TORONTO, ONTARIO – (Marketwired – Sept. 6, 2017)
First Cobalt Corp. (TSX VENTURE:FCC) (OTC:FTSSF) (the “Company”) today announced the filing of an independent NI 43-101 technical report on its Greater Cobalt Project located near Cobalt, Ontario.
The Project area covers 4,300 hectares in the neighbouring historic towns of Silver Centre and Cobalt, now commonly referred to as the Cobalt Camp.
- Describes the geological setting of the Camp and provides a detailed history of past production, noting that three historic mines within the Greater Cobalt Project (the Keeley, Frontier and Bellellen mines) produced an aggregate of 3.3 million pounds of cobalt and 19.2 million ounces of silver
- Provides a detailed list and map of all assessment work filed on the Greater Cobalt project
- By assuming the Woods Vein accounted for 70% of cobalt production from Keeley-Frontier, the technical report concludes that the average feed grade was about 0.8% Co; possibly higher, due to unreported cobalt content in silver concentrates
- Concludes that the Cobalt Camp has potential to host additional arsenide silver-cobalt vein deposits and that further exploration is warranted
- Endorses the Company’s 2017 exploration program and budget, consisting of historical data compilation, prospecting, geological mapping, use of modern geophysical and geochemical methods plus follow-up surveys, as well as diamond drill testing of targets.
The technical report entitled “Technical Report on the Greater Cobalt Project, Larder Lake Mining Division, Ontario dated effective July 31, 2017 was prepared in accordance with National Instrument 43-101 – “Standards of Disclosure for Mineral Projects” by Ian Trinder, MSc, P.Geo., of CSA Global Geosciences Canada, an independent “qualified person” for the purposes of NI 43-101.