US Cobalt (TSX.V: USCO) (OTCQB: USCFF) this morning reported initial results from its 2018 underground drill program at the Iron Creek project in Idaho. Per the update, all three holes met significant cobalt mineralization, expanding the known mineralization to over 1,700 feet along strike. US Cobalt shareholders recently voted 99.87% in favor of a friendly merger with First Cobalt Corp. (TSX.V: FCC) (OTCQX: FTSSF) which is anticipated to close by the end of May 2018. “We continue to increase the known strike length at the Iron Creek Project as we work towards a maiden resource estimate later this year. US Cobalt has already begun to work closely with First Cobalt ahead of the upcoming close of the recently approved acquisition by First Cobalt. We are pleased by the overwhelming support this transaction has received, and US Cobalt shareholders will benefit from a meaningful position in a leading vertically integrated pure-play North American cobalt company that is fully funded to execute on the 2018 programs,” US Cobalt president Wayne Tisdale stated in the news release.
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About US Cobalt
US Cobalt is focused on the acquisition and development of high grade battery metal deposits in North America. The Iron Creek Cobalt Project, located in the prolific Idaho Cobalt Belt, is the focus of a 40-hole, 35,000 foot (10,700 metre) drill campaign to confirm a 1.3M ton grading 0.59% cobalt historical estimate (non-compliant with NI 43-101) and a Resource Estimate prepared in accordance with NI 43-101 is expected on the project in 2018. For more information, visit the company’s website at www.USCobaltInc.com.
About First Cobalt Corp.
First Cobalt aims to create the largest pure-play cobalt exploration and development company in the world. First Cobalt controls over 10,000 hectares of prospective land covering over 50 historic mines as well as mineral processing facilities in the Cobalt Camp in Ontario, Canada. The First Cobalt Refinery is the only permitted facility in North America capable of producing cobalt battery materials. First Cobalt seeks to build shareholder value through new discovery, mineral processing and growth opportunities, with a focus on North America. For more information, visit the company’s website at www.FirstCobalt.com.
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