Edison Cobalt Returns up to 6.1% Cobalt in Initial Prospecting from the Historic Thomas Edison Mine
September 11, 2018 (Source) — Edison Cobalt Corp. (TSXV: EDDY) (“Edison Cobalt“ or the “Company“) is pleased to announce initial prospecting results from the historic Thomas Edison mine located in the heart of the Kittson-Cobalt project (Click here to view Map). The mine lies on the same fracture system that hosts the historic Shakt-Davis mine located ~1 km to the west.
Jeffrey Cocks, President and CEO said: “The Thomas Edison Mine was a landmark acquisition for the Company. These initial prospecting results confirm the high-grade nature of the mineralization. The Thomas Edison mine has not been explored since 1907 and is the central focus of this summer’s exploration program.”
Initial prospecting of the Thomas Edison mine area by the Company returned up to 6.1% cobalt from waste rock piles. A total of 7 samples from waste rock piles and old trenches were collected, 4 of which assayed in excess of 1% cobalt, the results of which are detailed in Table 1.
Table 1. Preliminary Prospecting Results.
|Sample Number||Co wt. %||Au g/t||Ag g/t||Cu wt.%||Ni wt. %||Pb wt. %||Zn wt %||Bi wt %|
Edison Cobalt’s summer exploration program (see news release August 13, 2018) is ongoing. A total of 2,620 metres (21 holes) have been completed to date, extensive geological mapping and prospecting will continue till mid-fall. The Exploration Program aims to delineate the full extent of the fracture system hosting the three historic mines on the Property: Thomas Edison, Shakt-Davis, and Kittson mines, as well as within the large western claim group acquired in late 2017. Additional results from these programs will be released as they become available.
About the Kittson-Cobalt Project
The Project is located near the town of Cobalt in northeast Ontario, Canada. The Project hosts the historic Thomas Edison, Shakt-Davis and Kittson mines, as well as numerous historic workings, the deepest extending down to 628 feet, and over 2,700 feet of lateral workings. Cobalt mineralization occurs in Proterozoic-aged quartz-carbonate veins hosted in brittle shears in Nipissing diabase. This style of mineralization is similar to that of the famous Cobalt Silver Camp Located ~15 km east of the Property, which produced 420 million ounces of silver with cobalt as a significant by-product. Veins hosting the mineralization at the Kittson-Cobalt Project differ from the typical Cobalt Silver Camp veins in that they are lower in silver but richer in cobalt and are associated with significant gold. Historic reports from the Shakt-Davis mine indicate values of 1.5% Co over 1.37 metres and select grab samples returning up to 4% Co and 93.3 g/t Au. Locally significant nickel, copper and to a lesser extent lead, zinc and bismuth also occur within the quartz-carbonate veins.
About Edison Cobalt Corp.
Edison Cobalt Corporation is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium and other energy metals in North and South America. Edison Cobalt’s acquisition strategy focuses on acquiring affordable, cost-effective and highly regarded mineral properties in areas with proven geological potential. The Company’s shares are listed and posted for trading on the TSX Venture Exchange under the symbol “EDDY”, in the USA on the OTC Markets under the symbol “PWMRF”, and on the Frankfurt Exchange under the symbol “VV0”.
The technical content of this news release has been reviewed and approved by Neil Pettigrew, M.Sc., P.Geo., Vice President of Exploration and a Director of the Company, and a Qualified Person as defined by National Instrument 43-101.
On behalf of the Board of Directors:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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