Go Cobalt Mining Corp. (CSE: GOCO) (“Go Cobalt” and/or the “Company”) is pleased to update regarding an appraisal on the 100% owned HSP Project (“Property”) in Quebec, Canada.
Go Cobalt Mining Corp. (CSE: GOCO) (“Go Cobalt” and/or the “Company”) is pleased to update regarding an appraisal on the 100% owned HSP Project (“Property”) in Quebec, Canada. Go Cobalt reports the following:
- Defined 4 large conductive and magnetic targets associated to mineralized outcrops.
- Enlarged land package now totals 42.4 km2 to cover all target areas.
- Ni-Cu-PGE mineralization occurs at surface with potential to be expanded along strike and at depth.
- Coincident magnetic and EM anomalies indicate buried mineralization.
Figure 1: The HSP Claims: In red – anomalous areas based on a combination of magnetics and EM. The anomalous areas are located within a NNE trending structural corridor that is cross cut by NW trending faults. These areas will be further explored using a variety of geological and geophysical methods.
The HSP Project is a nickel, copper, PGE property in Quebec, acquired by Go Cobalt in February 2019. The Property is 4240 Ha in size and located approximately 135 km north of Havre-Saint-Pierre. HSP contains several mineral occurrences with elevated nickel, copper, cobalt, gold and PGE. A Quebec hydro road comes within 10 km of the Property.
Appraisal of historical geophysics
A historical Aerodat survey was re-interpreted by Southern Geosciences Canada. The results have provided the company with structural data, a preliminary geological map, and most importantly, several geophysical targets for follow up. These geophysical targets include conductive zones and magnetic anomalies. The depth of penetration of the Aerodat survey was approximately 100 m.
The historical survey was flown with 300 m line spacing and is considered low resolution. Despite the low resolution the survey yielded several near surface conductors that were followed up with trenching and/or soil samples. Several showings with surface Ni-Cu-PGE were subsequently discovered.
Target areas and structural geology
Several anomalous zones have been extracted from the geophysical data. Interestingly, some of these new zones have not been targeted directly with either geophysical or geological exploration.
The most interesting feature on the claim is the intersection of a broad structural corridor trending NNE with a pronounced fault that trends NW. A Ni-Cu-PGE surface showing and the most consistent conductive targets occur on this fault.
Go Cobalt intends to delineate and inspect both the old and new targets in more detail. These areas will be further explored with geophysical methods and surface investigation prior to drilling.
Go Cobalt has committed capital to complete work on the HSP Project in 2019 and is currently considering both a frequency domain EM survey and a time domain EM survey. Both survey types will help to further delineate the most prospective areas. Based on the results of the selected survey Go Cobalt will assess the most effective follow-up program.
Adrian Smith, P.Geo., is the qualified person for the Company as defined in the National Instrument 43-101 and has reviewed the technical information presented in this news release.
About Go Cobalt:
Go Cobalt develops exciting and relevant mining exploration projects. Our approach is to rely on local talent and respect local territories while maintaining upside exposure to new discoveries. Go Cobalt intends to pursue energy metal projects to help meet the demand for a battery powered future.
For further information, please contact:
Scott Sheldon, President Go Cobalt Mining Corp.
This press release may include “forward-looking information” (as that term is defined by Canadian securities legislation), concerning the Company’s business. Forward-looking information is based on certain key expectations and assumptions made by the Company’s management, including future plans for the exploration and development of its mineral properties. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws.