Edison Cobalt Intersects 1.24% Cobalt over 0.35 Meters and 0.20% Cobalt over 4.65 Meters in Diamond Drilling at the Historic Edison Mine on the Kittson-Cobalt Project
Edison Cobalt Intersects 1.24% Cobalt over 0.35 Meters
and 0.20% Cobalt over 4.65 Meters in Diamond Drilling at
the Historic Edison Mine on the Kittson-Cobalt Project
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2018) -
Edison Cobalt Corp
(TSXV:
EDDY
)
(
"
Edison Cobalt
"
or
the "
Company
") is pleased to announce initial results from their summer 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) have been completed during the summer program, results of which have been received for the
first 12 holes. Highlights include hole KIT-18-010 which returned
0.20% Co over 4.65
m
eters
, including 0.34% Co over 2.65
m
eters
and hole KIT-18-012 which returned
0.27% Co over 2.65
m
etres
including 1.24% Co over 0.35
m
eters
and a
separate intercept
of
0.63% Co over 1.00 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 was much wider than was observed at surface, ranging from
7 to 30 metres wide (drilled core length) and hosting 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 0.3
5
meters
.
A full list of significant intersections is
provided in Table 1 below. A drill hole location map, an isometric view and cross section are shown here.
(Click here to view
Map
s and Figures
)
Commenting on the latest results,
Neil Pettigrew
, President and CEO said: "
We're highly encouraged by this
initial drill
program
on the
historic
Edison Mine
. These results represent the first drilling
ever conducted at the Edison Mine
.
"
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-18-001
No Significant Results
ED-18-002
No Significant Results
ED 18-003
No Significant Results
ED-18-004
No Significant Results
ED-18-005
No Significant Results
ED-18-006
No Significant Results
ED-18-007
42.10
45.30
3.20
0.05
0.005
0.3
0.020
0.010
And
66.20
67.38
1.18
0.06
0.006
0.2
0.002
0.005
And
86.50
86.80
0.30
0.13
0.009
0.3
0.006
0.010
ED-18-008
No Significant Results
ED-18-009
No Significant Results
ED-18-010
73.50
78.15
4.65
0.20
0.013
1.2
0.007
0.032
Including
74.50
77.15
2.65
0.34
0.337
1.5
0.008
0.050
Including
74.50
74.85
0.35
0.98
0.015
1.5
0.026
0.123
ED-18-010
95.70
99.00
3.30
0.07
0.005
1.0
0.022
0.017
ED-18-011
22.00
22.40
0.40
0.11
0.044
1.3
0.004
0.000
ED-18-012
144.35
147.00
2.65
0.27
0.000
2.1
0.014
0.022
Including
145.35
145.70
0.35
1.24
0.000
11.4
0.007
0.113
And
156.00
156.40
0.40
0.37
0.000
1.1
0.001
0.018
And
169.00
170.00
1.00
0.63
0.000
0.5
0.026
0.037
*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.