2017-11-21 07:39 ET - News Release
Mr. Trent Mell reports
FIRST COBALT REPORTS 9.4% COBALT SAMPLE FROM CASWELL MINE PROSPECTING PROGRAM
First Cobalt Corp. has released the results of several high-grade cobalt outcrop and muck pile samples from the Caswell mine in the Cobalt camp. A prospecting program identified the high-grade mineralization at surface in the Cobalt central area of the Cobalt camp in Ontario, Canada, including 9.44 per cent cobalt, 1.27 per cent copper and 2.92 per cent nickel.
Highlights:
- Grab samples at the former Caswell mine confirm high-grade cobalt at surface and at shallow depths, including cobalt grades of 9.4 per cent, 4.8 per cent, 6.1 per cent and 1.1 per cent.
- These results along with pending assays from other historic mines owned by First Cobalt have prompted a dedicated exploration program to quickly assess near-surface high-grade cobalt mineralization through shallow drilling, borehole geophysical surveys near historic workings and ground geophysics over larger areas.
Trent Mell, president and chief executive officer, commented: "In just six months of exploration activity in the Cobalt camp, First Cobalt has identified cobalt mineralization styles that have never been reported in its 110-year history, further confirming the need to re-examine the camp using modern geoscience techniques. Recent prospecting suggests that smaller high-grade historic cobalt mines like Caswell could be ideal targets for near-term follow up. As we ramp up our activities in 2018, these new targets will be assessed in parallel with the current exploration program focused on bulk-tonnage opportunities near the former producing Bellellen, Drummond, Keeley and Frontier mines."