IDAHO – First Cobalt has extended copper-cobalt mineralization along strike at both its Waite zone and No Name zone, part of its Iron Creek cobalt project in Idaho.
The Toronto-based company is reporting four holes it drilled west of the project’s current resource in 2018. The holes extend the Waite zone 120 metres west along strike and the No Name zone 60 metres west along strike. The company also traced mineralization an additional 150 metres below surface to a total depth of 300 metres. Mineralization remains open down dip and along strike to the west.
The company has also identified a continuous horizon of mineralization between the two zones that extends for 800 metres along strike.
Highlights from the drill program include 13.4 metres grading 0.01% cobalt and 2.22% copper from 149 metres downhole including 3 metres at 4.01% copper in the No Name zone as well as 1.9 metres grading 0.22% cobalt and 3.9% copper from 261 metres downhole including 0.5 metres at 0.47% cobalt and 10.37% copper in the Between zone.
Based on a September 2018 maiden resource, Iron Creek contains 26.9 million inferred tonnes grading 0.08% cobalt and 0.3% copper for 46.2 million lb. cobalt and 176.2 million lb. copper.
Shares of First Cobalt are currently trading at 18¢ with a 52-week range of 14¢ to $1.24. The company has a $59 million market capitalization.
This story first appeared on www.NorthernMiner.com.