Proactive Investors - Run By Investors For Investors

First Cobalt stamps footprint in historically producing region of Canada

The claims are near past-producing mines in a favourable geological setting.
Cobalt on table of elements
A grassroots exploration program is planned for 2018

First Cobalt Corp (ASX:FCC) has acquired five prospects in the northern part of the Cobalt Camp in Ontario, Canada.

The unpatented claims are near the company’s past producing Silver Banner and Ophir mines, and are in a favourable geological setting for cobalt-silver mineralisation.

Three claims are also contiguous to First Cobalt’s properties to the east of these mines.

Limited previous exploration

Limited exploration has been carried out on the claims and the company plans a grassroots exploration program in 2018.

First Cobalt intends to conduct field mapping as well as soil and till geochemical surveys.

The claims cover 750 hectares to the east of the historical mines.

Assay results from muck pile grab samples taken from Silver Banner included 1.14%, 0.69% and 0.47% cobalt.

Focus in region turns to cobalt

Silver Banner was a smaller silver mine but veins contain a cobalt-silver-nickel relationship comparable to some of the larger mineralised vein systems in the Cobalt Camp.

High grade cobalt would not have been the focus of past exploration and similar systems could have been overlooked in the new areas.

First Cobalt is the largest land owner in the Cobalt Camp and controls over 10,000 hectares of prospective land and 50 historic mines as well as a mill.

It also has the only permitted cobalt refinery in North America capable of producing battery materials.

View full FCC profile View Profile

First Cobalt Corp. Timeline

Related Articles

November 05 2018
Historical high-grade ore stockpiles present an early cashflow opportunity.
Alaska map
October 03 2018
The project includes the “smoking gun” deposit Zackly which contains an inferred resource of 41,200 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver, with mineralisation continuing 100 metres below the bounty.
Gold nugget
November 22 2018
Such is the size of the two nuggets, they are now touring the world’s museums as curios

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use