Yahoo Finance ,March 28,2017 BURLINGTON, ON / ACCESSWIRE / March 28, 2017 / Green Swan Capital Corp. (GSW.V) ("Green Swan") announces that it has entered into an agreement to acquire 2,800 hectares in five large unpatented claim blocks located in the Gowganda region of north-eastern Ontario.
This region produced 60.1 million ounces of silver and 1.4 million pounds of cobalt between 1910 and 1989, representing 11% of the total silver and 6% of the total cobalt endowment of the Cobalt-Gowganda camp. This output came from ten separate mines, with the Miller-O'Brien mine in Nicol Township being the largest (production of 38.0-million ounces silver and 0.8-million pounds cobalt (Ontario Geological Survey, Open File Report 6318). The claim blocks being acquired do not cover areas of past production.
Gowganda is located 85 km northwest of the town of Cobalt and its world famous silver-cobalt camp, and roughly 120 km north of Green Swan's other cobalt assets in Sudbury, Ontario. Infrastructure is readily available in the region in the form of Highways 560 and 65 as well as several secondary roads.
Green Swan has been aggressively acquiring strong cobalt assets in ethical jurisdictions (Ontario and Quebec), with a view to supplying the skyrocketing demand in cobalt. Cobalt is a key component in the cathode of those batteries, for cell phone, laptops, hand held tools and most importantly electric vehicles. Cobalt pricing on the London Metal Exchange has increased roughly 250% since February, 2016, and management believes that the price will continue to trend upwards for the foreseeable future.