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International Cobalt to assess rare earth potential at Blackbird Creek in Idaho

The work will be managed by Alberta-based Dahrouge Geological Consulting, the company said in a statement.

Electric car
The demand for such goods as electric cars is fueling demand for cobalt and rare earths

International Cobalt Corp (CNSX:CO) told investors Monday that it is poised for a summer exploration program at the Blackbird Creek property in Idaho after promising exploration results last year.

The work will be managed by Alberta-based Dahrouge Geological Consulting, which has advanced a number of critical element and rare earth occurrences throughout North America.

It comes after last year, International Cobalt carried out extensive data compilations, mapping, and surface sampling, which resulted in several significant discoveries, including rare earth element (REE) mineralization at the Raven prospect.

READ THE DEEP DIVE: International Cobalt growing footprint in world-class Idaho belt as it looks to feed future electric vehicle demand

There was an average grade of 1.75% Total Rare Earth Oxide (TREO) over sixteen rock samples, along with cobalt values ranging from 1.03% to 5.85% cobalt.

As well as rock samples at Raven, a property-wide soil sampling program outlined a broad area of Cerium, used in alloys.  

The firm says this soil anomaly further bolsters the potential to host additional rare earth-bearing mineralization.

The planned program announced today is due to  include detailed mapping and sampling to further define the Raven prospect as well as following up on soil anomalies. There will also be further work on the nature of the rare earth mineralization.

"We are extremely excited to continue exploration at the Blackbird Creek Property at a time when the US domestic supplies of critical elements, such as REE’s and cobalt, have been deemed to be crucial," said Tim Johnson, CEO at International Cobalt.

Abundance of critical elements

"The property’s location and abundance of critical elements, coupled with our team’s technical ability in both the rare earth and cobalt space, position the company to rapidly advance the asset at Blackbird, and further, provides for an exciting 2019 exploration season.”

In early June this year, the US govenment issued a report on critical minerals, recommending that the supply chain be increased domestically.

Demand for rare earths and other critical commodities, including cobalt and copper, continue to experience rapid growth, due to various factors, making them crucial to the electric car, high tech, and defense industries.

Shares were unchanged at $0.015

Contact Giles at [email protected]

Follow him on Twitter@Gile74

Quick facts: International Cobalt Corp

Price: 0.015 CAD

CSE:CO
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