Final results from Edison Cobalt Corp.’s (TSXV:EDDY) summer drill program at the historic Edison mine are highly encouraging
SmallCapPower | January 25, 2019: Edison Cobalt Corp. (TSXV:EDDY) Tuesday reported encouraging drill results for the final 8 holes of the 21-hole, 2,620m Summer-Fall 2018 drill program at the historic Edison Mine. Results from the first 12 holes were released on Oct. 23. These results are significant, as the Edison mine has not seen exploration since 1907.
Drill result highlights from the final 8 holes were highlighted by Hole 18-013, which returned 0.07% Co over 9.28m, which included 0.88% Co over 0.31m. Other highlights include Hole 18-015, which returned 0.48% Co over 1.85m, including 0.55% Co over 1.02m, and 0.46% Co over 2.05m. For reference, highlights from the previously-released 12 holes included Hole 18-010, which returned 0.20% Co over 4.65m, including 0.34% Co over 2.65m, and Hole 18-012, returning 0.27% Co over 2.65m, including 1.24% Co over 0.35m.
Table: Select drill hole results from the Summer-Fall 2018 drilling program at Edison mine
Source: Press releases
The Summer-Fall drilling program successfully intersected the fracture zone hosting the Edison Mine mineralization over 150m strike and 175m dip. Spanning 7-30m wide (drilled core length) the fracture zone hosts several 0.1 – 2.0m quartz-carbonate veins and both vein and fracture controlled cobalt mineralization in the form of smaltite and erythrite, with values as high as 1.24% Co over 0.35m.
Figure 1: Location of select drill holes
Source: Press release
With the acquisition of the historic Thomas Edison Mine in June 2018, Edison Cobalt has 100% interest in all three past-producing mines on the Kittson-Cobalt property. The mine was named after America’s greatest inventor and business man, Thomas Edison, who developed the mine for cobalt in the early 1900s for use in his cobalt-iron battery. As indicated by the recent name change to Edison Cobalt from Power Metals, the Company’s main focus plans to be the Edison mine.
Located at the center of the Kittson-Cobalt property and 1km to the east of the Shakt-Davis mine, the Edison mine consists of one 16 hectare patented claim with surface and mineral rights and expands the total land package of Kittson to 4,440 hectares, consisting of 216 unpatented claims and 1 patented claim.
Since the acquisition, the Edison Mine has been the principal exploration focus of EDDY, highlighted by the completion of the Summer-Fall drilling and prospecting program with grab samples up to 6.13% cobalt (Table 2.). Apart from hectic activity on this mine, the Company continues undertaking drilling and prospecting at the other two mines – Kittson and Shakt-Davis. A regional mapping and prospecting program is underway on the larger Kittson Cobalt project to delineate the full extent of the fracture system that hosts the three mines. As part of this, Edison Cobalt recently (October 2, 2018) identified a new gold-rich cobalt mineralization zone ~600m north of the historic Kittson mine, named North Kittson. This new zone is highlighted by 10 samples returning >0.1% cobalt, four returning >1% cobalt, and one sample returning 7.83 g/t gold (Table 2., Figure 2.).
Table 2. Prospecting Highlights from the Summer-Fall prospecting (samples >1% cobalt).
|Sample Number||Zone||Material||Co wt. %||Au g/t||Ag g/t||Cu wt. %||Ni wt. %|
|469011||Edison Mine||Waste Pile||2.36||0.35||10.3||0.08||1.39|
|469012||Edison Mine||Waste Pile||6.13||0.17||0.9||0.01||2.22|
|469014||Edison Mine||Waste Pile||2.09||0.00||0.1||0.00||0.13|
|469016||Edison Mine||Waste Pile||1.02||0.01||0.1||0.00||0.07|
|760023||Edison Mine||Waste Pile||2.45||0.02||0.9||0.03||0.17|
|760064||Edison Mine||Waste Pile||2.90||0.00||0.3||0.00||0.09|
|760067||Edison Mine||Waste Pile||1.69||0.00||0.4||0.00||0.07|
|760073||Edison Mine||Waste Pile||1.02||0.00||1.3||0.00||0.06|
|760157||Edison Mine||Waste Pile||1.06||0.01||1.3||0.22||0.09|
|760162||Edison Mine||Waste Pile||4.10||0.01||0.6||0.00||0.17|
|760165||Edison Mine||Waste Pile||1.15||0.01||0.1||0.00||0.10|
|760085||North Kittson||Waste Pile||2.18||0.22||3.2||0.04||0.28|
|760087||North Kittson||Waste Pile||1.05||0.04||0.6||0.03||0.14|
|760094||North Kittson||Waste Pile||1.47||0.03||0.8||0.00||0.11|
|760287||North Kittson||Waste Pile||1.12||0.08||1.0||0.10||0.16|
Figure 2. Geological Map of the Kittson Mine area displaying prospecting with samples with up to 2.18% cobalt in the newly discovered “North Kittson” zone.
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