Cobalt Power Group Reports New Outcrop with Veins on Proteus Property and Structural Analysis of Smith Cobalt East Outcrop
Cobalt Power Group Reports New Outcrop with Veins on Proteus Property and
Structural Analysis of Smith Cobalt East Outcrop
TSX.V: CPO, Pink Sheets: CBBWF
VANCOUVER, Oct. 30, 2017 /CNW/ - Cobalt Power Group Inc. (the "Company") (TSX.V: CPO, OTC
Pink: CBBWF) is pleased to announce that a new outc rop been found on the Proteus property in Cobalt,
Ontario, and that an exploration plan has been approved. Work has already begun, including opening up
trenches and pits, which resulted in the exposing of several veins. These veins have been sampled and
assay results are pending. Additionally, the Company has conducted a 2D seismic survey with the
Mineral Exploration Research Centre (MERC) at Laure ntian University in Sudbury.
"We are excited about the new outcrop and vein show ings on our Proteus concession," comments Dr.
Andreas Rompel, President & CEO. "In order to increase opportunities to detect mineralization, we plan
to continue opening up more strike length along these veins."
The Company also announces completion of a structur al analysis of the Smith Cobalt East outcrop. A
major fault that was detected by the aeromagnetic survey conducted last year has been opened. Details
of the analysis are described below.
Surface Sampling:
Five samples collected from the Temiskaming Project shaft area (one from each side of the shaft and
three from surface immediately adjacent to the shaft) have been submitted for analysis. The zones
sampled are located in NW-trending Keewatin volcanics.
Four historic drill holes (1985 and 1986) appear to undercut this zone. These holes were reported to
intersect significant Au and Ag values (no Co assays were taken). Hole 86-23 intersected 0.58m
at 6.21 g/t Au (0.181 oz/T); hole 86-28 intersected 0.24m at 694 g/t Ag (20.24 oz/T); hole 85-16
intersected 0.25m at 679 g/t Ag (19.79 oz/T) and 0.15m at 428 g/t Ag (12.48 oz/T); hole 86-13 intersected
465 g/t Au over 0.1m (13.55 oz/T). In addition, the geological description of 86-13 mentions 70% cobal t
arsenide in a narrow vein. These intersections all occur in the Keewatin volcanics (rhyolite and
intermediate breccias), close to the upper contact of the Nipissing diabase sill. These intersections are
taken from reports generated by the project operator at the time (Proteus Resources Inc.), and have not
been independently verified by Cobalt Power.
Seismic Survey:
A 2D seismic survey was conducted on October 10 and 11, 2017, as part of a province-wide initiative by
Laurentian University's MERC. SA Explorations, a leading seismic surveying company, performed field
operations. Surveying covered 7.7 km in a general NNW-SSE direction in the northern part of the Smith
Cobalt area. The results are expected to assist in regional and local structural and stratigraphic
interpretations.
Structural Analysis:
A structural analysis completed on the Smith Cobalt East outcrop has yielded a good understanding of
the structural controls for the vein swarms. The f indings on the behaviour of the faults are fundamental to
the understanding of the paragenesis of the geology of the veins and surrounding lithologies. At least five
subvertical calcite vein sets were discovered in the outcrop, the majority of which strike NW-SE, with
smaller sets striking N-S and E-W. Of further note: in this location the mineralization lies in Colema n
sediments above the Nipissing diabase sill (at Smith Cobalt, the sill lies above the sediments).
About Cobalt Power Group Inc.
Cobalt Power Group Inc. is a publicly traded Canadi an 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 total 863.6 hectares (2134 acres) in contiguous and strategic claim bloc ks.
There are several historic mining operations on the properties that are potentially accessible, includ ing
the Smith Cobalt shaft and its underground workings.
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.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed
transaction and has neither approved nor disapprove d 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. 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. Secur ities 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.
SOURCE Cobalt Power Group Inc
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%SEDAR: 00029608E
For further information: Daniel Caamano, V.P. Corporate Communications or J udy A. McCall,
Corporate Secretary at: 604.620.7737. The company's profile may also be viewed on www.sedar.com.
CO: Cobalt Power Group Inc
CNW 09:30e 30-OCT-17