NEW YORK, October 25, 2018 /PRNewswire/ --
According to a report released by Stratistics MRC, the global cobalt market is expected to grow at a compound annual growth
rate (CAGR) of 10.3% between 2017 and 2026. Cobalt is widely used in nickel-metal hydride batteries and lithium-ion batteries.
Cobalt helps make these rechargeable batteries more efficient and stable by tackling problems such as reduced life cycle,
corrosion, and battery explosions. Increasing demand for lithium-ion batteries used in cell phones, laptops and electric cars, as
well as growing demand for cobalt alloys in airplane engines, are some of the key factors that drive the growth of cobalt market.
Declan Cobalt Inc. (OTC: DCNNF), Lundin Mining Corp. (OTC: LUNMF), First Cobalt Corp. (OTC: FTSSF), Royal Nickel Corporation
(OTC: RNKLF), Trilogy Metals Inc. (NYSE: TMQ)
Tightened regulations on the emission of vehicles have driven the growth of EVs. According to a report from International
Energy Agency, the number of electric cars is projected to reach 125 Million units by 2030, based on current and planned
policies. In 2017, the number of electric and plug-in hybrid cars on the roads increased 54% to exceed 3 Million around the
globe. By region, China is the largest market for electric cars. The number of electric cars
sold in China increased 72% to nearly 580,000 in 2017. The United
States is the second largest market, with about 280,000 cars sold in 2017.
Declan Cobalt Inc. (OTC: DCNNF) is also listed on the Canadian Securities Exchange under the ticker (CSE: LAN). Just
earlier today the company announced breaking news that, "it has completed the acquisitions of both Tisová Pty Ltd. ("Tisova") and
TGER Pty Ltd. ("TGER"), owners of certain mineral concessions located in the Czech Republic and
Germany (the "Properties").
The Properties are comprised of two concessions and four concessions application parcels comprising 15,929 ha in both
Germany and the Czech Republic. The concessions are less than
150km from several electric vehicle battery plants, including BMW's principal supplier's planned factory at Erfurt. Declan is
currently conducting a comprehensive program of geological mapping, deep geophysical surveying, and 3D modeling with a view to
identifying drill targets and commencing drilling as soon as feasible. Further details of the program results will be released
upon receipt, expected prior to the end of October.
The 2018 Tisová exploration program has been designed and supervised by Paul McGuigan, P. Geo.,
of Cambria Geosciences Inc. and includes:
- the completion of a deep, 3D Induced Polarization survey over the entire Tisová concession by Dias Geophysical of
Toronto;
- the assembly of all historic mine drawings and diamond drilling data into a common 3D georeferenced database;
- a planned detailed ground magnetic survey with detailed GPS locations to integrate with the IP and also provide an accurate
digital elevation model for 3D modeling and drill targeting;
- re-interpretation of structural data from an extensive, multi-year underground mapping project conducted by Charles
University, Prague wherein Levels 2 through 6 were mapped prior to the Tisová mine closure in
1994; and
- new geological and structural mapping to compliment and verify the historic data and provide the geological controls and 3D
modeling for drill targeting.
Preliminary results point to a successful return of electrical responses from the deepest levels of the Tisová mine at depths
greater than 600m below surface. Detailed 3D inversions of the IP data are underway and will
incorporate the detailed magnetic data, when obtained in early November.
Otto Janout, an experienced Czech-Canadian explorationist, has expedited all Czech logistics
and has also acted as the project community liaison, ensuring ongoing local support of Declan's initiatives.
Mining at Tisová was first recorded in the 13th century and, by the 16th century, there were over 2,000 workers at three
underground mines producing 5 per cent copper. Production was smelted locally in several parts of the Tisová valley. A local
industry of copper and brass fabrication was also spawned by the Tisová mining activity. Modern style mining commenced in 1899
(with the founding of the Klingenthal-Graslitzer Copper Mining Company). After the First World War, the Graslitz region ceded to
the newly founded Czechoslovakia. The buildings and treatment plants of the Klingenthal-Graslitzer
Copper Mining Company were demolished between 1923 and 1929. Additional modern mining has taken places over the subsequent
decades.
Wayne Tisdale, President of Declan, notes: "This is a rare and exceptional opportunity for
Declan to explore in a jurisdiction with a rich mining history. The extent of local mining knowledge is deeply impressive and
gives us a chance to commence this project with significant data in hand."
All geological compilations will be made available on Declan's website at http://www.declancobalt.com.
In exchange for 100% of the common shares of Tisová and TGER, as previously disclosed in its press release of July 6, 2018, Declan has:
- paid an aggregate of $60,000 in cash to the shareholders (the "Vendors");
- incurred not less than $500,000 in exploration expenses prior to October 31, 2018;
- issued an aggregate of 1.5 million common shares of Declan ("Declan Shares") to the Vendors on the closing date at a deemed
price of $0.30 per share;
- agreed to incur a minimum of $1 million on the Properties by July 1,
2019 as well as the issuance of an aggregate 2.5 million Declan Shares to the Vendors at such time; and
- agreed to incur an additional $1 million on the Properties each year for the next three years
and not later than July 1, 2022 and issue an additional 4 million Declan Shares to the
Vendors.
The Company has also paid a finder's fee by way of the issuance of 46,875 Declan Shares at a deemed price of $0.30 per share. The finder may receive additional Declan Shares (not to exceed and aggregate of 250,000
shares) should Declan choose to proceed with additional exploration to the period ending July 1,
2022.
In connection with this transaction, 100,000 stock options have been granted to the Company's Australian resident appointed
director for both TGER and Tisová. The stock options are exercisable at $0.30 for a period of five
years and vest in equal tranches over four years.
The securities issued in connection with the acquisitions are subject to a hold period and may not be traded until
February 24, 2019.
Mr. Garry Clark, P. Geo., Director of Declan and principal of Clark Exploration Consulting, is
the "Qualified Person" as defined in NI 43-101, who has reviewed and approved the technical content in this press release."
Lundin Mining Corp. (OTC: LUNMF) is a diversified Canadian base metals mining company with operations in Chile, the United States of America, Portugal and Sweden, primarily producing copper, nickel and zinc.
Additionally, Lundin Mining holds an indirect 24% equity stake in the Freeport Cobalt Oy business, which includes a cobalt
refinery located in Kokkola, Finland. Lundin Mining Corporation recently announced that it has
issued a notice to redeem all of its 7.875% Senior Secured Notes due 2022, on November 21st, 2018.
There is USD 439.2 Million principal amount of the Notes currently outstanding. Additionally, the
Company announced that it has executed an amending agreement to its revolving credit facility that increases the facility to
USD 550 Million with a USD 50 Million accordion option, reduces the
costs of borrowing and extends the term to October 2022, from June
2020. Ms. Jinhee Magie, Senior Vice President and Chief Financial Officer, commented, "We
are grateful for the ongoing support of our lenders and ability to increase and extend this low-cost facility. Combined with the
early redemption of our 7.875% Notes, we have been able to significantly reduce our borrowing costs while maintaining substantive
financial liquidity and flexibility."
First Cobalt Corp. (OTCQX: FTSSF) is a North American pure-play cobalt company whose flagship asset is the Iron Creek
Cobalt Project in Idaho, USA, which has Inferred mineral resources of 26.9 Million tons grading
0.11% cobalt equivalent. First Cobalt Corp. recently reported new drill results from its Iron Creek Cobalt Project in
Idaho, USA. The results demonstrate thicker cobalt mineralized zones as well as mineralization
between the two recognized zones. All drill holes reported contain mineralization over long widths and grades above the Inferred
Resource average grade, including: 25.7m of 0.35% Co and 0.62 Cu (0.42% CoEq) in hole ICS18-03;
22.6m of 0.34% Co and 0.59% Cu (0.40%CoEq) in hole IC18-29; 27.8m of
0.27% Co and 1.09% Cu (0.38% CoEq) in hole ICS18-02. Higher grade mineralization occurs within the broader zones of
mineralization, including 8.0m of 0.45% Co and 2.07% Cu (0.65%CoEq) in hole ICS18-02. Trent Mell, President & Chief Executive Officer, commented: "Today's drill results from our flagship asset
support the development vision for the future of the Iron Creek Project. We now have three drill rigs on site for infill and
extensional drilling as we work towards updating the mineral resource estimate in early 2019."
Royal Nickel Corporation (OTCQX: RNKLF) is a multi-asset mineral resource company with a portfolio of nickel, cobalt,
and gold production and exploration properties. RNC Minerals, in its capacity as Manager of the Dumont Joint Venture with Arpent
Inc., a subsidiary of Waterton Precious Metals Fund II Cayman, LP and Waterton Mining Parallel Fund Offshore Master, LP, recently
announced that Ausenco Engineering Canada Inc. has been awarded the contract for a feasibility study update for the Dumont
Nickel-Cobalt Project. Ausenco has led all of the earlier pre-feasibility and feasibility studies completed on the project.
Ausenco, in conjunction with Duro Fulguera, also completed additional engineering work in 2015 to develop an EPC Lump Sum Turnkey
Proposal for approximately 72% of the capital cost. "We are very pleased to work again with the high calibre team from Ausenco
and supporting engineering firms to complete the feasibility study update as we work toward our goal of making a construction
decision in 2019." said Mark Selby, President and Chief Executive Officer of RNC. "These
engineering and consulting firms have a deep level of knowledge and experience from their previous work, both at Dumont and other
large open pit mining projects in Canada and abroad. I look forward to the updated feasibility
study results confirming the inherent value in the structurally low-cost Dumont Nickel-Cobalt Project, which is well-positioned
to deliver the additional nickel and cobalt required by the early 2020s to meet strong demand growth from the stainless steel and
electric vehicle markets. Dumont remains one of the world's premier battery metals projects containing the world's largest
undeveloped reserves of nickel and second largest undeveloped reserves of cobalt."
Trilogy Metals Inc. (NYSE: TMQ) is a metals exploration company focused on exploring and developing the Ambler mining
district located in northwestern Alaska. Trilogy Metals Inc. recently reported its third quarter
results for the period ended August 31st, 2018. The Q3 highlights included a cash position of
USD 30.5 Million and working capital of USD 27.2 Million. Also, on
June 5th, 2018 the Company announced a maiden cobalt resource of 182.4 Million tons grading 0.019%
Co for 77 Million pounds of inferred resources. On July 20th, 2018, the Company announced the
filing of an updated technical report for the Bornite Project incorporating the cobalt resource and updates from the 2017 drill
program at the Bornite Project. On August 23rd, 2018 the Company announced an expansion of the
Bornite drilling program, with its partner, South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY), funding an additional USD 800,000 for the Company to add two drill rigs, which have subsequently completely four holes totaling
approximately 2,170 meters. The 2018 program and budget at the Bornite Project which was originally USD 10
Million, includes in-fill and off-set drilling to better define and expand the high-grade copper resources at Bornite, was
increased during the quarter to USD 10.8 Million with a focus on adding additional drilling towards
the end of the field program. Camp opened during mid-May and a seismic program was completed in early June. Results from the
seismic program have now been received and the technical teams at the Company and South32 intend to meet later this year to
review and analyze the information collected.
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