Thomas Edison legacy spurs investor interest in cobalt, conflict free minerals and sustainability.
“Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.” — Thomas Edison
While Thomas Edison is better known for inventions such as the first practical light bulb, he was also very involved in the mining industry. Edison pioneered new geophysical techniques, mineral extraction technologies, and developed the battery powered miners’ head lamp.
Edison was heavily involved with the original Cobalt, Ontario silver rush, however it was not the silver he was after. At the turn of the 20th century, Edison was developing a new cobalt-iron battery. Eventually Edison acquired the Darby property (now the Thomas Edison Mine) in 1905.
Edison Cobalt Corp. (TSXV: EDDY) is a Canadian-based junior mining exploration company focused on the procurement, exploration, and development of cobalt, lithium and other energy metals. The Company’s flagship project is the Kittson Cobalt project, located near the town of Cobalt in northeast Ontario, Canada.
Edison Cobalt’s Projects
Edison Cobalt owns the Shakt-Davis, Thomas Edison, and Cobalt-Kittson mines, as well as numerous historic workings.
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The Shakt-Davis mine
Historic reports from the Shakt-Davis mine indicate values of 1.5% cobalt (Co) over 1.37 meters and select grab samples returning up to 4% Co and 93.3 g/t gold (Au). Locally significant nickel, copper and to a lesser extend lead, zinc and bismuth also occur within the quartz-carbonate veins.
The Thomas Edison Mine
From 1905 to 1907 Edison remotely directed operations at the mine which included sinking two shafts to 150 feet. Between 6 and 8 tons of ore of unknown grade are reported to have been extracted, but no commercial production is recorded.
The Kittson-Cobalt Property and Kittson Mine
The Kittson-Cobalt Property now consists of 216 unpatented claims and 1 patented claim totaling 4,440 hectares. For the historic Kittson mine production records are sparse, however 600 pounds of smaltite (a cobalt-bearing mineral) was mined from the 580 foot level and gold assays up to 6.86 g/t were also reported. Sampling of the Kittson mine waste pile by the company during the summer exploration program returned up to 11.0 g/t gold, 0.20% cobalt and 9.12% copper.
On October 2, 2018 the Company announced that the summer prospecting program on their Kittson-Cobalt Property has identified a new zone of gold-rich cobalt mineralization located approximately 600 meters north of the historic Kittson mine. Out of a total of 140 samples collected from the North Kittson Zone, 10 returned >0.1% cobalt and four returned >1% cobalt. Several samples also contained significant gold values including one sample of 7.83 g/t gold.
Neil Pettigrew, President and CEO said: “The discovery of the North Kittson zone confirms the potential for additional zones of cobalt mineralization on the Kittson-Cobalt Property. Four holes from the current drill program have targeted this new zone, assay results of which should be returned soon.”
Edison Cobalt’s summer exploration program is ongoing with a total of 2,620 meters (21 holes) having been completed and sent for analysis, as well as investigating the large western claim group acquired in late 2017. Additional results from these programs will be released as they become available.
Neil Pettigrew, CEO stated in an interview with InvestorIntel: “The Edison Cobalt mine has something that has not had exploration since 1905. This has been locked up in the family trust of the Edison family since then. It took us almost a year to extract this particular mine. Now that we are the full owners of this mine we are going to have some very significant results come out of it. We think that is really going to spur the market on with the numbers that we see coming out of this project.”
Do you think Tesla may be interested in purchasing any future resources from Edison? Just a thought.
Matthew Bohlsen holds a Graduate Diploma in Applied Finance and Investment (similar to CFA), and a Graduate Diploma in Financial Planning. He has 30 years ... <Read more about Matthew Bohlsen>