Mr. Neil Pettigrew reports
EDISON COBALT INTERSECTS 1.24% COBALT OVER 0.35 METERS AND 0.20% COBALT OVER 4.65 METERS IN DIAMOND DRILLING AT THE HISTORIC EDISON MINE ON THE KITTSON-COBALT PROJECT
Edison Cobalt Corp. has released initial results from its summer diamond drilling program targeting the historic Edison mine area of its Kittson-Cobalt project, located in the prolific cobalt silver camp in Northeast Ontario, Canada.
A total of 2,620 metres (21 holes) have been completed during the summer program, results of which have been received for the first 12 holes. Highlights include hole KIT-18-010 which returned 0.20 per cent cobalt over 4.65 metres, including 0.34 per cent Co over 2.65 metres, and hole KIT-18-012, which returned 0.27 per cent Co over 2.65 metres including 1.24 per cent Co over 0.35 metre, and a separate intercept of 0.63 per cent Co over one metre.
The program successfully intersected the fracture zone that hosts the Edison mine mineralization over a strike length of about 150 metres and to a maximum depth of about 175 metres. The fracture zone was much wider than was observed at surface, ranging from seven to 30 metres wide (drilled core length) and hosting several 0.1-to-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 per cent cobalt over 0.35 metre. A full list of significant intersections is provided in the attached table.
Commenting on the latest results, Neil Pettigrew, president and chief executive officer, said: "We're highly encouraged by this initial drill program on the historic Edison mine. These results represent the first drilling ever conducted at the Edison mine."
DIAMOND DRILLING HIGHLIGHTS
Hole No. From (metres) To (metres) Width (metres) Co wt % Au g/t Ag g/t Cu wt % Ni wt %
ED-18-001 No significant results
ED-18-002 No significant results
ED 18-003 No significant results
ED-18-004 No significant results
ED-18-005 No significant results
ED-18-006 No significant results
ED-18-007 42.10 45.30 3.20 0.05 0.005 0.3 0.020 0.010
And 66.20 67.38 1.18 0.06 0.006 0.2 0.002 0.005
And 86.50 86.80 0.30 0.13 0.009 0.3 0.006 0.010
ED-18-008 No significant results
ED-18-009 No significant results
ED-18-010 73.50 78.15 4.65 0.20 0.013 1.2 0.007 0.032
Including 74.50 77.15 2.65 0.34 0.337 1.5 0.008 0.050
Including 74.50 74.85 0.35 0.98 0.015 1.5 0.026 0.123
ED-18-010 95.70 99.00 3.30 0.07 0.005 1.0 0.022 0.017
ED-18-011 22.00 22.40 0.40 0.11 0.044 1.3 0.004 0.000
ED-18-012 144.35 147.00 2.65 0.27 0.000 2.1 0.014 0.022
Including 145.35 145.70 0.35 1.24 0.000 11.4 0.007 0.113
And 156.00 156.40 0.40 0.37 0.000 1.1 0.001 0.018
And 169.00 170.00 1.00 0.63 0.000 0.5 0.026 0.037
* All reported widths are drilled core lengths.
About the Kittson-Cobalt project
The project is located near the town of Cobalt in Northeastern Ontario, Canada. The project hosts the historical Edison, Shakt-Davis and Kittson mines as well as numerous historical 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 approximately 15 kilometres east of the property, which produced 420 million ounces of silver with cobalt as a significant byproduct. 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. Historical reports from the Shakt-Davis mine indicate values of 1.5 per cent cobalt over 1.37 metres and select grab samples returning up to 4 per cent cobalt and 93.3 grams per tonne gold. Locally significant nickel and copper as well as, to a lesser extent, lead, zinc and bismuth also occur within the quartz-carbonate veins.
About Edison Cobalt Corp.
Edison Cobalt is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium and other energy metals in North America and South America. Edison Cobalt's acquisition strategy focuses on acquiring affordable, cost-effective and highly regarded mineral properties in areas with proven geological potential.
The technical content of this news release has been reviewed and approved by Mr. Pettigrew, MSc, PGeo, a qualified person as defined by National Instrument 43-101.
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