Formation Metals Reports Progress on Its Idaho Cobalt Project and Hydrometallurgical Plant

Formation Metals Inc. (TSX:FCO)reported updates on the progress of construction on its Idaho Cobalt Project, comprised of the development of a mine and construction of a concentrator at a primary cobalt deposit in Lemhi County near the town of Salmon, Idaho, and the construction of an electrowinning cobalt production facility in Shoshone County near Kellogg, Idaho, U.S.A.

As quoted in the press release:

Mine & Concentrator Site Construction Progress Summary
Construction activities at the minesite are concentrated on the construction of a new access and haul road recently approved by the agencies overseeing the mine plan of operations.

Major re-alignment work on a section of the access road known as “Buddy’s Grade” has also been completed at the minesite.

Cobalt Production Facility Construction Progress Summary
Engineering, construction and procurement continued on the ICP concentrate refining circuits.

Formation Metals Chairman and CEO Mari-Ann Green said:

Construction activities continue at both the minesite and the refining complex utilizing cash on hand to keep critical construction activities moving forward while we continue to concentrate on closing the final stage of mine financing

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