Go Cobalt Begins 2018 Exploration Program on the Yukon Monster Property
Vancouver, British Columbia--(Newsfile Corp. - June 21, 2018) - Go Cobalt Mining Corp. (CSE: GOCO) ("Go Cobalt" or the "Company") is pleased to announce that it has mobilized for the summer work program in the Yukon. The Company has also completed the registration of additional claims at the Monster Property ("the Property") located in west-central Yukon Territory in the Traditional Territory of Tr'ondëk Hwëch'in First Nation ("THFN").
The Monster project now consists of 283 quartz claims. The additional claims comprise of an area of 2,000 ha which brings the total Monster land package to 6,000 ha. The new claims were staked based on historical data compiled by Go Cobalt in 2018.
- New staking increases property claims by approximately 30%
- The Monster now covers approximately 60 km2 of prospective ground
- Go Cobalt owns a 100% mining interest in the claims
Jaap Verbaas, VP Exploration commented, "The Monster project represents a large, prospective opportunity. We are excited to continue to vector into potential higher-grade cobalt-copper-gold mineralization as we develop our knowledge of the geology and structural setting. The additional claims secure potential extensions of known zones and targets."
Field program
Gorilla Minerals has mobilized to the Monster Property to continue exploration. The current work aims to further the understanding of the lithological and structural control on mineralization, both exposed and subsurface. The planned work includes:
- Property wide airborne magnetic and radiometric surveys by Precision GeoSurveys
- Examination of targets recently defined using Remote Spectral Geology (RSG)
- Extensive soil sampling of prospective targets
- Lithological and structural mapping of prospective target areas
About the Wernecke Breccia
Go Cobalt now covers 6,000 hectares of the Wernecke Breccia in the northern Wernecke Breccia belt. The Wernecke Breccia is a roughly linear EW trending belt of breccia zones that host hematitic Iron Oxide Copper & Gold (IOCG) occurrences.
Go Cobalt has identified zones of high cobalt (up to 2.8% Co), copper (up to 44.8% Cu) and gold (up to 1 g/t Au) concentrations and consolidated this ground. The Monster Property contains multiple historic showings of polymetallic mineralization. All mineralization on the Monster Property occurs within or immediately adjacent to the Wernecke Breccia.
Go Cobalt initiated its exploration program in March 2018 to become the most northern projects to use Remote Spectral Geology (RSG) to identify and target potential mineralization across the property. According to RSG specialist Rodrigo Diaz who performed the work: "The Wernecke Breccia lends itself to working with remote sensing technology because of the wide availability of outcrops, despite the challenges with the northern location of the project. Over 25 promising targets were defined across the 59.2 square km of the property, using satellite data and an integrated interpretation with all historical geoscientific data".
About Go Cobalt Mining Corp.
Go Cobalt is a junior mineral exploration company focused on copper, cobalt and gold exploration projects in Canada. The flagship Monster Property is located approximately 80 km north of Dawson City, Yukon. In addition to Monster the Company is conducting exploration at the New Brenda property in Southern British Columbia. The Company has an experienced board of directors with a track record of discovery success.
Qualified Person
Adrian Smith, P. Geo, director of Go Cobalt and a Qualified Person under National Instrument 43-101 has reviewed and approved the technical information in this release.
For additional information please contact Scott Sheldon at 604 725 1857.
On behalf of the Board of Directors,
"Scott Sheldon" President and CEO
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.