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 Mines 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.
|Material||Co wt. |
|Cu wt. |
|Ni wt. |
|Pb wt. |
|Zn wt. |
|Bi wt. |
Grey Italicized assays were previously reported (see News Release September 11th, 2018)
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:
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.