Vancouver, British Columbia--(Newsfile Corp. - January 22, 2019) - Edison Cobalt Corp (TSXV: EDDY) ("Edison Cobalt" or the "Company") is pleased to announce the completion of their summer-fall exploration program on their Kittson-Cobalt Project, located in the prolific Cobalt Silver Camp in Northeast Ontario, Canada. The program ran from June to October and consisted of extensive geological mapping, prospecting, soil sampling and diamond drilling which is summarized in this release.
A total of 360 prospecting samples were collected during this program, highlights (>1% Cobalt) are listed in Table 1 below. These included the first prospecting samples collected from the recently acquired historic Edison mine (see News Release May 30th, 2018) which returned up to 6.13 % cobalt (see News Releases September 11th and 25th, 2018). A new zone, North Kittson was also discovered approximately 500 meters north of the historic Kittson mine with prospecting samples returning up to 2.18 % cobalt and significantly up to 7.83 g/t gold (see New Release October 2nd, 2018).
Geological mapping also confirmed that the Shakt-Davis and Edison mines are hosted on the same east-west trending fracture zone and this that fracture zones extends for >1.5 kilometers. A full 34 % of the prospecting samples collected along this fracture retuned >0.1 % cobalt and 16 % returned >1 % cobalt (see New Release September 25th, 2018).
Table 1. Prospecting Highlights from the Summer-Fall program (samples >1% cobalt).
|Sample Number||Zone||Material||Co wt. %||Au g/t||Ag g/t||Cu wt. %||Ni wt. %|
|469011||Edison Mine||Waste Pile||2.36||0.35||10.3||0.08||1.39|
|469012||Edison Mine||Waste Pile||6.13||0.17||0.9||0.01||2.22|
|469014||Edison Mine||Waste Pile||2.09||0.00||0.1||0.00||0.13|
|469016||Edison Mine||Waste Pile||1.02||0.01||0.1||0.00||0.07|
|760023||Edison Mine||Waste Pile||2.45||0.02||0.9||0.03||0.17|
|760064||Edison Mine||Waste Pile||2.90||0.00||0.3||0.00||0.09|
|760067||Edison Mine||Waste Pile||1.69||0.00||0.4||0.00||0.07|
|760073||Edison Mine||Waste Pile||1.02||0.00||1.3||0.00||0.06|
|760157||Edison Mine||Waste Pile||1.06||0.01||1.3||0.22||0.09|
|760162||Edison Mine||Waste Pile||4.10||0.01||0.6||0.00||0.17|
|760165||Edison Mine||Waste Pile||1.15||0.01||0.1||0.00||0.10|
|760085||North Kittson||Waste Pile||2.18||0.22||3.2||0.04||0.28|
|760087||North Kittson||Waste Pile||1.05||0.04||0.6||0.03||0.14|
|760094||North Kittson||Waste Pile||1.47||0.03||0.8||0.00||0.11|
|760287||North Kittson||Waste Pile||1.12||0.08||1.0||0.10||0.16|
*Previously reported (see New Releases September 11th and 25th 2018)
A total of 2,620 metres (21 holes) were completed during the program. This drilling represented the first exploration on the historic Edison mine in over 100 years. Highlights include 0.34% cobalt over 2.65 metres including 0.98% cobalt over 0.35 meters in hole ED-18-010 (see News Release October 23rd, 2018) and 0.46% cobalt over 2.05 meters in hole ED-18-015 (see News Release January 14, 2019).
The drill program successfully intersected the fracture zone that hosts the Edison mine mineralization. The fracture zone was much wider than was observed at surface, ranging from 7 to 30 metres wide (drilled core length) 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 0.35 meters. Highlights from the program are provided in Table 2 below. Drill hole location map, an isometric view and cross sections are shown here. (Click here to view Maps and Figures from 2018)
Commenting on the Summer-Fall program, Neil Pettigrew, President and CEO said: "The recent exploration program was highly successful. A new zone, North Kittson was discovered and the results from the Edison mine represent the first exploration in over 100 years on this property. Planning is currently underway for a winter drill program to follow up on the 2018 results from both Shakt-Davis and Edison mines"
Table 2. Diamond Drilling Highlights from 2018 Summer-Fall Exploration Program.
|Hole Number||From (Metres)||To (Meters)||Width (Meters)||Co wt. %||Au g/t||Ag g/t||Cu wt.%||Ni wt. %|
*All reported widths are drilled core lengths
**previously reported (see News Releases October 23rd and January 14, 2018)
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:
President & CEO
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.