ir-world-logo irw-world-logo-bogen
facebook-logo youtubelogo twitterlogo googlepluslogo rsslogo linkedinlogo pinterestlogo xinglong
Quantum Cobalt Corp. 18.12.2017
BLUEROCK ACQUISITION CORP

 

QUANTUM COBALT SAMPLES 10.59% and 2.22% COBALT IN HISTORIC DEVELOPMENT ROCK PILE ON KAHUNA PROJECT

 

Vancouver, British Columbia – Quantum Cobalt Corp. (CSE: QBOT; OTC: BRVVF; FRA: 23BA) (“Quantum” or the “Company”) wishes to announce results from the 100% owned Kahuna and Rabbit Lake Cobalt Properties (collectively, the “Properties” or the “Property”). The Kahuna and Rabbit Lake Properties lie in the famous Ontario ‘Cobalt’ district approximately 37km and 47km south of the town of Cobalt, Ontario respectively.

 

Kahuna Cobalt Property Results

The recent exploration program consisted of prospecting, geologic mapping and geochemical sampling. A total of 166 soil samples and 28 grab samples were collected and submitted for assay at Acme Laboratories in Timmins, ON. Eleven of the grab samples reported above 100ppm cobalt. Of the 11 samples, 9 were collected from historic development rock piles at historic workings. 

 

Sample No.

Sample Type

Sample Source

Cobalt (%)

Nickel (ppm)

Silver (g/t)

E6690521

Grab

Historic Working Pile

10.59

9200.1

11.1

E6690523

Grab

Historic Working Pile

2.22

1298.7

1.6

E6690504

Grab

Historic Working Pile

0.82

295.5

0.5

E6690506

Grab

Historic Working Pile

0.15

105.9

0.4

E6690507

Grab

Historic Working Pile

0.10

84

0.02

E6690525

Grab

Historic Working Pile

0.10

202.2

0.05

 

Preliminary review of results from the limited soil sampling program identifies two anomalous areas along strike of historic workings with peak values of up to 460ppm cobalt. The southeastern anomaly is approximately 150m long and is open to the southeast and northwest.

 

Rabbit Lake Cobalt Property Results

A recent exploration program was completed over the property, with 126 soil samples and 29 rock samples collected and submitted for assay at Acme Laboratories in Timmins, ON. Peak results in soil samples included 319.9ppm cobalt and 0.31 g/t gold.

 

The historic occurrence on the shoreline of Rabbit Lake is believed to now occur below water level, but mineralisation within structures as well as elevated cobalt in soil samples is observed in the immediate vicinity.

 

Interestingly, the soil samples identified another anomalous zone further south along strike from the historic occurrence. Following these results, additional field work and investigation will be conducted in the spring.

 

About the Kahuna Cobalt Property:

 

Location

The Kahuna Cobalt property is located 14 km northeast of the town of Temagami and 37km south of the town of Cobalt near the eastern border of Ontario. The district is mining friendly having a rich history of cobalt and silver production. The epicentre of past producing cobalt mines in Ontario.

 

Property Status and Configuration

The Kahuna Cobalt property is comprised of 77 claim units and covers approximately 1,200 hectares.

 

 

Access and Infrastructure

The Property is accessible by boat from Lorrain Lake which is accessed by 12 km of well maintained gravel surface roads off of leaving a major paved highway connecting the nearby town of Temagami and New Liskeard. The property is located 12 km from rail and power distribution lines.

 

Mineralization

Cobalt and silver mineralization occurs in calcite veins within the Nipissing Diabase as erythrite and native silver. The grade of 5 tonnes of material collected during past production was reported to be 22% Cobalt, and an assay of 20 oz/t Silver was reportedly obtained from a vein on the property.

 

History

Friday Mines Limited operated the property in the 1920’s sinking a shaft and drifting on a 10 inch wide calcite vein with cobalt mineralization. 5 tonnes of cobalt mineralization was produced with a grade of 22% Co. In the 1960’s, Gibson Mines Limited explored the property and found cobalt and silver mineralization. An assay of 20 oz/t silver was reportedly obtained from a vein as well. More recently, in 1998 a portion of the property was staked and a small soil survey reported cobalt in soil up to 440 ppm as well as gold-in-soil anomalies.

 

The historical information for the Kahuna Cobalt Property provided in Mineralization and History was obtained from the Mineral Deposit Inventory Report MDI31M04SE00035. The details of which are presented to provide a mineral potential and historical work perspective, and any sampling, analytical or test data underlying the information or opinions have not been verified by a Qualified Person. The Company intends to include check sampling during the current exploration phase.

 

Qualified Person

Michael Waldegger, P.Geo, is the qualified person as defined in NI 43-101, that has reviewed and approved the contents of this press release.

 

QUANTUM COBALT CORP.

 

Greg Burns

_______________________

Greg Burns, Director

 

Contact Information:

800 – 1199 West Hastings Street

Vancouver, British Columbia

V6E 3T5

Tel.: 604.283.1722 / Fax: 1.888.241.5996

 

Forward-Looking Information This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Quantum Cobalt Corp. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

 

 

> Quantum Cobalt Corp., weitere Meldungen...
smallcap-investor-logo
investor-sms-logo
irw-press-logo