COBALTECH MINING INC. (TSXV: CSK) (FRANKFURT: 9BN1) (WKN: A2DG59) (OTC PINK: BNCIF) (the “Company” or “CobalTech”), is pleased to provide an update on its exploration plans for its recently acquired land package in the heart of Cobalt, Ontario. Through a series of acquisitions, CobalTech now controls 343 hectares in the heart of the Cobalt camp. These blocks include 11 former producers or advanced exploration projects with both surface and underground workings. The projects include the Kerr, Lawson, Drummond, Conisil, Hargraves, Belmont, Silver Cross, Campbell-Crawford, Juno, Airgiod and Silver Bird mines that had an estimated total output of 37.266 million ounces of silver and 253,000* pounds of cobalt all mined from shallow depths not exceeding 186m from surface**.
As quoted in the press release:
These include the former Kerr and Lawson Mines that produced 32.72 M oz of silver and an unknown quantity of cobalt between 1904 and 1960. It also includes the former Conisil Mine for which the 1994 Mine Closure Report filed with MNDM by Agnico-Eagle mentions cobalt mineralization of 78,966 tons @ 0.17% Co for a total of 270,462 pounds of cobalt as well as 500,000 ounces of silver. No details are provided with regards to this calculation in terms of method used, parameters, assumptions and categories.