(MENAFN - Newsfile Corp) RETRANSMISSION: Go Cobalt Samples 9% Cobalt on Bloom Target
Vancouver, British Columbia--(Newsfile Corp. - November 7, 2018) - Go Cobalt Mining Corp. (CSE: GOCO) ("Go Cobalt" and/or the "Company") is pleased to announce assay results of rock samples of the Bloom Target on the 100% owned copper cobalt Monster Project (the "Property") in the Yukon, Canada. The Monster Property is a 6,350 Hectare IOCG-Cobalt property in the Yukon Territory north of Dawson City.
Go Cobalt's 2018 program results continue to show the highly prospective nature of cobalt, copper, gold and silver mineralization on the Monster IOCG-Cobalt Project. The Company has combined geophysical, remote sensing techniques and geochemistry to determine the highest priority drilling targets. Geochemical assay results from 44 grab samples from the Bloom Target are highlighted below.
Highlights from the Bloom Target area: High grade nature of cobalt Multi-element mineralization Cobalt grades average 0.43%, up to 9.61%. Copper grades average 0.67%, up to 3.19% Silver grades average 1.70 g/t Ag up to 11.31 g/t Gold grades average 0.09 g/t up to 1.16 g/t East Cu-Co Zone extended by 250 m with projection into positive magnetic anomaly Multiple untested magnetic anomalies across kilometre scale area
Figure 1 Sample J25; 9.6% Co, 0.46% Cu, 1.16 g/t Au, 1.47 g/t Ag; dark grey shale; South Co Zone
To view an enhanced version of Figure 1, please visit:
The Bloom Target
The Bloom Target area gets its name from the pink erythrite-stained ("cobalt bloom") rocks. Within the area are 5 surface showings of copper and cobalt intermixed and in certain cases bounded by shallow magnetic anomalies. The close association of cobalt and other multi-element mineralization to these magnetic anomalies qualifies them as first order drilling targets for a future work program.
2018 Areas of Focus within Bloom Target
The South Co Zone - The South Co Zone contains cobalt and copper mineralization occurring as blebs and disseminations of cobaltite hosted within shales. Outcroppings of mineralized rocks are often stained pink and green due to the presence of erythrite and malachite (weathering products from cobalt and copper minerals) respectively. Additional trenching and drilling is required to determine the full extent of this zone due to lack of exposure in the area. Go Cobalt collected 14 grab samples in the South Co Zone where the average and maximum grades are reported in Table 1.
Table 1. Average and maximum grades of the South Co Zone
Co 0.85% 9.61%
Cu 0.98% 3.14%
Ag 2.97 g/t 11.31 g/t
Au 0.1 g/t 1.16 g/t
The East Cu-Co Zone - The East Cu-Co zone contains strata-bound cobalt and copper as well as mineralized clasts hosted within a hematitic breccia. Based on field observations of the strike and dip of the strata that hosts mineralization it is possible that mineralization continues down dip for several hundred metres. Additionally the lateral extension of the East Cu-Co zone transitions into hematitic breccias where mineralization is intermittent and may be related to potassic alteration. Go Cobalt collected 29 grab samples in both the historical zone and the newly identified extension. Average and highest grades are reported in Table 2.
Table 2. Average and maximum grades of the East Cu-Co Zone
Co 0.26% 1.97%
Cu 0.52% 2.41%
Ag 1.08 g/t 4.29 g/t
Au 0.07 g/t 11.31 g/t
Additional zones with highly elevated multi-element values remain to be examined within the Bloom Target area. Of note are the CC Zone, the 4900 Zone, and SE Spur Zone which remain open for testing and are still considered highly prospective zones that could be connected to a larger mineralized system.
Monster Project Video
Background information on the Monster Property together with the details of our 2018 exploration program are shown in this video: http://gocobalt.ca/video.cfm
Disclaimer and Quality Assurance and Quality Control
The samples reported in this release are grab samples from outcrop, they are selected samples and are not necessarily representative of mineralization hosted across the property.
Samples were analyzed by MS analytical in Langley, BC, using a combination of mass spectrometry with 4-acid and aqua-regia solution. Duplicates and standards were inserted by MS analytical using standard laboratory procedures. All duplicates and blanks yielded values within acceptable limits.
Go Cobalt has not verified all of the Historic samples referenced in this release.
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 Mining Corp.
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
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.