Edison Cobalt Reports up to 5.79% Cobalt in Additional Prospecting on the Historic Thomas Edison Mine
Edison Cobalt Reports up to 5.79% Cobalt in Additional
Prospecting on the Historic Thomas Edison Mine
Vancouver, British Columbia--(Newsfile Corp. - September 25, 2018) -
Edison Cobalt Corp
(TSXV:
EDDY
)
(
"
Edison Cobalt
"
or
the "
Company
") is pleased to announce additional prospecting from the historic Thomas Edison mine and along the fracture
zone that hosts the Thomas Edison mine and Shakt-Davis mine, located ~1 km to the west.
(Click here to view Map)
(
http://edisoncobalt.com/figures-from-press-releases/
).
Neil Pettigrew, President and CEO said:
"
The
Fracture zone which hosts both the Shakt-Davis and
Thomas Edison Mine
s
was traced over
a
strike length >1.5 kilometers during the summer mapping program. We are highly encouraged by the fact
that 1/3 of the prospecting samples collected along this fracture zone returned >0.1% cobalt
,
which demonstrates that the
fracture zone hosts significant cobalt mineralization
."
To date a total of 167 samples (32 in 2017 and 135 in 2018) have been collected from the fracture zone that hosts the Shakt-
Davis and Thomas Edison mines. Of the 167 samples collected 34% returned 0.1% cobalt and 16% returned >1% cobalt,
confirming the fracture zone hosts significant cobalt mineralization. Significant results (>0.5% cobalt) from the 2017 summer
prospecting program targeting the Shakt-Davis/Thomas Edison fracture zones are tabulated in Table 1.
Table 1.
Shakt-Davis/Thomas Edison Fracture Zones Prospecting Results.
Sample
Number
Material
Co wt.
%
Au
g/t
Ag
g/t
Cu wt.
%
Ni wt.
%
Pb wt.
%
Zn wt.
%
Bi wt.
%
469011
Waste Pile
2.36
0.35
10.3
0.08
1.39
1.37
0.01
4.41
469012
Waste Pile
6.13
0.17
0.9
0.01
2.22
0.01
0.01
0.07
469014
Waste Pile
2.09
0.00
0.1
0.00
0.13
0.01
0.01
0.02
469016
Waste Pile
1.02
0.01
0.1
0.00
0.07
0.01
0.01
0.02
760003
Waste Pile
0.50
0.04
2.9
0.01
0.76
0.00
0.02
0.41
760023
Waste Pile
2.45
0.02
0.9
0.03
0.17
0.00
0.00
0.01
760061
Waste Pile
0.78
0.01
0.1
0.00
0.04
0.00
0.00
0.00
760062
Waste Pile
0.67
0.00
0.1
0.00
0.03
0.00
0.00
0.00
760063
Waste Pile
0.75
0.00
0.1
0.00
0.04
0.00
0.00
0.00
760064
Waste Pile
2.90
0.00
0.3
0.00
0.09
0.00
0.00
0.01
760067
Waste Pile
1.69
0.00
0.4
0.00
0.07
0.00
0.01
0.01
760068
Outcrop
0.64
0.00
0.1
0.00
0.03
0.00
0.00
0.00
760072
Waste Pile
0.58
0.00
0.9
0.02
0.05
0.01
0.02
0.03
760073
Waste Pile
1.02
0.00
1.3
0.00
0.06
0.00
0.01
0.01
760103
Outcrop
0.55
0.00
0.1
0.00
0.03
0.00
0.00
0.00
760104
Outcrop
1.24
0.01
1.7
0.01
0.07
0.01
0.00
0.01
760111
Outcrop
0.51
0.00
0.1
0.01
0.06
0.00
0.01
0.00
760113
Outcrop
0.62
0.00
0.1
0.00
0.07
0.00
0.00
0.00
760114
Outcrop
5.79
0.18
0.9
0.00
1.99
0.00
0.00
0.06
760152
Waste Pile
0.54
0.01
0.1
0.00
0.06
0.00
0.01
0.00
760157
Waste Pile
1.06
0.01
1.3
0.22
0.09
0.01
0.00
0.02
760162
Waste Pile
4.10
0.01
0.6
0.00
0.17
0.00
0.00
0.02
760165
Waste Pile
1.15
0.01
0.1
0.00
0.10
0.00
0.00
0.02
760166
Waste Pile
0.68
0.01
0.1
0.01
0.13
0.00
0.00
0.01
760167
Waste Pile
0.55
0.02
0.4
0.02
0.07
0.00
0.00
0.00
760178
Waste Pile
0.99
0.03
5.0
0.23
0.06
0.01
0.01
0.01
Grey Italicized assays were previously reported (see News Release September 11
th
, 2018)
Exploration Update
Edison Cobalt's summer exploration program (see news release August 13, 2018) is ongoing.
A total of 2,620 metres (21
holes) have been completed and sent for analysis, extensive geological mapping and prospecting will continue till mid-fall. The
Exploration Program aims to delineate the full extent of the fracture system hosting the three historic mines on the Property:
Thomas Edison, Shakt-Davis, and Kittson mines, as well as within the large western claim group acquired in late 2017.
Additional results from these programs will be released as they become available.
About the Kittson-Cobalt Project
The Project is located near the town of Cobalt in northeast Ontario, Canada. The Project hosts the historic Thomas 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 in North and South America. Edison Cobalt' 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.