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Copper-Cobalt Company Adds Vanadium Prospect

Stockhouse Editorial
0 Comments| November 9, 2018

Click to enlargeLast year, cobalt was the hottest market among all metals. This year, it is vanadium that has been outpacing all other metals as the price spirals higher. For this reason, many mining investors will be interested in learning more about a junior cobalt exploration company that is now also active in vanadium exploration.

Go Cobalt Mining Corp (CSE: GOCO, Forum) is a Canadian-based junior copper-cobalt exploration company focused on the 21st century markets for “battery metals”. As its name implies, the Company’s principal focus has been the cobalt market.

From the beginning of 2016 through the end of 2017, the price of cobalt more than quadrupled from roughly USD$10 per pound all the way up to well over $40 per pound. While the cobalt market has given back some of these gains in 2018, given the scarcity of this metal, it would not be at all surprising to see cobalt prices boomerang higher in the near future.

As strong as the cobalt market has been, the vanadium market has been even stronger. With the price of vanadium cresting at over USD$33 per pound, the price of vanadium has exploded by a factor of nearly ten since the beginning of 2016.

Cognizant of the strength of the vanadium market, Go Cobalt’s management has been on the look-out for the opportunity to add a vanadium component to its operations. On November 8, 2018; Go Cobalt announced executing an option agreement for Barachois Vanadium Property, located in Gaspe Peninsula, Quebec, Canada.

Quebec is rapidly heating up as a destination for vanadium exploration. Previous sampling on the Barachois Property indicates why mining companies (and mining investors) are increasingly looking to Quebec as a source for vanadium.

  • V2O5 (vanadium pentoxide): in excess of 2%
  • Lead: in excess of 8%
  • Zinc: in excess of 5%

The Barachois Property also hosts silver and selenium mineralization.

GOCO’s option allows this copper-cobalt Company to earn an undivided 100% interest in this property (with the transaction subject to CSE approval). To acquire this interest, Go Cobalt must make a cash payment of $40,000 to the vendor along with issuing 1 million Go Cobalt shares, within the 12-month term of the option.

Barachois is a 1,801 hectare land package. Mineralization is hosted in a sedimentary formation, described as “Carboniferous aged sediments”. Go Cobalt President, Scott Sheldon framed this news for investors.

"Barachois is an excellent addition to our battery metal portfolio.  This is a Canadian project with good grade and easy access.  The area of mineralization presents the company with ways to add value at a relatively low cost. Our company is very exited to get into the Vanadium space as the future market for rechargeable electrochemical cells like the Vanadium redox flow battery looks very encouraging.”

Vanadium is also a battery metal, but unlike cobalt, vanadium is a critical input in energy storage rather than power generation. As seen with the vanadium price, demand drivers here are also very strong. Further fueling this market is increasing vanadium demand but reduced vanadium supply out of China.

At the same time, cobalt remains a critical component of the battery metals equation. In geological terms, cobalt is almost always produced as a byproduct of other mining. This makes it extremely challenging to increase the supply of cobalt to meet rising demand.

Cobalt is also still at the center of Go Cobalt’s operations, via the Company’s Monster Cobalt Project in the Yukon Territory. Emphasizing this point is another recent news release put out by the Company on November 7, 2018.

Go Cobalt Samples 9% Cobalt on Bloom Target
The term “cobalt bloom” may not be familiar to many investors. As noted, cobalt is generally only found in trace amounts in the ores in which it is hosted. However, with more robust levels of cobalt mineralization, the cobalt can actually be seen in the ore – hence the term “cobalt bloom”.

The numbers from this release emphasize this point: samples with cobalt assays that approach as much as 10%. Along with this, the samples also demonstrated strong levels of copper mineralization (up to 3+%), as well as silver and gold mineralization.
Battery metals and the Power Revolution remain hot trends in our economy. Yet the mining companies who are exploring for and developing the metals deposits needed for this Revolution are trading at bargain-basement prices. Go Cobalt provides investors with an economical means to gain exposure to both copper-cobalt and (now) vanadium.
FULL DISCLOSURE: Go Cobalt Mining Corp. is a paid client of Stockhouse Publishing.

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