Vancouver, October 23, 2018 -
Edison Cobalt Corp (TSXV: EDDY) ("Edison Cobalt" or the "Company") is pleased to announce initial results from their summer diamond drilling program targeting the historic Edison Mine area of their Kittson-Cobalt Project, located in the prolific Cobalt Silver Camp in Northeast Ontario, Canada.
A total of 2,620 metres (21 holes) have been completed during the summer program, results of which have been received for the first 12 holes. Highlights include hole KIT-18-010 which returned 0.20% Co over 4.65 meters, including 0.34% Co over 2.65 meters and hole KIT-18-012 which returned 0.27% Co over 2.65 metres including 1.24% Co over 0.35 meters and a separate intercept of 0.63% Co over 1.00 meters.
The program successfully intersected the fracture zone that hosts the Edison Mine mineralization over a strike length of ~150 metres and to a maximum depth of ~175 meters. The fracture zone was much wider than was observed at surface, ranging from 7 to 30 metres wide (drilled core length) and hosting several 0.1 - 2.0 metre quartz-carbonate veins surrounded by intense carbonate alteration. Fracture and vein controlled cobalt mineralization in the form of smaltite and erythrite (cobalt bloom) occurred throughout this zone with values as high as 1.24% Cobalt over 0.35 meters. A full list of significant intersections is provided in Table 1 below. A drill hole location map, an isometric view and cross section are shown here. (Click here to view Maps and Figures)
Commenting on the latest results, Neil Pettigrew, President and CEO said: "We're highly encouraged by this initial drill program on the historic Edison Mine. These results represent the first drilling ever conducted at the Edison Mine."
Table 1. Diamond Drilling Highlights.
Hole From To Width
Number (Metres) (Meters) (Meters) Co wt. % Au g/t Ag g/t Cu wt.% Ni wt. %
ED-18-001 No Significant Results
ED-18-002 No Significant Results
ED 18-003 No Significant Results
ED-18-004 No Significant Results
ED-18-005 No Significant Results
ED-18-006 No Significant Results
ED-18-007 42.10 45.30 3.20 0.05 0.005 0.3 0.020 0.010
And 66.20 67.38 1.18 0.06 0.006 0.2 0.002 0.005
And 86.50 86.80 0.30 0.13 0.009 0.3 0.006 0.010
ED-18-008 No Significant Results
ED-18-009 No Significant Results
ED-18-010 73.50 78.15 4.65 0.20 0.013 1.2 0.007 0.032
Including 74.50 77.15 2.65 0.34 0.337 1.5 0.008 0.050
Including 74.50 74.85 0.35 0.98 0.015 1.5 0.026 0.123
ED-18-010 95.70 99.00 3.30 0.07 0.005 1.0 0.022 0.017
ED-18-011 22.00 22.40 0.40 0.11 0.044 1.3 0.004 0.000
ED-18-012 144.35 147.00 2.65 0.27 0.000 2.1 0.014 0.022
Including 145.35 145.70 0.35 1.24 0.000 11.4 0.007 0.113
And 156.00 156.40 0.40 0.37 0.000 1.1 0.001 0.018
And 169.00 170.00 1.00 0.63 0.000 0.5 0.026 0.037
*All reported widths are drilled core lengths.
About the Kittson-Cobalt Project
The Project is located near the town of Cobalt in northeast Ontario, Canada. The Project hosts the historic Edison, Shakt-Davis and Kittson mines, as well as numerous historic workings, the deepest extending down to 628 feet, and over 2,500 feet of lateral workings. Cobalt mineralization occurs in Proterozoic-aged quartz-carbonate veins hosted in brittle shears in Nipissing diabase. This style of mineralization is similar to that of the famous Cobalt Silver Camp located ~15 km east of the Property, which produced 420 million ounces of silver with cobalt as a significant by-product. Veins hosting the mineralization at the Kittson-Cobalt Project differ from the typical Cobalt Silver Camp veins in that they are lower in silver but richer in cobalt and are associated with significant gold. Historic reports from the Shakt-Davis mine indicate values of 1.5% Co over 1.37 metres and select grab samples returning up to 4% Co and 93.3 g/t Au. Locally significant nickel, copper and to a lesser extend lead, zinc and bismuth also occur within the quartz-carbonate veins.
About Edison Cobalt Corp.
Edison Cobalt Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium and other energy metals. Edison Cobalt's acquisition strategy focuses on acquiring affordable, cost-effective and highly regarded mineral properties in areas with proven geological potential. The Company's shares are listed and posted for trading on the TSX Venture Exchange under the symbol "EDDY", the OTC Pinks under the symbol "PWMRF", and on the Frankfurt Exchange under the symbol "VV0".
The technical content of this news release has been reviewed and approved by Neil Pettigrew, M.Sc., P.Geo., President & CEO and a director of the Company, and a Qualified Person as defined by National Instrument 43-101.
On behalf of the Board of Directors:
"Neil Pettigrew"
Neil Pettigrew, President & CEO
For more information please contact:
Howard Milne V.P. Business Development
Tel: (604) 377-8994 Email: hdmcap@shaw.ca
Website: www.edisoncobalt.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
