Inspiration Mining Corp. to Test for Cobalt
Toronto, October 20, 2017 - Inspiration Mining Corp. (CSE: ISM) ("Inspiration" or the "Corporation") is pleased to announce that it will be examining its past assays for Cobalt. Over the past 10 years, the Corporation has tested and catalogued over 8,000 assay samples from its 100% owned Langmuir Property, which is known for high grade Nickel sulphide production, the focus of these past assays have always been nickel. The Corporation will now focus its efforts in re testing theses assays for Cobalt. Cobalt, which has been seen as a byproduct of nickel and copper mines in the past, is now a key element in lithium ion battery production which, in combination of nickel and sulfides possess a higher electronic conductivity and results in a faster charge transfer than other alternatives. It is the resource now used in phones, computers, electric and hybrid vehicles and solar power storage systems. The increased demand for cobalt has resulted in its price rising sharply over the last few years.
"Given that nickel prices are on the rebound and the increased prices of Cobalt, the Corporation will be exploring the possibility of locating Cobalt on its Langmuir Property," stated Randy Miller, the President of the Corporation, "Given the substantial resources that the Corporation has expended in its various drill programs on its property, the Corporation believes that it has enough assay samples to properly test for Cobalt presence on the Langmuir Property."
For further information, please contact Randy Miller, Chief Executive Officer of the Corporation, at tel: 416-842-9000, www.inspirationmining.com
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This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.