Cobalt Power Group Inc. (TSX VENTURE:CPO) is pleased to announce positive results from the initial sampling program conducted on its Smith Cobalt property near Cobalt, Ontario. Additionally, the previously announced airborne geophysical survey has been completed and results are pending.
Four select samples were taken from a muck pile (loose ore that has been fragmented as a result of drifting along the veins) originating from historic underground workings on the property and analyzed at SGS Canada Inc. (Burnaby, British Columbia) using 4-acid digestion with an atomic emission spectroscopy finish. Results are summarized below:
Dr. Andreas Rompel, President & CEO of Cobalt Power Group, comments, "Cobalt results confirm the high grades expected in the cobalt/silver veins on the Smith Cobalt property. These grades compare favourably with those found at top cobalt producing mines worldwide. Copper and nickel grades were promising as well and, along with silver, may be converted into additional credits."
The next phase of exploration will include a variety of geophysical surveys as well as prospecting and mapping. Also, quotes will be solicited for opening and reconditioning the Smith Cobalt shaft and related underground workings.
Cobalt Power Group also announces that the proposed sale of the Laurier graphite property has been terminated by Battery Mineral Resources Pty Ltd.
About the Smith Cobalt Properties
The Smith Cobalt properties are underlain by a sequence of Archaean volcanics which are uncomformably overlain by Huronian sediments. These formations have been intruded by the Proterozoic-age Nipissing diabase sill. Faulting, on both a regional and local scale, has been found by surface mapping and in drill cores. Polymetallic veining, and especially pinkish-white carbonate veins, has also been reported. Thus, all the necessary geological components of accepted mineralization models for silver-cobalt have been identified on the properties.