Canadian Energy Materials CEO says the Grindstone Project has “exceptional cobalt numbers”.
The digital age has been around for quite a few decades now and as technology advances so does the need for critical metals. The global demand for green energy metals used in our modern day devices and vehicles as part of the green revolution has seen a surge in demand for these critical metals such as rare earths, cobalt, nickel, and copper.
Canadian Energy Materials Corp. (TSXV: CHEM) is a mineral exploration and development company focused on the acquisition and development of a portfolio of high quality energy metals and materials projects around the world. The Company’s projects target rare earths, nickel, copper, platinum group metals, as well as their major focus, cobalt.
The Company’s three projects are all located in Canada and include:
- The Grindstone Project
- The Manitou Project
The Grindstone Project (flagship project)
The Grindstone Project is a drill-ready nickel-copper-cobalt project with district-scale potential on a 10,826 hectare property in New Brunswick, Canada. The Project is located 20 km south-southwest from the town of St-Quentin, and 35 km northeast of the town of St-Leonard.
The Grindstone Project area was intermittently explored by Noranda Inc. from 1993 to 1995. They completed airborne magnetic and radio-metric surveys and ground follow up work including: Silt and soil geochemical surveys, geological surveys, mag VLF and preliminary diamond drilling totaling 5 holes and 441 meters. The silt surveys detected highly anomalous Ni-Co up to 800 ppm Co (0.08% Co) and 2200 ppm Ni (0.22% Ni). 5 shallow drill holes (max. 127m @ -45°) did not reach the target zone or explain the geochemical and geophysical anomalies.
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Having established 5-6 high-priority drill targets the Company plans to drill the fully funded project in 2019 with results to follow. Drill permits have been submitted and are awaiting approval as well as an exploration agreement is in place with surface owners.
The Grindstone Nickel-Copper-Cobalt Project location map
In an interview with InvestorIntel’s CEO Tracy Weslosky on the Company’s Grindstone Copper-Nickel-Cobalt Project, President and CEO Michael Schuss said: “We have got a project in New Brunswick. It is a former Noranda project. It had exceptional cobalt numbers. I have looked at thousands of cobalt projects all over the world. When I saw this, the numbers were so good, I confirmed it with the ex-Noranda guys and looked at all the old data and I said I got to get this….We do have something huge…a big target.”
The Wicheeda Rare Earths Project
The Wicheeda Rare Earths Project is a discovery-stage Light Rare-Earth Element (LREE) Project in Northern British Columbia.
The Manitou Project
The Manitou Project is a discovery-stage Nickel-Copper-Cobalt-PGM exploration property located in the Côte-Nord region of Québec.
Investors are currently awaiting the 2019 drilling campaign and results from the exciting Grindstone Project. Exploration companies are always more risky but offer higher reward in return. Given the positive history of the area and the strong geophysics the upside potential looks very significant should they report great drill results.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>