Cobalt Power Group Reports 1.7% Cobalt, with Significant Additional Battery Component Metals, from Successful Drill Program at Smith Cobalt Project, Ontario
Cobalt Power Group Reports 1.7% Cobalt, with Significant Additional Battery
Component Metals, from Successful Drill Program at Smith Cobalt Project,
Ontario
/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE U NITED STATES OR OVER UNITED
STATES NEWSWIRES./
TSX.V: CPO, Pink Sheets: CBBWF
VANCOUVER, Nov. 14, 2017 /CNW/ - Cobalt Power Group Inc. (the "Company") (TSX.V: CPO, OTC
Pink: CBBWF) is pleased to report positive results from the Phase 1, 9-hole, 1,896 m (6,220 ft.) drill
program at its Smith Cobalt project in Cobalt, Ontario.
Highlights:
• Several zones with high-grade cobalt and silver we re intersected.
• Thick, highly anomalous zones of battery-related c omponent metals (Cu, Ni, Zn) were intersected in
multiple holes.
• Multiple mineralized veins were intersected in mos t holes.
• Confirmed and characterized vein swarms mapped fro m historical mine workings.
• Confirmed that the Smith Cobalt property lies in t he same stratigraphic and structural setting as the
nearby Deer Horn Mine, owned and formerly operated by Agnico Eagle.
Assay Highlights Include:
• 1.71% Co and 42.5 g/t Ag over 0.10 m in hole 17-03.
• 1.85 g/t Ag over 56.0 m in hole 17-03
• 1.39 g/t Ag over 72.5 m in hole 17-04
• 0.22% Cu over 14.0 m in hole 17-04
• 0.13% Zn over 33.0 m in hole 17-04
• 0.11% Ni over 30.66 m in hole 17-06
• 0.17% Pb over 17.49 m in hole 17-04
"We have attained our primary objective for the drill program: to verify the trace of the vein swarms
mapped from historical mine workings. From the old mine data, we know that cobalt and silver grades
within the veins are highly variable and contain an extreme nugget effect. This has been verified by
extensive outcrop sampling," Chris M. Healey, P.Geo and VP Exploration, comments. "We intersected
several zones with high-grade cobalt and silver. Adding even more potential for this property is the f act
that we encountered zones of base metal mineralizat ion (Cu, Ni, Zn) as well."
A full table of significant intersections is shown below:
Smith Cobalt - Phase 1 Drill Results
Hole # From To Length Grade Element Rock Type
17-01 122.7 123.2 0.5 0.12% Co Cong + vein stockwork
245.00 247.00 2.00 2.09 g/t Ag Mafic volc
244.00 249.00 5.00 0.128 g/t Au Mafic volc
240.00 245.00 5.00 0.10% Cu Mafic volc
228.87 249.00 20.13 0.10% Ni Mafic volc + stockwork
226.36 234.85 8.49 0.12% Ni Mafic volc
17-02 NSV
17-03 113.00 115.15 2.15 0.07% Co Qtz -calc vein in cong
182.00 182.10 0.10 1.71% Co Qtz-calc vein
185.25 185.36 0.11 0.23% Co Qtz-calc vein
148.00 204.00 56.00 1.85 g/t Ag Bedded tuff/dacite/chert
Including 182.00 182.10 0.10 42.5 g/t Ag Qtz-calc vein
184.39 184.49 0.10 15.6 g/t Ag Qtz-calc vein
186.25 186.35 0.10 38.2 g/t Ag Qtz-calc vein
190.43 190.53 0.10 16.0 g/t Ag Qtz-calc vein
148.00 166.00 18.00 0.09% Zn Bedded tuff/dacite/chert
169.00 181.60 12.60 0.10% Zn Bedded tuff/dacite/chert
189.00 200.00 11.00 0.08% Zn Bedded tuff/dacite/chert
17-04 138.25 139.00 0.75 0.13% Co Chert bed
144.78 147.00 2.22 0.03% Co Lamprophyre dyke
193.76 195.70 1.94 0.10% Co Qtz-calc stockwork
194.34 194.63 0.29 0.57% Co Qtz-calc vein
117.00 189.50 72.50 1.39 g/t Ag Bedded tuff/dacite
134.00 152.00 18.00 2.70 g/t Ag Bedded tuff/dacite
Including 138.25 147.66 9.41 3.58 g/t Ag Bedded tuff/dacite
192.00 199.44 7.44 2.52 g/t Ag Qtz-calc stockwork
Including 193.76 194.34 0.58 13.0 g/t Ag Qtz-calc vein
210.83 216.00 5.17 1.01 g/t Ag Tuff + qtz-calc stockwork
136.00 150.00 14.00 0.22% Cu Bedded tuff/dacite
120.00 136.00 16.00 0.25% Zn Bedded tuff/dacite
147.00 180.00 33.00 0.13% Zn Bedded tuff/dacite
Including 119.00 136.49 17.49 0.17% Pb Bedded tuff/dacite
144.78 150.85 6.07 0.25% Pb Bedded tuff/dacite
17-05 118.00 120.00 2.00 0.10% Cu Conglomerate
17-06 114.72 116.37 1.65 0.05% Co Cong + qtz -calc stockwork
180.00 187.66 7.66 1.21 g/t Ag Mafic-um volc
197.10 200.00 2.90 3.16 g/t Ag Conglomerate
157.00 187.66 30.66 0.11% Ni Dacite tuff
17-07 106.20 106.40 0.20 1.74 g/t Ag Cong + chlorite spots
119.00 125.00 6.00 0.07% Cu Cong + chlorite spots
17-08 146.00 147.10 1.10 1.92 g/t Ag Mafic-um volc
163.00 164.00 1.00 6.10 g/t Ag Dacite tuff/chert
174.00 175.85 1.85 2.98 g/t Ag Dacite tuff/chert
197.00 199.00 2.00 1.05 g/t Ag Dacite tuff/chert
138.66 147.10 8.44 0.10% Ni Mafic-um volc
17-09 145.00 145.30 0.30 0.05% Co Dacite tuff
and 13.7 g/t Ag
and >1.0% Cu
The drill contractor was G4 Drilling, Val d'Or. SGS Cochrane provided analytical services for gold (fire
assay), and SGS Burnaby (ICP) for all other elements. Collar details are shown in the tables below. A
Phase 1 drill map can be found on the company websi te: www.cobaltpowergroup.com
Phase 1- Drill Hole Collar Data
Hole # E N Az Dip Depth
17-01 602683 5249597 180 -47 249
17-02 602764 5259414 35 -53 216
17-03 602694 5249412 220 -42 204
17-04 602695 5249412 218 -60 216
17-05 602695 5249413 56 -56 198
17-06 602721 5249256 170 -52 210
17-07 602721 5249256 35 -52 201
17-08 602706 5249287 185 -54 201
17-09 602673 5249260 175 -52 201
"The results of this first round of drilling are encouraging. Not only have we confirmed the presence and
trend of the veins indicated on historic maps of Sm ith Cobalt, but we've also established that they are
mineralized," comments Dr. Andreas Rompel, Presiden t & CEO. "We have intersected significant cobalt
grades as well as base metal grades in copper, nick el and zinc. For confirmation of grade and strike
extent of the veins intersected around the Smith Co balt shaft, we are looking forward to Phase 2 drill
results. These combined results will assist us with the interpretation process needed for the next steps in
the exploration of the Smith Cobalt project and env irons."
Phase 1 drill results were significantly delayed because of anomalous cobalt analyses from one of the
commercial assay standards used, as determined duri ng the QA/QC process. Certified commercial
standards, called Certified Reference Material (CRM), are sample materials with certified assay values
from an independent, accredited laboratory. These s tandards are inserted into the chain of samples at
irregular intervals to check the accuracy of the assaying technique at the laboratory being used. Aft er a
review by the Company's Qualified Person, 55 sample s, each with significant Co values in the initial
testing, were sent to a second laboratory (AGAT) fo r check assays. These results show that, although
the cobalt assays for the standards were incorrect, the results from the core from the two laboratories
were comparable. The Company's QP is now satisfied that the initial results reported for the core
analyses are acceptable, and are therefore reported in this release.
Also, the Phase 2 drill program has recently concluded, with 16 holes drilled for a total of 2,306 m ( 7,556
ft.). Assay results will be reported when received, accepted and reviewed by the Company.
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 year, seeking cobalt
mineralization near Cobalt, Ontario - a region with a long history of silver and associated cobalt
production. Property holdings including the Canadian Cobalt Project and the Coleman Township
properties total approximately 8,544 hectares (21,1 00 acres) in contiguous and strategic claim blocks.
There are several historic mining operations on the properties that are potentially accessible, includ ing
the Smith Cobalt shaft and its underground workings.
Chris M. Healey, P. Geo, 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
"Andreas Rompel"
_________________
Dr. Andreas Rompel, President and CEO
Cobalt Power Group Inc.
www.cobaltpowergroup.com
We seek safe harbor.
Neither TSX Venture Exchange nor its Regulation Ser vices Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts respo nsibility for the adequacy or accuracy of this
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. WARNI NG: 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. Securi ties
Act and applicable state securities laws or an exemption from such registration is available.
Cautionary Statement on Forward-Looking Statement
Certain information contained in this news release, including information as to our strategy, projects,
plans or future financial or operating performance and other statements that express management's
expectations or estimates of future performance, constitute "forward-looking statements". Actual results
may differ materially from those indicated by such statements. All statements, other than historical f act,
included herein, are forward-looking statements that involve various risks and uncertainties. There ca n be
no assurance that such statements will prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
In connection with the forward-looking information contained in this news release, CPO has made
numerous assumptions. While CPO considers these ass umptions to be reasonable, these assumptions
are inherently subject to significant uncertainties and contingencies. Additionally, there are known a nd
unknown risk factors which could cause CPO's actual results, performance or achievements to be
materially different from any future results, performance or achievements expressed or implied by the
forward-looking information contained herein.
A more complete discussion of the risks and uncertainties facing CPO is disclosed in CPO's continuous
disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking
information herein is qualified in its entirety by this cautionary statement, and CPO disclaims any
obligation to revise or update any such forward-looking information or to publicly announce the result of
any revisions to any of the forward-looking informa tion contained herein to reflect future results, events or
developments, except as required by law.
SOURCE Cobalt Power Group Inc
View original content with multimedia:
http://www.newswire.ca/en/releases/archive/November 2017/14/c5617.html
%SEDAR: 00029608E
For further information: please contact Daniel Caamano, VP Corporate Commun ications or Judy A.
McCall, Corporate Secretary at: 604.620.7737. The c ompany's profile may also be viewed on
www.sedar.com.
CO: Cobalt Power Group Inc
CNW 06:00e 14-NOV-17