First Cobalt (FCC.V) has found more cobalt in two new holes it has completed at the Woods Extension zone in the Canadian Cobalt Camp. The intervals are relatively short (0.65 and 0.3 meters) but the grades (respectively 0.47% Cobalt and 0.50% copper and 0.77% Cobalt and 2.67% Nickel) are very interesting as one hole seems to have intersected a cobalt-copper zone whilst the other hole was drilled into a cobalt-nickel zone.
According to the company, these holes also confirm the cobalt mineralization extends over a broader area than previously known or anticipated as the copper-cobalt hole appears to have been encountered in a breccia pipe with pyrite, whilst the cobalt-nickel intercept appears to be connected to a newly discovered fault zone. Exploration has never been easy, and these drill results confirm the Woods Extension zone hosts a structurally complex geological setting. First Cobalt’s press release (which you can find here) does a good job in explaining how the company approached the exploration program and what the next steps are.
Go to First Cobalt’s website
The author has a long position in First Cobalt. First Cobalt is a sponsor of the website. Please read the disclaimer
