First Cobalt drills 0.48m of 0.8% Co at Keeley-Frontier
2017-11-02 08:57 ET - News Release
Mr. Trent Mell reports
FIRST COBALT REPORTS 0.8% COBALT OVER 0.5 METRE IN EARLY DRILL RESULTS
First Cobalt Corp. has released early assay results from the Keeley-Frontier drill program. First Cobalt's 2017 drill campaign is targeting cobalt mineralization over a total two-kilometre strike length, representing less than 2 per cent of a pro forma land package with several known historic cobalt-rich mines.
Highlights:
The company intersected 0.83 per cent cobalt and 30 grams per tonne silver over 0.48 metre north of the Frontier mine, that may represent an extension of the Woods-Watson vein system, which accounted for over 80 per cent of the production in the southern end of the Cobalt camp area known as Silver Centre.
Potential for a high-grade cobalt-silver vein system exists near surface in an area previously unexplored.
Zinc and lead were intersected as part of a hydrothermal halo around the vein systems provides another example of previously unknown metal zoning as seen elsewhere in the Cobalt camp.
The company is reporting results on eight of 61 holes drilled to date; this is for over 6,200 metres of the 9,000 m maiden drill program.
Trent Mell, president and chief executive officer, commented: "Ahead of the upcoming Cobalt One and CobalTech shareholder votes later this month, these early results are quite timely. Finding evidence of cobalt mineralization in an area previously believed to be barren is positive news but not a surprise, as this historic camp has seen very little exploration over the past 50 years. We are very encouraged to see the polymetallic nature of the mineralization across the Cobalt camp, as this suggests that a broader hydrothermal system exists beyond the historically mined veins. This is a geologically complex, target-rich land package that will require further interpretation and I am proud of our team's progress in our first six months."
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