Return to News Categories

ALL NEWS SECTIONS:
MOST POPULAR SECTIONS:
Commentary and Educational Cattle - Hogs / Livestock News Currencies News Energy News Grain News Index News Interest Futures News Metals Futures News Reports: Crops, CFTC, etc Soft Commodities News

Futures and Commodity Market News

DGAP-News: RETRANSMISSION: Go Cobalt Identifies Cobalt Bloom in Multiple Outcrops and Updates Soil Results

Oct 10, 2018 (EQS Group AG via COMTEX) --

DGAP-News: Go Cobalt Mining Corp. / Key word(s): Miscellaneous
RETRANSMISSION: Go Cobalt Identifies Cobalt Bloom in Multiple Outcrops and Updates Soil Results

10.10.2018 / 13:31
The issuer is solely responsible for the content of this announcement.


Vancouver, British Columbia--(Newsfile Corp. - October 10, 2018) - Go Cobalt Mining Corp. (CSE: GOCO) ('Go Cobalt' and/or the 'Company') is pleased to announce that it has identified visible cobalt mineralization (erythrite or 'cobalt bloom') in multiple outcrops on its 100% owned Copper Cobalt Monster Project (the 'Property') in the Yukon, Canada. The Company is also pleased to announce the results from its first soil geochemical sampling program which indicates the presence of copper and cobalt mineralization extending beneath a wide valley in the east central area of the Monster property.

Highlights:

  • Erythrite (cobalt bloom) mineralization and cobaltite mineralization has been identified by Go Cobalt in multiple locations on the Monster Property (see pictures below).
  • Copper and cobalt showings are present in numerous outcrops across the 18-kilometre strike length of the property (additional maps available at http://www.gocobalt.ca/property.cfm).
  • Copper and cobalt in-soil concentrations are elevated in the central-east valley on the property indicating possible sub-surface mineralization.

40245_a1539114753132_11resize.jpg

Figure 1. Left: Erythrite (Cobalt Bloom), right: 0.5 cm cobaltite crystal with erythrite coating from Sample J26 of the East Cu-Co zone on the monster property. Samples are currently being assayed.

To view an enhanced version of Figure 1, please visit:
http://orders.newsfilecorp.com/files/5946/40245_a1539114753132_11.jpg

Comments

Jaap Verbaas, Ph.D., Vice President Exploration of Go Cobalt comments: 'We are very pleased to have identified cobalt- and copper-bearing minerals during the initial sampling program at our Monster Property. The identification of erythrite, commonly called cobalt bloom is particularly exciting as it commonly indicates the presence of cobaltite (a significant source of cobalt in other deposits). We are expecting to see elevated cobalt values within these samples which will allow us to focus further work on the most prominent zones.'

Rock Sampling Program

As part of the initial sampling program at the Monster Property Go Cobalt has identified and collected samples from multiple locations on the property where visible erythrite mineralization is present. These locations include the East Copper Cobalt Zone, Mark's High Grade showing and the South Cobalt Zone. Further details and descriptions will be provided when the assays are returned from the lab. Many areas also included visible copper mineralization. Assays are expected within the coming weeks and will be released as soon as possible. Future exploration and development of the Monster Property will be based on the results from these samples, and on ongoing modeling work by Go Cobalt.

Soil Sampling Program

Go Cobalt completed a soil sampling survey in 2018 that was designed to test subsurface mineralization on the claim. A total of 829 soil samples were taken and subsequently analyzed for a full suite of elements.

The soil program has highlighted subsurface copper and cobalt mineralization in the central-east portion of the property (Figures 1 and 2 below). A total of 602 samples were taken in the western valley of the detail area, and a total of 193 soil samples were taken in the valley on the eastern edge of the property.

The results highlight the extensive nature of mineralization occurring within and proximal to the large-scale Proterozoic Wernecke Breccia system present on the property. Indicating mineralization does not only occur on high ridges but also continues in the sub surface. The difference between the highest surface showing and the valley bottom is over 500 vertical meters, leaving potential for a large volumes of mineralized rock.

The Property

The Monster Property is a 6,200 Hectare Iron Oxide Copper Gold + cobalt (IOCG-Co) property in the Yukon Territory, north of Dawson City. The property covers a prospective 18-kilometre long segment of the extensive Proterozoic Wernecke Breccia system known to host IOCG style deposits. The Monster area of the Yukon remains highly underexplored even though the style of mineralization on the property is similar to that of the giant Olympic Dam IOCG deposit in Southern Australia. Go Cobalt recognizes the potential for world class deposits in this underexplored area of the world.

40245_a1539114753616_75resize.jpg

Figure 2. Cobalt in soil from 2018 sample program. Eastern section of Monster property. Blue markers are greater than 21.8 ppm Co

To view an enhanced version of Figure 2, please visit:
http://orders.newsfilecorp.com/files/5946/40245_a1539114753616_75.jpg

40245_a1539114753897_42resize.jpg

Figure 3. Copper in soil from 2018 sample program. Eastern section of Monster property. Green markers are greater than 101.2 ppm Cu

To view an enhanced version of Figure 3, please visit:
http://orders.newsfilecorp.com/files/5946/40245_a1539114753897_42.jpg

Methods

The soil geochemical survey was conducted by an exploration services company based out of Whitehorse in the Yukon, samples were collected using soil augers to achieve consistent sample depth. The survey was completed during July and August 2018. Samples were shipped to MS Analytical in Langley, BC for further analyses. Samples were screened with a 150 mesh and analyzed with multi element 20gram Aqua Regia ICP-AES/MS finish. Lab inserted duplicates and standards within the sample batches are consistent and fall within acceptable ranges. Field duplicates are consistent and fall within acceptable ranges, apart from a minority of duplicates in which discrepancies are attributed to different depths, frozen ground or wet clay that might not have been mixed fully prior to duplicate separation.

Qualified Persons

Adrian Smith, P.Geo., is the qualified person for the Company as defined in the National Instrument 43-101 and has supervised the technical information presented within this news release.

About Go Cobalt Mining Corp.

Go Cobalt is a Vancouver based mining exploration company. Go Cobalt seeks to develop exciting and relevant energy metal projects to seize on the demand for energy related materials in a battery powered future.

For further information, please contact:

Scott Sheldon, President
604.725.1857
scott@gocobalt.ca

Forward-Looking Information:

This press release may include 'forward-looking information' (as that term is defined by Canadian securities legislation), concerning the Company's business. Forward-looking information is based on certain key expectations and assumptions made by the Company's management, including future plans for the exploration and development of its mineral properties. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws.

newsinfo.php?i=40248&f=169

Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/40248


10.10.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Go Cobalt Mining Corp.
Canada
ISIN: CA38305R2019

End of News DGAP News Service

732149 10.10.2018

fncls.ssp?fn=show_t_gif&application_id=732149&application_name=news&site_id=comtex

Please read the End User Agreement.
By accessing this page, you agree to the terms and conditions of the End User Agreement.

News provided by COMTEX.

Lt Crude 69.75
Nat Gas 3.198
Corn 366 2/8
Cotton #2 78.46
Gold 1229.6
Copper 2.8240
Euro 1.15950
USD Index 95.235
SP500 E-mini 2777.50
DJIA E-mini 25518
close_icon
open_icon