- Cobalt is a critical element in lithium-ion batteries, which power electric vehicles, smartphones and laptops
- First Cobalt assay results indicate doubled strike length of newly identified mineralized zone in Canadian Cobalt Camp
- Exploration of cobalt production to accelerate following acquisition of U.S. Cobalt property in Idaho
- Cobalt market reached $8 billion in 2016, with global sales of electric vehicles rising by 63 percent in 2017
First Cobalt Corp. (TSX.V: FCC) (OTCQX: FTSSF) is strategically positioning itself as a leading pure-play cobalt exploration and development company as it continues to add historical mineral resource properties to its portfolio. The previously announced acquisition of U.S. Cobalt is poised to expand the company’s assets into Idaho at the Iron Creek Project, which includes a substantial amount of previous exploratory work. This project, located along the most prolific trend of cobalt mineralization in the United States along the Idaho Cobalt Belt, has an historic mineral resource estimate (non-compliant with NI 43-101) of 1.3 million tons grading 0.59 percent cobalt, and shareholders were encouraged to support the proposed acquisition (http://nnw.fm/1TebU).
Overall, the deal adds U.S. Cobalt’s exploration properties in Idaho and Utah to First Cobalt’s 50 mining properties in Cobalt, Ontario, Canada, which also include the only permitted cobalt refinery in North America capable of producing…
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