NetworkNewsBreaks – First Cobalt Corp.’s (TSX.V: FCC) (OTCQX: FTSSF) Mineral Resource Estimate Results Bode Well for Iron Creek Project
Vertically integrated North American pure-play cobalt company First Cobalt (TSX.V: FCC) (OTCQX: FTSSF) (ASX: FCC) recently reported the results of its first NI 43-101 Mineral Resource Estimate for its wholly-owned Iron Creek Cobalt Project in Idaho. FTSSF reported Inferred Mineral Resources of 29.6 million tons (26.9 million tonnes) grading 0.11 percent cobalt equivalent, under a base case scenario, and an alternative underground-only scenario indicating 4.9 million tons (4.4 million tonnes) grading 0.30 percent cobalt equivalent (http://nnw.fm/Af2zz). A recent article discussing the results reads, “An “Inferred Mineral Resource” is a concentration of some mineral that appears to have a reasonable prospect for economic extraction and for which the quantity and grade has been estimated on the basis of drilling samples. The geological evidence obtained by First Cobalt points to a resource that contains 45 million pounds (20,411 tonnes) of cobalt and 175 million pounds (79,379 tonnes) of copper for 62.9 million pounds (28,528 tonnes) of cobalt equivalent. This is much more than the company had previously hoped, but it should come as no surprise. The Iron Creek Project had already recorded a historic mineral resource estimate of 1.3 million tons grading 0.59 percent cobalt, albeit one that was non-compliant with NI 43-101, unlike the present results. The company has initiated drilling for an expanded resource estimate that’s expected in early 2019.”
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Vertically integrated North American pure-play cobalt company First Cobalt (TSX.V: FCC) (OTCQX: FTSSF) (ASX: FCC) recently reported the results of its first NI 43-101 Mineral Resource Estimate for its wholly-owned Iron Creek Cobalt Project in Idaho. FTSSF reported Inferred Mineral Resources of 29.6 million tons (26.9 million tonnes) grading 0.11 percent cobalt equivalent, under a base case scenario, and an alternative underground-only scenario indicating 4.9 million tons (4.4 million tonnes) grading 0.30 percent cobalt equivalent (http://nnw.fm/Af2zz). A recent article discussing the results reads, “An “Inferred Mineral Resource” is a concentration of some mineral that appears to have a reasonable prospect for economic extraction and for which the quantity and grade has been estimated on the basis of drilling samples. The geological evidence obtained by First Cobalt points to a resource that contains 45 million pounds (20,411 tonnes) of cobalt and 175 million pounds (79,379 tonnes) of copper for 62.9 million pounds (28,528 tonnes) of cobalt equivalent. This is much more than the company had previously hoped, but it should come as no surprise. The Iron Creek Project had already recorded a historic mineral resource estimate of 1.3 million tons grading 0.59 percent cobalt, albeit one that was non-compliant with NI 43-101, unlike the present results. The company has initiated drilling for an expanded resource estimate that’s expected in early 2019.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
