Primary Cobalt Corp. Initiates Field Program on Its RD Cobalt Property and Begins Permitting for Autumn Drill Program
Vancouver, British Columbia (FSCwire) - Primary Cobalt Corp. (the “Company” or “Primary Cobalt”) (CSE: PRIM) is pleased to announce that field crews will be mobilizing to its RD Cobalt Property within the next several days. The Property is located within northwest British Columbia near the community of Hazelton, and has excellent infrastructure, including proximity to major highways, rail, and power.
Field crews from Dahrouge Geological Consulting Ltd. will mobilize to site for an approximately 14 day exploration program that will focus on detailed mapping and sampling of the Golden Wonder Showing on the RD Property, which returned promising results from the 2017 exploration program (results summarized below). The objective of the field program will be to further assess mineralization previously identified in the area and collect sufficient information for drill program scheduled for the 3rd quarter of 2018. Permitting for the drill program is underway.
An initial ground program was completed in 2017, with much of the work focusing on the Golden Wonder Showing. Ninety-five (95) rock samples and 19 stream pan concentrate samples were collected from the Property to confirm historic assays and guide in development of potential exploration targets (see figure below). Sample highlights of from the Golden Wonder area included anomalous Au, Cu, Co across > 400 m strike length, as follows:
- 122365: 15.20 g/t Au, 77.20 g/t Ag, 0.09% Co, 4.95% Cu, massive sulfide
- 122368: 17.80 g/t Au, mudstone, rusty
- 122427: 8.75 g/t Au, 0.53% Co, 0.53% Cu (siltstone float)
- 122428: 1.69 g/t Au, 0.05% Co, 0.55% Cu (siltstone)
The high grades of Au, Cu and Co and style of mineralization observed at Golden Wonder are suggestive of a Besshi Type massive sulfide occurrence similar to the Windy Craggy Deposit in northwestern, British Columbia. Management cautions that past results or comparison to similar properties (i.e. Windy Craggy) may not necessarily be indicative to the presence of mineralization on the Company’s properties (i.e. RD Cobalt).
RD COBALT PROPERTY
The RD Cobalt Property comprises five contiguous mineral claims that cover an area of approximately 7,327 ha. The Property is approximately 1 km south of the Yellowhead Highway, a major interprovincial highway in western Canada. The west end of the Property (the Golden Wonder area) can be reached by a gravel road that links to Highway 16 southwest of Sealey Lake Provincial Park. ATV trails run west from this road north (for ~1,400 m) and south (for ~1100 m) of Denys Lake. The northern section of the Property (West’s Knoll, Daley West areas) is mostly accessible from Highway 16 by ATV along trails or by foot.
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The Property encompasses several historic Copper, Gold and Cobalt mineral showings, including Golden Wonder, Daley West, Hecla, Black Prince, Blue Lake, and Silvertip Glacier. The Golden Wonder Showing has received the most attention historically, with exploration work recorded as early as 1912.
The exploration target is a Besshi Type Massive Sulfide occurrence similar to the Windy Craggy Deposit in northwest B.C., which remains one of the largest undeveloped Cu, Au, Co deposits worldwide.
The technical information contained in this news release has been reviewed and approved by Patrick J. Kluczny, B.Sc., P.Geol., who is a Qualified Person as defined under National Instrument 43-101.
PRIMARY COBALT CORP. (CSE: PRIM) is a listed junior exploration company and is engaged in the business of acquiring, exploring and developing ethically sourced Cobalt, Copper, Nickel and Vanadium focussed mineral resource properties to create value for its shareholders.
ACQUISITION FOCUS - Other projects Primary is investigating are in the clean energy sector. In this sector, the Company if focused specifically upon exploration opportunities to source green energy power minerals for use in battery production. Primary’s interests in this sector are guided by the following:
- Identifying opportunities in regions that are conducive to mining due to the regulatory nature of the government with existing infrastructure.
- Identifying opportunities in geographical locations that provide easy access large markets for these metals.
- Identifying opportunities with locations with existing mine shafts.
ON BEHALF OF THE BOARD OF DIRECTORS
Patrick Morris, CEO
Telephone: +1 778-735-1000
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Source: Primary Cobalt Corp. (CSE:PRIM)
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