Cobalt and Copper Mineralization Borders Magnetic Anomalies at Monster Bloom Target
Vancouver, November 1, 2018 - Go Cobalt Mining Corp. (CSE: GOCO) ("Go Cobalt" and/or the "Company") is pleased to announce it has identified cobaltite in additional rock samples bordering magnetic anomalies on the Bloom Target on the 100% owned copper cobalt Monster Project (the "Property") in the Yukon, Canada. The Monster Property is a 6,300 Hectare IOCG-Cobalt property in the Yukon Territory north of Dawson City.
Highlights:
- Visible cobaltite has been identified in additional rock samples from Bloom Target (see Figure 2)
- Surface cobalt and copper mineralization shows positive correlation with magnetic anomalies
- The center of the magnetic highs are high priority targets
- Multiple, additional, untested shallow magnetic anomalies remain in the Bloom Target
- Cobalt and copper mineralization appear to be hosted in certain sedimentary layers and can be projected into the subsurface
- Cobalt and copper mineralization on property occurs over large area
Plans to advance the high priority Bloom Target include:
- Drill down-dip extensions of surface mineralization
- Test the relationship of surface mineralization to shallow magnetic anomalies
- Complete additional geochemical and geophysical surveys
- Further expand zones of copper and cobalt mineralization
Figure 1. The Bloom Target overlain on a 1st vertical derivative magnetic map. Several magnetic highs are untested.
To view an enhanced version of Figure 1, please visit:
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The Bloom Target
Historical work has yielded 14 surface showings of copper and cobalt. Of these, 5 surface showings occur on the Bloom Target. These surface showings include:
The East Cu-Co Zone - strata-bound copper and cobalt mineralization in carbonates and grades up to 1.87% Co, 0.9 % Cu and 1 g/t Au.
The 4900 Zone - occurs on the northwest edge of the Bloom Target area and includes up to 1.7% Cu, 1.47% Pb and 1.65% Zn, highlighting the polymetallic nature of the Monster deposit.
The South Co Zone - occurs in shales and contains up to 2.8% Co, 1.7% Cu and 0.7 g/t Au. This zone has also been confirmed by Go Cobalt during the 2018 field work.
Go Cobalt has not independently verified assays reported in this release and they are considered historic in nature. Additional assays from Go Cobalt's 2018 field program are pending.
Rock samples
Rock samples of the East Cu-Co zone and several other showings on the property are commonly erythrite, heterogenite or azurite and malachite stained. The predominant cobalt bearing mineral is cobaltite, a cobalt arsenic sulphide. The principal copper bearing minerals are chalcopyrite, bornite, tenorite and possibly chalcocite. Cobalt and copper occur as veins, disseminations and blebs.
Figure 2. Photos of stratabound blebs of cobaltite (co) and chalcopyrite (cpy) with carbonate-hematite alteration in carbonate-mud rock of the East Cu-Co showing. Both rock samples are approximately 15 cm wide.
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Approximately 40 rock samples of the Bloom Target are currently undergoing analyses at MS analytical in Langley, BC, together with 80 other rock samples from other historical and potentially new mineralized showings.
Magnetic and Radiometric Signature on the Bloom Target
In comparison to the country rock, the host rock to mineralization shows as a variably magnetic unit on a first-vertical-derivative image. The magnetic highs on the Bloom Target are locally bounded by surface mineralization. The centers of the magnetic highs are either unexposed or have not yet been investigated.
Radiometrics outline a broad zone of potassium and thorium. As opposed to the zonation elsewhere on the claim, this zone implies consistent alteration across the Bloom Target.
Future work on the Bloom Target includes further geological mapping and prospecting, soil sampling surveys at close sample spacing to outline shallow targets, drilling, and further geophysical work.
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.