Go Cobalt Acquires Nickel Palladium Platinum Project in Quebec
Vancouver, February 28, 2019 - Go Cobalt Mining Corp. (CSE: GOCO) ("Go Cobalt" and/or the "Company") is pleased to update regarding a new 100% owned nickel palladium platinum project ("Property") in Quebec, Canada.
Highlights:
- Go Cobalt acquires a 40 claim 2000 Ha nickel-copper-platinum group elements project.
- Grades range up to 0.72% Ni, >2% Cu, 0.14% Co, 361 ppb Au, 147 ppb Pt, and 220 ppt Pa.
- The claim is centered on a subtle magnetic anomaly in an anorthosite complex.
- Property is easily accessible with float plane from Havre-Saint-Pierre about 100km south.
Context:
Go Cobalt focuses on battery metals in Canada. Our flagship Monster Cu-Co project is in the Yukon and the Barachois V-Pb-Zn project is in eastern Quebec. With this new acquisition Go Cobalt expands their battery metals portfolio to include nickel, one of the fastest-growing battery metals in the EV Boom.
Nickel is used in both the creation of stainless steel and lithium-ion batteries. It is set to see demand increase as new lithium-ion production facilities ramp up production output.
The Claim
The new property is located about 100km north of Havre-Saint-Pierre. The site is float plane accessible and there is a forest service road 5km to the south. In the 90's a series of EM anomalies on the property was followed up with trenching. This trenching identified massive pyrrhotite veins on two of the showings, the Hamlet and the EGP. On the Hamlet showing an average of five samples yielded 0.69% Cu, 0.53% Ni, 0.09% Co and 83 ppb Pt. On the EGP showing an average of seven samples yielded 0.71% Cu, 0.33% Ni, 0.04% Co, 86 ppb Pt, 145 ppb Pa, and 109 ppb Au.
The showings occur on the north and south end of the property, on the edges of an anorthosite complex. The anorthosite complex in the middle is a magnetic low with some subtle magnetic features that may be associated with sulphide mineralization.
Ni-Cu-PGE Prospect Comparison
Massive sulphides in layered magmatic deposits can be remobilized during tectonic reworking. Commonly copper becomes more remobilized than nickel and PGE's. The occurrence of several veins on the property on the edges of an anorthosite complex indicates there is potential for more extensive mineralization.
Data Presentation
The data presented in this news release is historical in nature and has not been verified by the company.
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
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43097