Greatland Gold has applied for licences covering a large cobalt exploration property in the Pilbara Region of northern Western Australia.
The company said the Panorama cobalt project - located approximately 200 kilometres south east of Port Hedland - occupied a dominant and strategic position across what was potentially the largest coherent cobalt in streams anomaly in Western Australia.
It said stream sediment sampling data gathered by Anglo American in the early 1970s outlined a 25 kilometre long by 10 kilometre wide area of highly anomalous cobalt, but very little exploration work on the project had been carried out since.
Chief executive Gervaise Heddle said: "Cobalt is a vital component in many of the new technologies that are set to reshape the future of the global energy market.
"Half of the current global supply of cobalt comes from the Democratic Republic of Congo (DRC) in Africa and cobalt projects with the ability to scale to meet future global demands are rare, particularly in safe jurisdictions such as Australia.
"We believe that the Panorama Cobalt Project is highly prospective for a large, near surface deposit in an area that has been almost completely ignored by mineral explorers for cobalt for the past forty years."