October 2, 2018 (Source) — Edison Cobalt Corp (“Edison Cobalt“ or the “Company“) (TSXV: EDDY) is pleased to announce that the summer prospecting program on their Kittson-Cobalt Property has identified a new Zone of gold-rich cobalt mineralization located approximately 600 metres north of the historic Kittson mine (Click here to view Map).
Neil Pettigrew, President and CEO said: “The discovery of the North Kittson zone confirms the potential for additional zones of cobalt mineralization on the Kittson-Cobalt Property. Four holes from the current drill program have targeted this new zone,assay results of which should be returned soon.“
The new North Kittson Zone is hosted in north-south fractures in diabase, which contain quartz-carbonate veins similar to other known cobalt zones on the property. The north-south trending diabase has several shallow pits and trenches from historic prospecting, but no records remain of this work. Out of a total of 140 samples collected from the North Kittson Zone, ten returned >0.1% cobalt and four returned1% cobalt. Several samples also contained significant gold values including one sample of 7.83 g/t gold. The North Kittson zone is located approximately 600m north of the former Kittson mine, and appears to be hosted by the same north-south fracture zone. The Kittson mine operated from 1927-1930. Production records are sparse, however 600 pounds of smaltite (a cobalt-bearing mineral) was mined from the 580 foot level and gold assays up to 6.86 g/t were also reported. Sampling of the Kittson mine waste pile by the company during the summer exploration program returned up to 11.0 g/t gold, 0.20% cobalt and 9.12% copper (Table 1.).
Table 1. Select North Kittson Zone and Kittson Mine Prospecting Results.
|Sample Number||Zone||Material||Co wt. %||Au g/t||Ag g/t||Cu wt. %||Ni wt. %|
|760085||North Kittson||Waste Pile||2.18||0.219||3.2||0.04||0.28|
|760087||North Kittson||Waste Pile||1.05||0.038||0.6||0.03||0.14|
|760089||North Kittson||Waste Pile||0.44||0.020||0||0||0.07|
|760094||North Kittson||Waste Pile||1.47||0.030||0.8||0||0.11|
|760137||Kittson Mine||Waste Pile||0.09||1.07||2.3||0.08||0.02|
|760183||Kittson Mine||Waste Pile||0.20||11.00||16.3||9.12||0.01|
|760287||North Kittson||Waste Pile||1.12||0.08||1||0.1||0.16|
|760291||North Kittson||Waste Pile||0.12||0.006||0||0.01||0.02|
|760368||North Kittson||Waste Pile||0.20||0.306||0.4||0.6||0.08|
Edison Cobalt’s summer exploration program (see news release August 13, 2018) is ongoing. A total of 2,620 metres (21 holes) have been completed and sent for analysis, geological mapping and prospecting is wrapping up and the program will de-mob by the end of the month. The exploration program aims to delineate the full extent of the fracture system hosting the three historic mines on the Property: Edison, Shakt-Davis, and Kittson mines, as well as investigating the large western claim group acquired in late 2017. Additional results from these programs will be released as they become available.
About the Kittson–Cobalt Project
The Project is located near the town of Cobalt in northeast Ontario, Canada. The Project hosts the historic Edison, Shakt-Davis and Kittson mines, as well as numerous historic 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 ✍15 km east of the Property, which produced 420 million ounces of silver with cobalt as a significant by-product. 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. Historic reports from the Shakt-Davis mine indicate values of 1.5% Co over 1.37 metres and select grab samples returning up to 4% Co and 93.3 g/t Au. Locally significant nickel, copper and to a lesser extend lead, zinc and bismuth also occur within the quartz-carbonate veins.
About Edison Cobalt Corp.
Edison Cobalt Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium and other energy metals in North 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 Company’s shares are listed and posted for trading on the TSX Venture Exchange under the symbol “EDDY”, the OTC Pinks under the symbol “PWMRF”, and on the Frankfurt Exchange under the symbol “VV0”.
The technical content of this news release has been reviewed and approved by Neil Pettigrew, M.Sc., P.Geo., President & CEO and a director of the Company, and a Qualified Person as defined by National Instrument 43-101.
On behalf of the Board of Directors:
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.