Cobalt Power Group Inc. (
TSX: V:CPO,
Forum) said today it has signed a non-binding letter of intent to acquire four separate blocks of mineral claims in the South Lorrain and Lorrain Townships, Ontario.
The properties cover 7,400 hectares and are currently owned or leased by Canadian Cobalt Projects Inc., a private held mineral exploration company.
More information can be found
here.
Cobalt Power has made a series of strategic property acquisitions over the past year, seeking cobalt mineralization near Cobalt, Ont., a region with a long history of silver and associated cobalt production.
The company was in the news recently when it raised $480,000 in flow-through proceeds from
a second non-brokered private placement announced on February 16, 2017. Proceeds are earmarked for drilling on the company’s Smith Cobalt project, which is expected to begin in the spring of 2017.
Full Disclosure: Cobalt Power Group Inc. is a paid client of Stockhouse Publishing.