Canadian Mining Journal


COBALT: First Cobalt makes drill plans for consolidated properties

ONTARIO – First Cobalt Corp. of Toronto has begun prospecting and structural mapping on properties owned by Cobalt One and CobalTech Mining. All three companies have holdings near the town of Cobalt – once premier Canada’s silver producing region –  in Northern Ontario.

The results will be used to plan a winter drilling program in anticipation of the business combination of the three companies.

First Cobalt announced in July 2017 that it would acquire 100% of the share capital of Cobalt One. Then in August, Cobalt One and CobalTech signed a definitive agreement for a merger. The resulting company will have control of one of the most promising cobalt camps in Canada.

First Cobalt already holds about 4,300 hectares of land near the towns of Cobalt and Silver Centre, now collectively known as the Cobalt camp. With the mergers complete, First Cobalt will hold more than 10,000 hectares of prospective land and 40 historic mining operations in the camp.

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