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First Cobalt Corp.
Summary
| Project: | Iron Creek | |
|---|---|---|
| Deposit: | Iron Creek | |
| Location: | United States | |
| Commodities: | Cobalt-Copper | |
| Date: | 1/15/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-1-2020: First Cobalt Corp. announces a Resource Estimation report for its Iron Creek deposit at the Iron Creek project. Upgraded mineral resource estimate at project. TORONTO, ON — (January 15, 2020) – First Cobalt Corp. (TSX-V: FCC; OTCQX: FTSSF) (the | |
| Resources: | (Resource): 2.154Mt @ 0.32% CoEq. (Ind.) and 2.676Mt @ 0.28% CoEq. (Inf.) | |
| CP/QP: | [Resources]: Steven J. Ristorcelli (Mine Development Associates) | |
| ABSTRACT: | TORONTO, ON — (January 15, 2020) – First Cobalt Corp. (TSX-V: FCC; OTCQX: FTSSF) (the ―Company‖) is pleased to announce a new high-grade mineral resource estimate for the Iron Creek Project in Idaho, USA. In 2019, First Cobalt completed an infill drill program focused on converting Inferred Resources to Indicated Resources, resulting in a 49% conversion to the Indicated category and a 12% increase in contained cobalt metal while maintaining the average grade. The deposit is one of the few primary cobalt deposits in America and remains open along strike and down-dip. Trent Mell, First Cobalt President & CEO, commented: “Results of the infill drilling campaign exceeded our expectations and confirms that we have a continuous deposit. Future work will include drilling along strike and at depth to add tonnes as well as geophysical surveys to understand the potential of other nearby targets, including the Ruby Zone. Primary cobalt deposits are exceptionally rare around the world and we have a large and growing resource in America, where sourcing critical minerals is a priority. Identifying future sources of this critical mineral is a growing priority worldwide for both industrial and strategic purposes. In 2020, our primary focus will be to recommission the First Cobalt Refinery in Ontario, where we expect to complete two feasibility studies before the end of the quarter. Pending the results of those studies, we will then work towards recommissioning the Refinery by Q4 2020.” | |
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