Edison Cobalt Intersects 0.55% Cobalt over 1.02 Meters and 0.46% Cobalt over 2.05 Meters in Diamond Drilling at the Historic Edison Mine on the Kittson-Cobalt Project
Edison Cobalt Intersects 0.55% Cobalt over 1.02 Meters
and 0.46% Cobalt over 2.05 Meters in Diamond Drilling at
the Historic Edison Mine on the Kittson-Cobalt Project
Vancouver, British Columbia--(Newsfile Corp. - January 15, 2019) -
Edison Cobalt Corp
(TSXV: EDDY) ("Edison Cobalt"
or
the "
Company
") is pleased to announce final results from the summer-fall diamond drilling program targeting the historic Edison
Mine area of their Kittson-Cobalt Project, located in the prolific Cobalt Silver Camp in Northeast Ontario, Canada.
A total of 2,620 metres (21 holes) were completed during the summer-fall program, results from the final 8 holes of the program
comprise this release. The First 12 holes of the program (see news release October 23, 2018) included intercepts up to
0.27%
Co over 2.65 metres including 1.24% Co over 0.35
.
Highlights from the final 8 holes include, hole ED-18-013 which returned a wide intercept of
0.07% Co over 9.28 meters
Including 0.88% Co over 0.31 meters
. And hole ED-18-015 which encountered two zones returning
0.48% Co over 1.85
meters, including 0.55% Co over 1.02 meters
and
0.46% Co over 2.05 meters
.
The program successfully intersected the fracture zone that hosts the Edison Mine mineralization over a strike length of ~150
metres and to a maximum depth of ~175 meters. The fracture zone ranged from 7 to 30 metres wide (drilled core length) and
hosts several 0.1 - 2.0 metre quartz-carbonate veins surrounded by intense carbonate alteration. Fracture and vein controlled
cobalt mineralization in the form of smaltite and erythrite (cobalt bloom) occurred throughout this zone with values as high as
1.24% Cobalt over 0.35 meters.
A full list of significant intersections from the final 8 holes of the program is provided in Table
1 below. A drill hole location map, an isometric view and cross section are shown here.
(Click here to view Maps and Figures)
Commenting on the latest results, Neil Pettigrew, President and CEO said: "
We're very encouraged by the 2018 drill programs
on the historic Edison Mine and throughout the Kittson-Cobalt Project. These results will help guide future drilling plans.
"
Table 1.
Diamond Drilling Highlights.
Hole
Number
From
(Metres)
To
(Meters)
Width
(
Meters
)
Co wt. %
Au g/t
Ag g/t
Cu wt.%
Ni wt. %
ED-18-013
78.60
87.88
9.28
0.07
0.001
0.1
0.020
0.023
Including
78.60
81.55
2.95
0.15
0.001
0.1
0.027
0.029
Including
79.24
80.55
0.31
0.88
0.001
0.1
0.004
0.116
ED-18-014
127.00
128.75
1.75
0.05
0.007
0.6
0.018
0.009
ED-18-015
159.70
201.00
1.85
0.48
0.005
0.1
0.002
0.041
Including
159.70
160.72
1.02
0.55
0.001
0.1
0.002
0.034
And
198.95
201.00
2.05
0.46
0.006
0.4
0.047
0.058
Including
198.95
200.00
1.05
0.52
0.005
0.1
0.015
0.059
And
229.00
230.30
1.30
0.29
0.011
0.1
0.001
0.029
ED-18-017
76.72
77.22
0.50
0.70
0.014
0.1
0.000
0.635
ED-18-018
225.80
226.15
0.35
0.24
0.029
0.1
0.002
0.024
NS2018-01
No Significant Results
NS2018-02
24.00
24.50
0.50
0.15
0.011
0.1
0.014
0.017
NS2018-03
No Significant Results
NS2018-04
33.00
35.00
2.00
0.05
0.011
0.6
0.052
0.016
*All reported widths are drilled core lengths.
About the Kittson-Cobalt Project
The project is located near the town of Cobalt in northeast Ontario, Canada. The Project hosts the historic Edison, Shakt-Davis
and Kittson mines, as well as numerous historic workings, the deepest extending down to 628 feet, and over 2,500 feet of lateral
workings. Cobalt mineralization occurs in Proterozoic-aged quartz-carbonate veins hosted in brittle shears in Nipissing diabase.
This style of mineralization is similar to that of the famous Cobalt Silver Camp located ~15 km east of the Property, which
produced 420 million ounces of silver with cobalt as a significant by-product. Veins hosting the mineralization at the Kittson-
Cobalt Project differ from the typical Cobalt Silver Camp veins in that they are lower in silver but richer in cobalt and are
associated with significant gold. Historic reports from the Shakt-Davis mine indicate values of 1.5% Co over 1.37 metres and
select grab samples returning up to 4% Co and 93.3 g/t Au. Locally significant nickel, copper and to a lesser extend lead, zinc
and bismuth also occur within the quartz-carbonate veins.
About Edison Cobalt Corp.
Edison Cobalt Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and
development of cobalt, lithium and other energy metals. Edison Cobalt's acquisition strategy focuses on acquiring affordable,
cost-effective and highly regarded mineral properties in areas with proven geological potential. The Company's shares are listed
and posted for trading on the TSX Venture Exchange under the symbol "EDDY", the OTC Pinks under the symbol "PWMRF",
and on the Frankfurt Exchange under the symbol "VV0".
The technical content of this news release has been reviewed and approved by Neil Pettigrew, M.Sc., P.Geo., President & CEO
and a director of the Company, and a Qualified Person as defined by National Instrument 43-101.
On behalf of the Board of Directors:
"Neil Pettigrew"
Neil Pettigrew
President & CEO
For more information please contact:
Howard Milne V.P. Business Development
Tel: (604) 377-8994 Email:
Website:
www.edisoncobalt.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.