US Cobalt Inc. is pleased to provide the following progress update on its 2017 exploration and drilling program at its 1,800 acre Iron Creek cobalt property located in the Idaho Cobalt Belt in Idaho, USA.
The Company has completed 20 drill holes in the current program at Iron Creek, and drilling has intersected numerous zones of massive to semi-massive sulfide mineralization in structurally controlled zones close to historical drill holes that reported high-grade cobalt and copper mineralization. Rehabilitation of Adit Number One is complete and sampling has confirmed high grade cobalt mineralization in the underground exposures, as previously announced (see Company news release dated July 31, 2017). Work is ongoing to open and rehabilitate Adit Number Two, with the portal now exposed and rehabilitation of the portal expected within two weeks. The drill core samples for 13 holes have been delivered to the assay lab and final geochemical assays are pending.
Brian Kirwin, Sr. Vice President, Exploration of the Company commented, “We have decided to expand this Phase One drill program given the encouraging visual indicators that have been encountered in the drill core and the very exciting results from the underground sampling of Adit Number One. Numerous zones bearing substantial sulfide mineralization have been encountered over notable widths during our current drilling campaign in the No Name Zone. The sulfide mineralization appears continuous within the primary No Name Zone structural corridor, as well as within several structural zones in the footwall. This type of structurally controlled sulfide mineralization has been shown to contain high grade cobalt mineralization in the Adit Number One underground channel sampling, and in the historical drilling. We are excited to continue the rapid exploration of Iron Creek and to confirm the historical estimates and to expand these zones.”
The Company recently expanded its planned diamond drill program from 30,000 feet to approximately 40,000 feet. The initial drill campaign is designed to confirm the historical estimates of cobalt and copper mineralization on the Iron Creek property. The expanded drill program includes drill holes testing the depth potential of the cobalt mineralization below the historical estimates. A total of 20 holes have been drilled with a combined length of 15,376 feet. The expanded drilling campaign consists of a total of 41 drill holes with a combined length of 40,000 feet. The Company feels there is the potential for the expansion of the known zones based on the results from underground sampling, encouraging sulfide mineralization encountered in the current drilling program, and structural geological interpretation.
Mr. Garry Clark, P. Geo., of Clark Exploration Consulting, is the “qualified person” as defined in NI 43-101, who has reviewed and approved the technical content in this press release.