Cobalt Power Group announces extensive summer exploration program at Cobalt
Cobalt Power Group announces extensive summer exploration program at Cobalt
Camp, Ontario
TSX.V: CPO, Pink Sheets: CBBWF
TORONTO, June 5, 2018 /CNW/ - Cobalt Power Group Inc. (the "Company") (TSX.V: CPO, OTC Pink:
CBBWF) is pleased to announce the company's exploration program for the summer of 2018 will
commence on June 4 and will continue weather permitting until the end of October. Work will be carried
out on all three of the Company's major claim blocks, the Smith Cobalt, Montreal River West and the
recently acquired Ontario Cobalt block.
"We are excited to build on the geological work and drilling performed last year," comments Greig Hutton,
President & CEO. "The company has further solidified its position in the Cobalt Camp with the addition of
the Ontario Cobalt properties and is planning an aggressive exploration program to develop targets for
continued drilling. The goal of the company is to further develop our assets with focused exploration in
order to make the company a clear choice for investors looking to participate in the increasing market
demand for cobalt."
Highlights
• Cobalt Power is one of the largest landowners in the Cobalt and Silver Center camps of Ontario,
holding over 11,680 ha (28,862 acres).
• Cobalt Power Groups claims are contiguous with First Cobalt assets and are located within the
"fairway" of the Cobalt Camp, along the trend of the Cross Lake Fault and the Montreal River Fault
• Geological setting of the Properties exhibits all of the critical features for Co-Ag mineralization in the
region (Nipissing diabase sills and dykes, Coleman member sediments and major regional faulting).
• The Company is fully funded for all exploration expenses planned for this year
• The exploration program will include a complete helicopter-borne geophysical survey on all the
company's properties in the Cobalt region, including the Ontario Cobalt properties (2,944 ha, 7,275
acres) acquired in February 2018
• Of particular interest in the new acquisitions are the Silver Eagle Mine property and the McMahon
occurrence on the historic Labine-McMahon claims, part of the Montreal Block property
• On the ground the company will be carrying out extensive mapping and sampling surveys which, in
combination with the airborne magnetometer survey, will help to develop targets for drilling
Geological Setting
The Company's properties in the Cobalt Camp are underlain by a sequence of Archaean volcanics which
are uncomformably overlain by Huronian sediments. These formations have been intruded by the
Proterozoic-age Nipissing diabase sill. Faulting, on both a regional and local scale, has been found by
surface mapping and in drill cores. Polymetallic veining, and especially pinkish-white carbonate veins, has
also been reported. Thus, all the necessary geological components of accepted mineralization models for
silver-cobalt have been identified on the properties.
In addition to the historic mines on the Smith Cobalt property, there are several significant cobalt
occurrences found on the Montreal River West claims - all reported in the Ontario Mineral Deposit
Inventory (MDI) files:
• Labine-McMahon showing (MDI31M04NE00054) - samples collected from a quartz-carbonate vein
adjacent to an aplite dike contain cobaltite, arsenopyrite and bismuthinite. A sample of wall rock
adjacent to a ¾" wide quartz-carbonate vein assayed 1.10% Co and 0.21% Ni. Sample was
collected in 1956 and assayed by the Cobalt Resident Geologist.
• Friday Creek showing (MDI31M04NE00047) - government reports show "a 20cm quartz-calcite
veins with 17 g/t Ag, in Nipissing diabase."
• The Silver Eagle mining lease Ontario Mineral Resource Circular No10, Silver Cobalt Calcite Vein
Deposits of Ontario, 1968). Located on this property, the Silver Eagle mine (which operated around
1918) produced 8,000 ounces of silver from a 6-meter section of mine workings that crossed the
property from the adjacent Wettlaufer Mine (cobalt was not recovered, as was typical for that
era). Geological mapping shows the claim to be underlain by the Nipissing diabase sill in contact
with "undifferentiated" intermediate to mafic volcanics, basalts and pillow lavas. This is the classic
setting for Cobalt Camp mineralization.
About Cobalt Power Group Inc.
Cobalt Power Group Inc. is a publicly traded Canadian exploration company listed on the TSX-Venture
Exchange and U.S. Pink Sheets (TSX-V: CPO, OTC Pink: CBBWF) focused on cobalt exploration and
development.
The Company has made a series of strategic property acquisitions over the past two years, seeking
cobalt mineralization near Cobalt, Ontario - a region with a long history of silver and associated cobalt
production. Property holdings total approximately 11,680 hectares (28,861 acres) in contiguous and
strategic claim blocks. There are several historic mining operations on the properties that are potentially
accessible, including the Smith Cobalt shaft and its underground workings.
Qualified Person
Chris M. Healey, P. Geo, VP Exploration and a Director of Cobalt Power Group is the qualified person
responsible for the technical content of this release, and consents to its dissemination.
On behalf of the Board of Directors
"Greig Hutton"
Greig Hutton, President and CEO
Cobalt Power Group Inc.
www.cobaltpowergroup.com
We seek safe harbor.
The company's profile may also be viewed on www.sedar.com.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed
transaction and has neither approved nor disapproved the contents of this press release.
Forward Looking Information
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of the content of this News Release. WARNING: The Company relies on litigation protection for
"forward looking" statements. Actual results could differ materially from those described in the news
release as a result of numerous factors, some of which are outside the control of the Company. This
news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in
the United States. The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not
be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities
Act and applicable state securities laws or an exemption from such registration is available.
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For further information: Glenda Kelly, Investor Communications at: 403-830-1436
CO: Cobalt Power Group Inc
CNW 08:00e 05-JUN-18