The self-described “largest cobalt exploration company in the world” has upped its new year search budget to C$7 million after a big late-2017 capital raising and last year’s regional land consolidation at Cobalt Camp in Ontario positioned First Cobalt Corp to “blanket the camp” with a 26,500m drilling campaign in 2018.
First Cobalt Corp (TSX-V: FCC) expanded its coverage of the Cobalt Camp district and added battery-materials cobalt refining capacity with last year's three-way corporate consolidation with Cobalt One and CobalTech Mining.
Now it plans to assess "different geological settings" at 13 different targets on its 10,000-hectare tenement holding.
"The 2018 program is a significant expansion over 2017 exploration activities and will test mineralized areas throughout the Cobalt Camp proximal to more than 10 past-producing mines known to contain cobalt in addition to new targets within three regional areas," the company said this week.
"The drill program will test cobalt targets occurring in different styles of mineralization and in diverse geological settings."
Vice president exploration Frank Santaguida said last year's exploration gave valuable insights into structural controls in various parts of the district.
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