First Cobalt Corp. (TSX.V: FCC) (OTCQX: FTSSF) Acquires 100 Percent Ownership of Promising Idaho Project amid Domestic Cobalt Sourcing Concerns

September 6, 2018 10:34:10
  • First Cobalt clears obligations through full acquisition to streamline plans for Idaho cobalt resource
  • Company fully funded for all current exploratory projects stretching into next year as it awaits current resource estimate
  • Cobalt demand has soared with worldwide increase in usage of electric vehicles that have cobalt-needy batteries
  • Market tightening expected to continue for cobalt, leading to forecasts of 12,000-metric ton supply gap by 2021

Vertically integrated pure-play cobalt company First Cobalt Corp. (TSX.V: FCC) (OTCQX: FTSSF) (ASX: FCC) is putting the spurs to its strategy of exploring, developing and refining material in North America for sale back into the American battery market amid booming expectations for electric vehicle and numerous other tech device energy needs. The company announced on September 4 that it has acquired 100 percent ownership of its Iron Creek property in the western United States, where historical mineral resource estimates (non-compliant with NI 43-101 standards) of 1.3 million tons grading 0.59 percent cobalt are being expanded upon.

First Cobalt obtained the Iron Creek property last year through the acquisition of US Cobalt, Inc. and, after initial exploratory efforts, accelerated the project to take advantage of the…

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