First Cobalt extends Iron Creek mineralization by 150 metres

By Canadian Mining Journal Staff / March 07, 2019 / www.mining.com / Article Link

First Cobalt Corp. of Toronto has drilled its deepest hole to date at the Iron Creek cobalt project between Challis and Salmon. The hole reached a depth of 611 metres and confirmed that mineralization in the No Name zone extends a further 150 metre down dip.

The No Name zone has now been traced to 300 metres down dip in the central area of the deposit and 400 metres in the west.

Hole ICS18-28 returned broad intercepts such as 12.0 metres of 0.20% cobalt, including 3.9 metres of 0.35% (true width). The same hole in the footwall returned 0.21% cobalt over 1.4 metres. The hole also intersected high grade copper mineralization - 1.22% over 1.0 metre (true width) - 150 metres deep in the hanging wall.

First Cobalt has arranged a $2-million non-brokered private placement of 11.1 units at a price of $0.18 per unit. Each unit consists of one common share and one share purchase warrant at a price of $0.27 each for a period of two years. The company intends to use the proceeds to support ongoing work at its refinery in Cobalt, Ont.

(This article first appeared in the Canadian Mining Journal.)

Recent News

Another 'Bubble Check' for the gold sector

September 08, 2025 / www.canadianminingreport.com

Gold stocks continue to hit new highs

September 08, 2025 / www.canadianminingreport.com

Some mining stocks exposed to Burkina Faso take major hit

September 02, 2025 / www.canadianminingreport.com

Gold stocks again hit new highs

September 02, 2025 / www.canadianminingreport.com

Gold stocks reach new highs on metal price gain

August 25, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok