eCobalt's Mineralized Zone Resource Extension at ICP Continues

eCobalt Solutions Inc. (TSX: ECS; OTCQX: ECSIF; Frankfurt: ECO) (“eCobalt” or the “Company”) is reporting receipt of assays for the first two of three completed resource definition diamond drill holes which confirm intercepts above the current resource grade cut-off drilled on the Company’s Idaho Cobalt Project (“ICP”) located near Salmon, Idaho. These drill holes were recommended by Micon International Ltd. (“Micon”) with the goal of upgrading a portion of inferred resources to indicated resources for inclusion in an updated feasibility study with optimized level mine plans and production schedules.
As quoted in the press release:

Mr. Paul Farquharson, President and C.E.O. of the Company commented: “The continuation of positive results of our 2017 drilling program further demonstrates the strength and continuity of the Company’s ICP resource. The demand for cobalt continues to grow – automotive companies such as Volkswagen and BMW have recently announced their intent to source cobalt from the producers themselves to secure future supply.  Major cobalt producers such as Glencore PLC recently announced ramping up cobalt production – but even doubling their current cobalt production would not meet expected electric vehicle demand.  World mine production of cobalt in 2016 was estimated to be 123,000 tonnes.  Glencore estimated that at least 285,000 tonnes of additional cobalt production would be required to make 30 percent of new vehicles electric by 2030.”

Click here for the full text release