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First Cobalt Corp.
Summary
| Project: | Keeley-Frontier | |
|---|---|---|
| Deposit: | Kerr | |
| Location: | Canada | |
| Commodities: | Cobalt-Silver-Copper-Nickel | |
| Date: | 7/11/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 11-7-2018: First Cobalt Corp. announces an Exploration/Drilling Update report for its Kerr deposit at the Keeley-Frontier project. Drilling results incl. 6.5m @ 0.33% Co, 133.2g/t Ag, 0.13% Cu, 0.84% Pb, 0.23% Zn from 81.0m. TORONTO, ON — (July 10, 2018) | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Frank Santaguida (Internal) | |
| ABSTRACT: | TORONTO, ON — (July 10, 2018) – First Cobalt Corp. (TSX-V: FCC; ASX: FCC; OTCQX: FTSSF) (the “Company”) is pleased to announce that drilling in the Canadian Cobalt Camp has identified a second cobalt mineralization trend within the Kerr area near surface extending over a 500-metre strike length. This mineralized trend is located parallel to and 400 metres north of the previously identified Kerr #2 Zone, which has been traced over 350 metres to date Trent Mell, President & Chief Executive Officer, commented: “The results reported today are just 400 metres north of the Kerr #2 Zone, providing great encouragement to our vision of large scale open pit mining in the Cobalt Camp. We are reallocating a larger portion of the 2018 exploration budget to the Kerr area despite having a multitude of prospective targets across our land package. Results from nine drill holes are pending and additional drilling is planned. The valuation of battery metals explorers, developers and miners have come under pressure in recent months, however First Cobalt is well positioned to capitalize as market sentiment improves. Our programs are fully-financed into 2019, work programs in Idaho and Ontario are progressing well and we own a permitted North American cobalt refinery, giving us the potential to become a near-term producer outside of the DRC and in proximity to U.S.-based lithium-ion battery manufacturers.” First Cobalt previously identified a network of multiple veins at various orientations in the Kerr #2 Zone containing cobalt and several other metals along with disseminated mineralization across a 350m strike length (see May 24, 2018 press release). Today’s results confirm the existence of a second cobalt mineralized trend parallel to and 400m north of the Kerr #2 Zone. Cobalt mineralization has been traced within the known 500m strike length of the historic Drummond and Kerr Lake Mines. | |
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