Highlights:
•Acquisition is comprised of approximately 7,500 ha of strategically located mining claims in the Silver Center area of the Cobalt Camp, Ontario.
•With the addition of this land package, Cobalt Power becomes one of the largest landowners in the prolific Cobalt and Silver Center camps, holding over 8,700 ha. First Cobalt, Cobaltech, and Cobalt One announced a merger earlier this year resulting in a land package slightly larger than Cobalt Power's at approximately 10,000 ha.
•The Canadian Cobalt Project land package is contiguous with, or within close proximity to, the recently announced First Cobalt/Cobalt One lands and has a similar geological setting.
•The claim group includes the historic Silver Eagle Mine and lies near several past producing mines, including the Keely and Frontier (held by First Cobalt), in the South Lorrain Township, Ontario. The Silver Eagle Mine (which operated around 1918) produced 8,000 ounces of silver from a 6-meter section of mine workings that crossed the property from the adjacent Wettlaufer Mine (cobalt was not recovered, as was typical for that era).
•There are several known cobalt occurrences found on the land package - all reported in the Ontario Mineral Deposit Inventory files:
◦Labine-McMahon showing - samples collected from a quartz-carbonate vein adjacent to an aplite dike contain cobaltite, arsenopyrite and bismuthinite. An assessment of the heavy material after a partial separation from the gangue returned: 32.54% As, 4.85% Fe, 21.09% Co, 1.18% Ni, 6.26% Bi and 0.09% Zn. A sample of wall rock adjacent to a ¾" wide quartz-carbonate vein assayed 1.10% Co and 0.21% Ni. The sample was collected in 1956 and assayed by the Cobalt Resident Geologist.
◦Friday Creek showing - government reports show "a 20cm quartz-calcite veins with 17 g/t Ag, in Nipissing diabase."
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