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Edison Cobalt Corp
Symbol EDDY
Shares Issued 70,803,998
Close 2018-10-22 C$ 0.075
Market Cap C$ 5,310,300
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Edison Cobalt drills 4.65 m of 0.2% Co at Kittson

2018-10-23 09:12 ET - News Release

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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