Geotechnical Drilling Completed in Formation Metals’ Idaho Cobalt Project

 Minesite portal bench geotechnical core drilling to acquire data for rock stability studies around the portal bench area has completed on the Formation Metals Inc. (TSX:FCO) 100% owned Idaho Cobalt Project. The ICP is comprised of a primary cobalt mine in Lemhi County near the town of Salmon, Idaho, and the Cobalt Production Facility in Shoshone County, near Kellogg, Idaho, U.S.A.

As quoted in the press release:

As described in the Company’s news release dated December 6, 2011, construction activities at both the cobalt minesite and at the cobalt production facility will continue with those construction activities which are least affected by winter conditions. These include ongoing detailed engineering design which are now over 90% complete at the minesite. This work includes the development of a 3D block model for the underground mine. At the Cobalt Production Facility, the finalization of operating plans are expected to conclude this week. This will allow for the ramping up of efforts by the engineering firm to complete the detailed engineering for the facility. Further updates will be provided when available.

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