Primary Cobalt Corp. and Exco Mining (Spain) Announce Results of Grab Samples from Past Producing Projects

- July 16th, 2018

Primary Cobalt Corp. (CSE – Prim) (“Primary” or the “Company”) is please to announce the results of grab samples taken during May 2018 due diligence site visits.

Primary Cobalt Corp. (CSE – Prim) (“Primary” or the “Company”) is please to announce the results of grab samples taken during May 2018 due diligence site visits. The samples were taken from the Cobalt, Copper, Silver, Lead, Nickel and Manganese projects, inside one of the galleries on its Buran permit permits in Almeria and from the waste dumps of old cobalt mines located within the Beatriz permit in Granada province in southern Spain.

Daniel Porras, Dipl.-Geol, member European Federation of Geologists (“EFG”) who is a Qualified Person as defined under National Instrument 43-101, supervised the collection of the samples (Buran Sample). The samples were submitted to ALS Minerals in Seville, Spain for analysis. The samples were crushed, split, a portion was pulverized and a one-gram aliquot analyzed by ALS Chemex method ME-MS61 (48 elements, including Si, Cu, Pb, four-acid ICP-MS). Some relevant results among others are summarized in the table below, in grey colour the anomalous values:

 

PROJECT SAMPLE Ag (ppm) Co (ppm) Cu (ppm) Mo (ppm) Ni (ppm) Pb (ppm) Zn (ppm)
BURAN PROJECT PC18-05 0.89 18.3 28,7 1520 11.3 4680 294
  PC18-06 1.15 9.8 65.6 3.82 31.8 91.1 101
  DJ-1 26 379 1.27 4 57 >10000 433
  BU-LAB-1 47.6 40.6 10650 2.32 14.6 47.4 183
  BU-DJ-1 0.29 11.5 54.7 2.35 26.5 57.1 28
  BU-DJ-2 968 129 15450 3.35 6.5 >20000 116
  BU-DJ-3 386 59.4 7220 1.21 24.9 89600 80
  BU-DJ-4 1.62 43.4 95.2 2.03 50.6 319 396
BEATRIZ PROJECT PC18-04 0.83 3950 3620 0.42 554 110.5 76
  B-1 3 3850 1.47 3 1200 11 72
  BE-ENC-1 15.2 6040 2990 0.6 1670 9710 15
The main target pursued in these projects is the cobalt minerals and typical paragenesis (Ag, Cu, Ni and others) and although in the Buran project it was not possible to get access to the cobalt rich samples in the old galleries, it were found very interesting mineralizations with high molybdenum contents and overall a massive dike that shows silver at 968ppm (0.0968 %), content of 1%/kg per ton, 1.5% Copper and 20% Lead,. Regarding Beatriz project, the high cobalt contents found in the samples with important contents in nickel and copper makes also very relevant and encouraging the results obtained. The grab samples are selected samples and may not be representative of the mineralization hosted on the property. On July 11, 2018 London Metal Exchange (LME) quoted, Silver at $15.80/oz, Copper at $2.78/lb and Lead at $1.00/lb.

Buran and Beatriz Projects, Andalucia, South-South East Spain

Historic Highlights

  • The mineralization is enriched in several elements (Co-Ni-Ag-Se-As-Hg) that entry into the category of RSE (redox-sensitive elements). The mineralization is stratified with high TOC dolomites affected by thrusts, a Mississippy Valley-type origin can be extrapolated for this deposit, with the origin of the metals in the washing of marine series or from the mafic intercalations into the series, with the carbonate/dolomite formations as a “reducing trap” for mineralization.
  • The concentrations of primary cobalt minerals are important and with further exploration to determine to their regional extension. This type of deposit can be very widespread in Betica, and could also concentrate elements of the platinum group. It is quite similar to the D.R.C. mineralizations.

References: Algunos minerales característicos de la Provincia de Granada ,Arana R. Boletin de la Sociedad Española de Mineralogía 2, Investigaciones Mineralógicas en Sierra Nevada(Cordilleras Béticas. España) – TESIS DOCTORAL Universidad de Granada Arana R. Monografía sobre recursos minerales de cobalto en España, Rubio Navas J. IGME (Instituto Geológico y Minero de España)

Pat Morris, President of Primary, said, “The analytical results from this sampling program will assist us in identifying potential target areas for core drilling during our exploration program. The unexpected high contents in other important elements are very encouraging and speak to the potential upside in our search for these critical energy metals.”

The technical information contained in this news release has been reviewed and approved by Daniel Porras, Dipl.-Geol, member European Federation of Geologists (“EFG”) who is a Qualified Person as defined under National Instrument 43-101.

About Primary

PRIMARY COBALT CORP. (CSE: PRIM) is a listed junior exploration company and is engaged in the business of acquiring, exploring and developing ethically sourced Cobalt, Copper, Nickel and Vanadium focussed mineral resource properties to create value for its shareholders.

ACQUISITION FOCUS – Other projects Primary is investigating are in the clean energy sector. In this sector, the Company if focused specifically upon exploration opportunities to source green energy power minerals for use in battery production. Primary’s interests in this sector are guided by the following:

  • Identifying opportunities in regions that are conducive to mining due to the regulatory nature of the government with existing infrastructure.
  • Identifying opportunities in geographical locations that provide easy access large markets for these metals.
  • Identifying opportunities with locations with existing mine shafts.

ON BEHALF OF THE BOARD OF DIRECTORS

/s/ Patrick Morris
President

Patrick Morris, CEO

Telephone: +1 778-735-1000

E-mail: info@primarycobalt.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved.  A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

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