- Company is largest landowner in historic Cobalt Camp, with more than 50 past-producing mines and a mill
- Worldwide demand for cobalt, an essential component in renewable batteries, expected to become critical
- Assay results indicate potential zone of cobalt mineralization tracked across more than 100 meters
Positive assay results from exploratory drill holes taken from a prospective zone of cobalt mineralization near a mine owned by First Cobalt Corp. (TSX.V: FCC) (OTCQB: FTSSF) are seen as ‘significantly promising’. First Cobalt president and CEO Trent Mell announced the assay results, retrieved from samples taken near the Kerr Mine in the Cobalt North area of the Cobalt Camp in Ontario, Canada, in a news release (http://nnw.fm/zLa6b). The region is laden with more than nine past-producing underground mines that once offered up to 37 million ounces of silver and more than 900,000 pounds of cobalt.
“Cobalt North showed significant promise during the 2017 surface sampling and mapping work,” Mell stated in the news release. “These initial results confirm some of the early ideas we have for the structural setting for this area that make it highly prospective.”
The assay samples were retrieved from two drill hole locations that were selected based on core mineralization measurements. First Cobalt geologists believe that the assay results, which show both cobalt and silver, indicate a potential network of mineralization across more than 100 meters, which can be visualized as roughly the length of an American football field.
Three additional holes have been drilled and logged, with assays now pending. Preliminary results have so far shown significant copper, lead and zinc intersecting the mineralized zone, indicating a more easily targeted follow-up drilling area than individual veins would offer.
“Indications of both disseminated and vein styles of mineralization across a network for more than 100 metres make this an attractive target for a future bulk tonnage operation,” Mell continued. “With zones of mineralization now identified in Cobalt South and Cobalt North, we are seeing multiple opportunities in the Cobalt Camp for future primary cobalt sources to supply the North American battery market.”
Demand for cobalt is expected to increase considerably over the next few decades as countries around the world begin to incentivize a shift to electric vehicles, according to an article in Chemistry World (http://nnw.fm/p34K3). As an essential element of the renewable batteries that power mobile devices, laptops and electric vehicles, cobalt will likely continue to be in huge demand. First Cobalt is focused on creating the largest pure-play cobalt exploration and development company in the world. The company’s First Cobalt Refinery is the only permitted facility in North America capable of producing battery materials.
For more information, visit the company’s website at http://nnw.fm/FTSSF
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