Go Cobalt Mining Corp.

  • ISIN: CA3621LV1086
  • Land: .

Nachricht vom 06.11.2018 | 13:30

RETRANSMISSION: Go Cobalt Samples 2.96% Cobalt and Extends Copper, Cobalt, Gold and Silver Showings

DGAP-News: Go Cobalt Mining Corp. / Key word(s): Miscellaneous

06.11.2018 / 13:30
The issuer is solely responsible for the content of this announcement.


Vancouver, British Columbia--(Newsfile Corp. - November 6, 2018) - Go Cobalt Mining Corp. (CSE: GOCO) ('Go Cobalt' and/or the 'Company') is pleased to announce rock sample assay results from the Arena area on the 100% owned copper cobalt Monster Project (the 'Property') in the Yukon, Canada. The Monster Property is a 6,350 Hectare IOCG-Cobalt property in the Yukon Territory north of Dawson City. Additional assays are pending.

Go Cobalt's 2018 program has been successful in expanding pre-existing zones of mineralization and identifying significant values of cobalt, copper, gold, and silver. Together with the geological mapping, geophysical and remote sensing surveys, the highest priority drilling targets are being identified. Geochemical confirmation of several targets within the 1,200-hectare Arena area included 31 grab samples highlighted below.

Highlights from the Arena Area:

  • Cobalt grades average 0.1%, up to 2.96% Co
  • Copper grades average 0.59%, up to 3.81% Cu
  • Silver grades average 4.95 g/t, up to 53.52 g/t Ag
  • Gold grades average 0.03 g/t up to 0.49 g/t Au
  • The Cobalt Cirque showing has been extended from 200 metres to a total of 450 metres
  • Large bullseye target indicates mineralization within Arena area may be connected
  • Multiple high priority drilling targets

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/5946/40878_figure1resize.jpg

Figure 1. Left, Sample J35, a dolostone with erythrite staining. This sample yielded 2.96% Co. Right, Malachite staining in the Mark's Hi-Grade showing.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5946/40878_figure1.jpg

The Arena

The Arena is host to large geophysical, spectral, and radiometric anomalies that helped guide the initial phase of exploration and identified many targets that remain untested. The Arena is defined by a 4-km 'bullseye' radiometric target showing elevated potassium and thorium, bounded by elevated potassium and uranium indicating large mineralized system and alteration footprint. Several positive magnetic anomalies also occur within the Arena and are locally associated with surface mineralization. The initial geochemical results from the Arena area targeted and expanded zones of mineralization proving they are larger than previously indicated.

Seven showings of cobalt, copper, gold and silver occur in various outcrops starting from tens and ranging to hundreds of metres. Rock samples of surface mineralisation in the Arena are commonly azurite and/or malachite stained. The principal copper bearing minerals are chalcopyrite, bornite, tenorite and possibly chalcocite. In areas where cobaltite occurs erythrite staining is common. The predominant cobalt bearing mineral is cobaltite, a cobalt arsenic sulphide. Gold is expected to occur as disseminated specks along cobaltite and arsenopyrite, this hypothesis will be tested with additional petrological analyses. Cobalt and copper occur as veins, disseminations and blebs.

2018 Areas of Focus within Arena

The Cobalt Cirque Showing

The Cobalt Cirque showing on its own is host to several mineralized areas. The first area was termed the Upper Cobalt Cirque Showing in 1998 and occurs on the west slope immediately east of Cobalt Cirque. Two types of mineralization have been described. First is a chalcopyrite-bornite-cobaltite-quartz stock-work zone in heterolithic and carbonate-rich breccias where malachite, azurite and erythrite (cobalt bloom) are indicative of mineralized outcrop. Second is chalcopyrite and minor bornite in a dark green chlorite and hematite altered heterolithic breccia. Historical grab samples of the Cobalt Cirque area have yielded up to 4.2% Cu, 0.08% Co and 0.3 g/t Au.

Go Cobalt has confirmed and extend the Cobalt Cirque showing to include a large area of mineralized shale and carbonate altered Wernecke Breccia. Within the shale mineralization occurs within a carbonate stockwork. Within the carbonate altered breccia mineralization occurs as blebs and stringers of chalcopyrite.

Table 1. Grab sample results of Cobalt Cirque (n=16)

 Max.Average
Cu3.81%0.85%
Co0.05%0.01%
Ag53.5 g/t
6.8 g/t
Au0.12 g/t
0.02 g/t

 

Mark's Hi-grade

Mark's Hi-grade is a zone of disseminated chalcopyrite, bornite, pyrite and cobaltite mineralization of approximately 30 meters wide. One boulder with a bornite vein has led to a historical sample with 44.8% Cu. Visible mineralization occurs in scree and continues southward. Based on the occurrence of mineralized rocks in scree, Go Cobalt has extended this zone of mineralization by 200 m.

Table 2. Grab sample results of Mark's Hi-Grade (n=9)

 Max.Average
Cu1.00%0.35%
Co2.96%0.38%
Ag2.92 g/t
0.75 g/t
Au0.07 g/t
0.07 g/t

 

The Goblin Showing

Mineralization at the Goblin Showing consists of bornite, chalcopyrite and minor cobaltite in a carbonate stockwork. Samples of the Goblin showing have yielded up to 1% Cu, 0.01% Co and 22 g/t Ag. The Goblin showing may be connected to the Cobalt Cirque showing based on magnetic data.

Monster Project Video

Background information on the Monster Property together with the details of our 2018 exploration program are highlighted in a video on the Go Cobalt website: http://gocobalt.ca/video.cfm

Qualified Persons

Adrian Smith, P.Geo., is the qualified person for the Company as defined in the National Instrument 43-101 and has reviewed the technical information presented within this news release.

About Go Cobalt Mining Corp.

Go Cobalt is a Vancouver based mining exploration company. We develop exciting and relevant energy metal projects to help meet demand for a battery powered future.

For further information, please contact:

Scott Sheldon, President
604.725.1857
scott@gocobalt.ca

Forward-Looking Information:

This press release may include 'forward-looking information' (as that term is defined by Canadian securities legislation), concerning the Company's business. Forward-looking information is based on certain key expectations and assumptions made by the Company's management, including future plans for the exploration and development of its mineral properties. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws.

Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/40880


06.11.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



show this

News im Fokus

Philion SE steigt bei DEINHANDY ein:
Einer der Top 3 der netzunabhängigen Mobilfunkdienstleister in Deutschland entsteht

Die Philion SE hat ein klares Ziel: Den Wandel im deutschen Telekommunikationsmarkt nutzen und einen der drei führenden netzunabhängigen Mobilfunkdienstleister aufbauen. Mit dem Einstieg beim führenden Onlineshop für Mobilfunk DEINHANDY kommt Philion dem Ziel einen bedeutenden Schritt näher. DEINHANDY zählt zu den am schnellsten wachsenden E-Commerce Plattformen in Deutschland.

GBC-Fokusbox

Erfolgreiches Weihnachtsgeschäft in Aussicht: LUDWIG BECK bestätigt Guidance

Bei der Ludwig Beck AG läuft das wichtige vierte Quartal. Zwar konnte durch den langanhaltenden und heißen Sommer weniger Herbstmode als im Vorjahreszeitraum umgesetzt werden, die Prognose für das Gesamtjahr wurde jedoch bestätigt. Das vierte Quartal ist für den Einzelhandel der wichtigste Umsatz- und Ergebnislieferant und sollte mit dem Weihnachtsgeschäft deutlich wetterunabhängiger als die übrigen Quartale sein. Bei unserem Kursziel von 36,50 € je Aktie vergeben wir das Rating KAUFEN.

Aktueller Webcast

Westwing Group AG

Webcast

20. November 2018

Aktuelle Research-Studie

Pro Kapital Grupp

Original-Research: Pro Kapital Grupp AS (von BankM - Repräsentanz der FinTech Group Bank AG): Kaufen

16. November 2018