First Cobalt (TSX.V: FCC) (OTCQX: FTSSF) (ASX: FCC), a North American pure-play cobalt company, this morning reported drill results from its Iron Creek Cobalt Project in Idaho, extending mineralization at an additional 100m to 250m from surface in the central section of the present resource area at grades similar to the resource estimate. Per the update, broad widths of mineralization continue to be intercepted and numerous new cobalt-copper intercepts occur between the main zones as well as in the footwall and hangingwall, providing more evidence that continuous mineralization extends along other horizons. Importantly, this could provide additional tonnage to a future resource calculation. “Results from the drill campaign completed in December are showing very good continuity and consistency of mineralization. As expected, we have encountered mineralization at depth and in the footwall and hangingwall of the No Name and Waite Zones. In addition, mineralized intercepts between the two historic zones are occurring over appreciable widths, indicating the possibility that the two zones could in fact be a single, larger zone. A total of 13,000 meters were completed in phase two drilling and assays received to date provide a strong indication that the company can show a significant enhancement over the maiden resource estimate,” First Cobalt president & CEO Trent Mell stated in the news release. “First Cobalt is well positioned for a rebound in the commodities sector. Important near-term catalysts for shareholders include an update on the First Cobalt Refinery expected shortly and the Iron Creek resource estimate anticipated by March 31.”
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About First Cobalt Corp.
First Cobalt 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 tonnes grading 0.11% cobalt equivalent. The company also owns the only permitted cobalt refinery in North America and 50 past-producing mines in the Canadian Cobalt Camp. For more information, visit http://nnw.fm/FTSSF
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