Mr. David Schmidt reports
QUANTUM COBALT COMPLETES FIRST PHASE EXPLORATION ON THE KAHUNA PROJECT
Quantum Cobalt Corp. has completed the first phase of exploration at the Kahuna cobalt property.
The first phase of exploration was completed over a 24-day period and included extensive soil sampling,
prospecting and trenching. Soil sampling covered the length of the project area, targeting the Nipissing
Lorrain diabase for cobalt mineralization within calcite veins. Positive results from the soil program in
2017 proved the utility of soils as a method of analysis. The 2018 program was designed to cover the
prospective zones throughout the property, as well as completing infill samples over last year's
anomalies. A total of 775 soil samples and 13 rock grab samples were collected and submitted for assay
to Bureau Veritas in Vancouver, B.C. (ISO/IEC 17025:2005 and ISO 9001:2015).
Of the 13 rock samples collected, 11 returned cobalt values of over 0.4 per cent (detection limit). Two of those samples
also contained 1.068 per cent nickel with 3.4 grams per tonne silver and 1.08 per cent Ni with 7.9 g/t Ag, respectively.
ROCK SAMPLE RESULTS FROM THE 2018 PROGRAM
Sample ID Type Cu ppm Ag g/t Ni % Co % Bi ppm
3216776 Rock 281.50 1.90 0.37 >0.4 1,032.60
3216777 Rock 125.20 3.40 1.07 >0.4 1,159.10
3216778 Rock 155.10 0.80 0.16 >0.4 899.10
3216779 Rock 352.60 1.70 0.20 >0.4 192.60
3216780 Rock 241.60 4.00 0.19 >0.4 1,426.80
3216781 Rock 148.40 1.60 0.17 >0.4 225.10
3216782 Rock 190.80 2.00 0.26 >0.4 316.30
3216783 Rock 98.00 2.10 0.13 >0.4 4,000.00
3216784 Rock 183.40 2.30 0.12 >0.4 412.20
3216785 Rock 449.70 5.40 0.44 >0.4 1,175.80
3216786 Rock 433.90 7.90 1.08 >0.4 1,394.20
3216787 Rock 62.00 0.05 0.00 0.02 3.40
3216788 Rock 71.60 0.05 0.01 0.01 1.40
Preliminary review of results from the soil sampling identified multiple anomalous soil areas, along trend
from historic workings and associated with localized structures. Peak values of up to 1,185.2 parts per million Co,
150.6 ppm Ni, 2,136.12 ppm copper and 1.293 ppm Ag were detected in soils across the property. The
anomalies indicate the potential for further mineralization on the Kahuna property and will help vector
Quantum's exploration going forward. The current exploration permit provisions for IP geophysics, as
well as additional trenching and infill soil sampling.
Rock and soil sample locations were recorded in field notebooks, assay sample tag books and way points
on a Garmin 64s GPS unit. Rock samples were collected into individual 18-inch-by-12-inch poly bags labelled with a
unique seven-character sample ID. A tear-out tag with the barcode and unique sample ID was inserted in the
bag, and the bag sealed with a cable tie in the field. Soil samples were collected from 30-centimetre to 60-centimetre depth
using hand-held geo tools and soil augers. The lower B and upper C horizon was targeted for sampling,
with the depth, soil horizon and colour recorded in field books. Each approximate 200-gram soil sample was placed into
individually labelled Kraft paper bag with the sample tag and the sample number was written across the
bottom. For the soil program, every 20th sample was taken as a field duplicate for quality assurance/quality control.
About the Kahuna cobalt property
The Kahuna cobalt property is located 14 kilometres northeast of the town of Temagami and 37 kilometres south of the town of Cobalt near the eastern border of Ontario. The district is mining friendly, having a rich history of cobalt and silver production. This area is the epicentre of past-producing cobalt mines in Ontario.
Property status and configuration
The Kahuna cobalt property comprises 77 claim units and covers approximately 1,200 hectares.
Access and infrastructure
The property is accessible by boat from Lorrain Lake, which is accessed by 12 kilometres of well-maintained gravel surface roads off of leaving a major paved highway connecting the nearby towns of Temagami and New Liskeard. The property is located 12 kilometres from rail and power distribution lines.
Cobalt and silver mineralization occurs in calcite veins within the Nipissing diabase as erythrite and native silver. The grade of five tonnes of material collected during past production was reported to be 22 per cent cobalt, and an assay of 20 ounces per ton silver was reportedly obtained from a vein on the property.
Friday Mines Ltd. operated the property in the 1920s, sinking a shaft and drifting on a 10-inch-wide calcite vein with cobalt mineralization. Five tonnes of cobalt mineralization were produced with a grade of 22 per cent cobalt. In the 1960s, Gibson Mines explored the property and found cobalt and silver mineralization. An assay of 20 ounces per ton silver was reportedly obtained from a vein as well. More recently, in 1998, a portion of the property was staked and a small soil survey reported cobalt in soil up to 440 parts per million as well as gold-in-soil anomalies.
The historical information for the Kahuna cobalt property provided in mineralization and history was obtained from the mineral deposit inventory report MDI31M04SE00035, the details of which are presented to provide a mineral potential and historical work perspective, and any sampling, analytical or test data underlying the information or opinions have not been verified by a qualified person. The company intends to include check sampling during the current exploration phase.
The company would also like to announce the appointment of David Greenway to the board of
Directors. Mr. Greenway brings more than two decades of experience in managing, financing and
developing growth strategies for various TSX Venture Exchange- and Canadian Securities Exchange-listed
companies, including involvement in acquisitions, business valuations and investor relations. His key
expertise lies in the management and development of junior public resource companies, especially in
the mining and oil and gas sectors. He has held directorships, senior management and business
development positions, including his role as the chief executive officer of Stamper Oil & Gas Corp.,
Veritas Pharma Inc., Chief Consolidated Gold Mines, SNS Silver Corp., Moneta Resources Inc. and
Sterling Mining Company, and his board position in Mountain View Conservation Centre. Mr. Greenway
attended University in Bournemouth, England, where he studied accounting and finance.
The board of directors now consists of David Schmidt, David Greenway, Quinn Field-Dyte and Von
The company has allowed its Grew Creek property to lapse. The company has also allowed the
Musgrove properties to lapse and is currently in negotiation to settle claims arising from the lapse of
royalty payments payable to the original optionor of the properties.
G.S. Davidson, PGeo, is the qualified person as defined in National Instrument 43-101 that has reviewed and approved
the contents of this press release.
We seek Safe Harbor.
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