First Cobalt Corp. (TSXV:FCC,ASX:FCC) announced that it has purchased five unpatented claims in the North Cobalt region of Ontario’s Cobalt Camp. The claims are near the company’s past-producing Silver Banner and Ophir mines.
As quoted in the press release:
- Three of the claims are contiguous to First Cobalt properties to the east of the Silver Banner and Ophir mines
- As limited exploration has been conducted on these claims, First Cobalt intends to conduct mapping as well as soil and till geochemical surveys as part of a grassroots exploration program in 2018
- Claims include ground containing Huronian Supergroup conglomerate in contact with Nipissing diabase; a favourable geological setting for cobalt-silver mineralization
Trent Mell, president and CEO of First Cobalt, commented:
This area of North Cobalt is of particular interest as some of the more significant past-producing cobalt mines are nearby, including the Silver Banner mine where we reported high grade cobalt samples.