- Cobalt demand is linked to exponential growth in production of electric vehicles
- Cobalt is forecast to experience increased global demand over the next few decades
- Historic records from three First Cobalt mines show reserves of one million pounds of cobalt
Following the resounding success of its maiden drill program in Cobalt South, First Cobalt Corp. (TSX.V: FCC) (OTCQB: FTSSF) announced on February 21, 2018, that it had commenced drilling in Cobalt North. The new program is centered on the historic Drummond, Kerr and Conisil mines within the Cobalt Camp mining region of northern Ontario, according to a company press release (http://nnw.fm/kE3Tx). In the update, president and CEO of First Cobalt Trent Mell explained that, during the company’s first drill campaign, three distinct cobalt mineralized zones were identified in Cobalt South, and the company will follow up on the discovery. The second leg of the winter drill campaign, in Cobalt North, is based on a rich set of historical data with the company’s own field work to build a 3D geological model. “In Cobalt North, we have several opportunities to identify resources in different styles of mineralization that would not have been considered historically. We believe this program will increase our options to find new cobalt resources in the Camp,” Mell explained in the news release.
The company’s decision to begin drilling in Cobalt North was based on polymetallic mineralization found in muckpile grab samples. These yielded grades of up to 0.65 percent cobalt with 4,990 g/t silver and up to 1.79 percent copper with 56 g/t silver. Historic records from the Drummond, Kerr and Conisil mines show almost one million pounds of cobalt and more than 36 million ounces of silver. These records were from a time when silver was…
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