is nearly 25% complete, and pilot-scale downstream processing has shown encouraging REE recovery across multiple mineralized layers.
The project is engaging Mineral Forecast SpA to apply AI for target generation and exploration prioritization, while also adding key staff in supply chain and data science. Any definitive acquisition agreement would include standard conditions and a shared sustainability and community framework.
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BERWYN, PA / ACCESS Newswire / June 12, 2026 / Chilean Cobalt Corp. (OTCQB:COBA) ("Chilean Cobalt" or the "Company") is pleased to provide an update on ongoing exploration, engineering, permitting, and technology partnership initiatives at the NeoRe Rare Earth Project ("NeoRe" or the "Project") in southern Chile, as the Company advances its integrated development strategy toward the Project's first Modular Extraction Plant ("MEP-1").
Through project operator NeoRe SpA ("NeoRe"), the Company continues to advance resource definition, process optimization, engineering, permitting, and project financing activities in support of this modular development strategy.
Since beginning exploration, NeoRe has completed 133 drill holes totaling 1,504 meters. Exploration and drilling activities have now advanced across 14 of 35 identified targets, including 12 targets drilled to date.
Surface exploration continues to support the district-scale potential of the Project, with recent sampling identifying rare earth element ("REE") anomalies across several target areas, supporting continued drilling and evaluation across the district.
Engineering activities continue to advance, with Basic Engineering led by Equalitas Ingeniería Ltda reaching nearly
The Company is also advancing the use of artificial intelligence ("AI") and advanced geoscientific technologies with the NeoRe Project. Following a successful pilot program previously conducted on Chilean Cobalt's La Cobaltera cobalt-copper project in northern Chile, NeoRe will work with Mineral Forecast SpA, a Chile-based geosciences AI company. The work program will support NeoRe's accelerated exploration strategy by enhancing target generation, prioritize exploration activities, and optimize the identification of areas with higher mineral potential across the district.
NeoRe is also strengthening its operational capabilities through the recruitment of several key personnel across supply chain management and data sciences.
Any definitive acquisition agreement, if completed, will include customary conditions precedent, termination rights, and a jointly developed sustainability and community engagement framework, consistent with Chilean regulatory requirements and industry best practices.
This press release does not constitute an offer or sale of, or the solicitation of an offer to buy, securities of the Company nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Chilean Cobalt Corp.
Chilean Cobalt Corp. is a U.S.-based critical minerals exploration and development company focused on the La Cobaltera cobalt-copper project in northern Chile, one of the world's few primary cobalt districts. Chilean Cobalt is committed to creating ecological and social value for all stakeholders; economic value for Chile and the Chilean communities in which it operates; and financial value for its shareholders.
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Examples of forward-looking statements, include, among others, statements the Company makes regarding its ability to achieve a definitive agreement under the option to acquire the Project, ability to incorporate any acquired claims into its next phase of exploration, ability of the Project to successfully accelerate the exploration work program, ability to establish "Proven" or "Probable" Reserves, as defined by the SEC under Regulation S-K 1300, through the completion of a Definitive Feasibility Study for the minerals that the Company seeks to produce and the inherent risks of mining, exploration, development, and processing operations that may negatively impact the business. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the Company. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
CONTACTS:
Chilean Cobalt Corp.
Duncan T. Blount
Chairman & CEO
Duncan.Blount@chileancobaltcorp.com
SOURCE: Chilean Cobalt Corp.
View the original press release on ACCESS Newswire