Bullmarketrun website: 25 July 2017 "Last week, another company we like a lot, Cobalt Power (CPO, TSX-V), found Gold in a fascinating new surface discovery that was hiding under several feet of overburden at its Smith Property contiguous to the past producing Deer Horn mine near the town of Cobalt. Channel sampling of a vein in Archean volcanics returned 12.5% Cobalt, 5 g/t Gold, 82 g/t Silver and 0.53% Nickel. BMR visited this discovery area last week, featuring impressive structure and a swarm of veins approximately 800 m southeast of the Smith shaft, and the market has underestimated the significance of this in our view. Approximately 4,000 sq. m surrounding the zone have been cleared and work is continuing so that detailed mapping and systematic channel sampling can be carried out in advance of drilling. Assay results for 9 holes completed elsewhere at the Smith are pending. Vein structures and interflow sediments follow onto the property from the Deer Horn.
The town of Cobalt, early 1900’s.
Exceptionally high-grade Silver became the main focus of miners after the first big Silver discovery in Cobalt in 1903, though a primary Cobalt deposit (Agaunico) with Silver, Nickel and Copper by-product was mined for several decades (4.4 million pounds of Cobalt) beginning in 1904. Over 100 Silver mines quickly emerged as the Cobalt area became the birthplace of Canadian hard rock mining and one of the world’s largest Silver producing regions with officially more than half a billion ounces hauled out of the ground (at least 750,000 ounces unofficially, according to sources).
Great wealth was created, but there was “tunnel vision” (understandably) regarding Silver at the expense of other metals. Gold was not obvious at surface like it was elsewhere in northern Ontario, so those hunting for the yellow metal pursued their dreams in places like Kirkland Lake and Timmins, while Cobalt was plentiful but miners weren’t too interested in it back then. Cobalt, of course, now has huge new importance in today’s technology driven world, and it has the potential to turn a large part of northern Ontario into a spectacular new area play with juniors chasing after not only Cobalt but Silver, Gold and base metals underlying a richly textured geological landscape.
Investors who identify the best juniors in this district now could be in for some explosive returns given the history of wealth creation in this region and the powerful new dynamic of Cobalt that companies like CSR, First Cobalt and Cobalt Power are harnessing."