CENY COBA Several areas of mineralization identified with grades of up to: 17% Cu, 0.15% Co, 27.7 g/t Au and 2690 g/t Ag
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CEO: Results From “Previously Unknown Prospects” Will Shape 2019 Exploration Campaign; UAV Magnetics Survey Planned
LOS ANGELES, Feb. 19, 2019 (GLOBE NEWSWIRE) -- Century Cobalt Corporation (OTCQB: CCOB) ("Century Cobalt" or the "Company"), a publicly traded Cobalt exploration based in Century City, CA, announced the preliminary results from its 2018 exploration program in the Idaho Cobalt Belt.
“Although we kick-started our exploration program fairly late in the season, I am delighted with the progress that we made, and where it puts us as we move into 2019,” said President and CEO Alex Stanbury. “During the 2018 campaign, the location of two known historic mineral prospects on our property were confirmed and sampled. In addition, a number of previously unknown prospects were also discovered by our exploration team and sampled.”
By 2018 year-end the Century field crew had collected more than 800 soil samples and 150 rock samples, with the majority of the samples being sent off for analysis to ALS Labs in Reno (NV). “The interim results of the analyses are back, and our exploration team are busy reviewing them internally to effectively plan our work program for 2019,” Stanbury commented.
Some of the most promising results so far including a few images of samples collected from the various prospects is presented below in this release.
Rock Samples
Landvik Prospect Area: This prospect is characterised by secondary copper mineralisation in the soils. Float samples associated with the soil anomaly are characteristically weathered dark red-purple.
- 0.15% Co, 3.27 g/t Au, 27.7 g/t Ag, 4.38% Cu
- 149 ppm Co, 12.9 g/t Au, 162 g/t Ag, 1.22% Cu
- 255 ppm Co, 4.89 g/t Au, 80.3 g/t Ag, 17.15% Cu
- 337 ppm Co, 1.2 g/t Au, 62.2 g/t Ag, 16.85% Cu
Fawn Creek Prospect Area: This is a known (historic) polymetallic prospect located on the brow of a steep hillside within the Panther Creek valley. An old adit marks the location of the prospect Samples taken from around the adit are commonly “copper stained” with malachite.
- 6.93 g/t Au, 2690 g/t Ag, 2.62 % Cu, 5.53% Pb, 3.54% Zn
- 0.769 g/t Au, 522 g/t Ag, 13.15% Pb, 12% Zn
Soils Samples
Dummy Creek North Prospect Area: The Dummy Creek ‘Copper’ Prospect is a known historic prospect within the licence area. It is characterised by iron-stained rocks that can be traced for over 400m.
- 0.116% Co, 11 ppm Cu and 299 ppm As
Landvik Prospect Area: (Described earlier)
- 1.53% Cu, 0.2 g/t Au, 5.8g/t Ag and 1430 ppm As
- 0.99% Cu, 5 g/t Ag and 1630 ppm As
- 0.63% Cu, 0.188 g/t Au, 1.5g/t Ag and 1320 ppm As
- 0.28% Cu, 0.28 g/t Au, 13g/t Ag and 2180 ppm As
Polymetallic mineralisation
Initial exploration and assay results confirm the potential for cobalt mineralisation within the licence, but also for copper (Cu), gold (Au), silver (Ag), zinc (Zn) and lead (Pb).
Alex Stanbury, President and CEO commented: “Whilst Century Cobalt Corp is a very much a cobalt focused company, these results cannot be ignored as they suggest the potential for other styles of mineralisation within the licence area and will be investigated further.”
2019 Exploration Campaign
The Company has recently completed a Satellite Thermal Study over its entire licence area, the results of which will be integrated into the company’s geological database and combined with the soil and rock samples to further define areas of interest.
To commence the Company’s 2019 exploration program, a drone-mounted Magnetic Survey is planned in the coming months that will further enhance the Company’s growing understanding of the geology, structure and mineral potential of the licence area.
With a busy 2019 season ahead, the Company anticipates following up on a number of the promising targets generated so far, to identify those that warrant further investigation by trenching and drilling.
In conclusion, President and CEO Alex Stanbury commented, “With the continued long term global interest in battery metals, predominantly driven by the EV market, we look forward to developing our claims with the ultimate aim of finding an economic cobalt deposit to supply end users with a conflict-free source of metal. I would like to thank the Idaho team for all their hard work and thank my shareholders for the support given over the last 12 months.”
About the property:
Century Cobalt’s, acreage, known as the “Emperium Cobalt Project,” totals 13,900 Acres/5,625 Hectares, making it larger than the combined land claims of the 5 largest publicly traded companies currently active in the Idaho Cobalt Belt.
The project is located approximately 16 miles (26 km) southwest of Salmon, Idaho.
Property Facts:
- The Idaho Cobalt Belt is a northwest-southeast trending belt of cobalt- and copper-bearing mineral deposits and prospects.
- The belt is at least 40 miles long (64 km) and up to 6 miles (10 km) wide.
- Between 1902 and 1968, millions of tons of ore were mined in the Idaho Cobalt Belt within the Blackbird Mining area.
- Total past production from the Blackbird Mine (to the immediate west of the Emperium Cobalt Project) was roughly 2.4 million tons of ore containing 19 thousand tons of cobalt, with the mine reaching its maximum production in 1958 at annual output of 2,000 tons cobalt.
- As the only primary cobalt mine in the US to date, the mine site became a superfund site and was cleaned up in the 1990s.
About Century Cobalt:
Century Cobalt Corp. was created to focus on identifying, assessing and developing high-potential, economic, early-stage cobalt production opportunities in North America to take advantage of growing demand for secure, ethically-sourced conflict-free cobalt supplies.
The Company currently holds a 100% interest in 695 lode claims in America's largest and most prolific cobalt mineralization trend: the Idaho Cobalt Belt.
Cobalt production to date is heavily influenced by very large companies, often focused on other mining sectors due to most of the world's cobalt being mined as a by-product of large-scale copper or nickel operations. Century Cobalt Corp. is solely focused on primary cobalt deposits, where the main metal mined is cobalt.
By targeting domestic cobalt sources and utilizing local infrastructure and expertise, the Company has the potential to establish secure cobalt production within a stable political and economic climate.
For a detailed overview on the Company and its property please visit: www.centurycobalt.com
Century Cobalt YouTube Channel:
www.youtube.com/channel/UC4sX-phkxTfnuEcSCs9y9GA
The information in the report related to exploration results has been reviewed by Richard Belcher. Dr Belcher is a Chartered Geologist (CGeol) with the Geological Society of London and a Competent Person for the Emperium project.
Forward-looking Statements:
This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Potential risks and uncertainties include such factors as uncertainty of consumer demand for the Company's products, as well as additional risks and uncertainties that are identified and described in the Company's SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
Contact:
Century Cobalt Corp.
10100 Santa Monica Boulevard,
Century City, Los Angeles
California, CA 90067
TOLL FREE IR LINE: 1-800-856-8417
EMAIL: ir@centurycobalt.com
WEB www.centurycobalt.com
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/300dd022-dc53-4784-aef4-09aa89de5bed
