Cypress Development Announces Impressive 6.5 Mt LCE Resource For Its Clayton Valley Lithium Project

By Bart van Woensel, https://www.criticalinvestor.eu/… 

  1. Introduction

Some juniors can be agonizingly slow on following up to their self-imposed timelines and ability to deliver results, however there are exceptions to the contrary. Cypress Development (TSXV: CYP; OTC: CYDVF; FRA: C1Z1) is proceeding at breathtaking pace, going from their first drill hole at their Dean claystone lithium project in Nevada, US to the very recent announcement of a maiden resource estimate on both Dean and Glory projects in just over a year. Not only this, the company also managed to beat various estimates in the field, according my own, with some margin, as it released a 6.54 Mt lithium carbonate equivalent (LCE) resource estimate. By doing this, Cypress established itself instantly as the holder of a 100% owned world class sized lithium deposit, which is quite something for a junior with a tiny market cap.

The next step will consist out of two parts: developing and completing metallurgical testing for viable recovery methods (also known as met work in the industry), and doing a Preliminary Economic Assessment (PEA) to provide economics. The met work is ongoing and guided by very experienced CEO Bill Willoughby who holds a PhD in engineering and metallurgy, and the PEA is scheduled for the end of August or September. As the resource of Dean/Glory is quite large, the potential for a project with very impressive economics could be realistic. After talking to management and various industry experts, I will provide a hypothetical outlook on this potential, and together with this my view on valuation potential.

All presented tables are my own material, unless stated otherwise.

All pictures are company material, unless stated otherwise.

All currencies are in US Dollars, unless stated otherwise.

[*] Maiden Resource Estimate

Cypress Development released their maiden resource estimate on their fully owned Clayton Valley lithium project on May 1, 2018, and it sure was impressive. The total resource for the Dean and Glory properties came in at 6.54 Mt LCE, which consisted of an Indicated mineral resource of 597 Mt at an average grade of 899 ppm (0.09%) Li, which equates to a contained 2.857 Mt of lithium carbonate equivalent (LCE), and an Inferred mineral resource of 779 Mt at an average grade of 888 ppm (0.089%) Li, which equates to a contained 3.683 Mt of LCE. The total number of 6.54 Mt beat my estimate by about 20%, according to my estimated target of 5.45 Mt LCE, and also my top margin target of 6Mt.

Again, as a continuous reminder, examples of world class sized LCE deposits in each category are brine projects like Cauchari/Olaroz (Orocobre: 6.4Mt LCE, SQM/Lithium Americas 11.7Mt LCE), clay projects like Sonora (Bacanora: 7.2Mt LCE) or hard rock projects like Whabouchi (Nemaska: 4.06 Mt LCE).

The average grade of about 893ppm Li is somewhat lower than my estimated average of about 950ppm Li, but this isn’t out of line and a normal deviation to my numbers as I am estimating without advanced software used by engineering firms. The cut-off grade was also set somewhat low at 300ppm Li which probably helped to increase the resource but also lowered the average grade.

The deposit is outlined by 23 core holes for 1,891m drilled during 2017 and 2018. As the deposit is lying at surface and is pretty superficial (no deeper than 150m, usually starting at surface) and mineralization appears to be very continuous, drilling it off is relatively very cheap to build tonnage. The deposit remains open at depth, with 21 of the 23 holes ending in lithium mineralization. As this mineralization at the endings of drill cores averaged 300 ppm Li, my view is that the company will not find much more economic mineralization (assuming 800-900ppm Li) at depth, and will focus on infill drilling and advancing the current mineralized body which is already world class.

Management estimates that an additional 30 drill holes are required to upgrade the Inferred portion of the mineral resource to the Indicated category. The large tonnage of the deposit lends potential to target higher grade lithium mineralization for the PEA, as is seen within the intercepts between GCH-06 and DCH-13:

After discussing this with management, it seems that enough of the deposit is eligible to mine at a higher grade compared to the average grade of the maiden resource. All in all, an average grade of 1,000ppm Li seems to be realistic, and I will use this as a base for my hypothetical PEA estimates later on.

Preliminary test work conducted at SGS Canada Inc (Lakefield) and Continental Metallurgical Services, LLC has shown the material exhibits high lithium extractions with short leach times. Lithium extractions greater than 80% can be achieved in 4 to 8 hours using conventional dilute sulfuric acid leaching. Currently, Hazen Research Inc is conducting additional leach tests and preliminary results confirm high lithium extractions for new mineral zones.

The presence of acid leachable lithium presents significant cost savings by avoiding calcine and regrind of material during processing. Preliminary results also show the consumption of sulfuric acid and other reagents are relatively low, to the tune of 100kg/t LCE.

It was also stated in the news release that the production of high-purity lithium carbonate (a typical salable product) was demonstrated in the laboratory using conventional recovery methods, but the big question always remains costs on a commercial scale with these kind of bench scale tests, and the potential for economic removal of impurities. This is the next big step Cypress is facing through continuing with its ongoing met work, and as mentioned in earlier updates, if the company succeeds in this department the resource all of a sudden becomes commercially viable and minable, implying vast upside for valuation.

At the same time, Cypress also plans to proceed immediately with a PEA based on the current resource, and is also evaluating ways to accelerate the project through additional drilling and related studies.

The treasury currently contains about C$600k, and management estimates it needs about C$100k for met work, and C$250k for the PEA, so there is no need for a financing soon. This PEA is scheduled for completion in August or September of this year, which is earlier than I expected.

The road show recently completed in the US could have had something to do with the recent runup of the share price, and maybe the brand new (April 20, 2018) OTCQB listing helped as well in this regard. It seemed that the release of the maiden resource estimate also served some investors as a liquidity event, as the share price didn’t appreciate as expected by many but hovered around the same levels on huge volume, which was kind of disappointing as the resource estimate was impressive:

Share price 1 year time frame; source tmxmoney.com

Hopefully the selling will stop soon, and the stock can appreciate further, as I do feel Cypress deserves quite a bit better valuation soon. My feelings are based on discussions I had with management and industry experts on potential economics. It is still early days with a lot of foreward looking assumptions and statements, but if Cypress manages to come close to those guesses, the potential upside is definitely very significant.

[*] Hypothetical Economics

The news release on the maiden resource estimate contained an interesting passage on current estimates by management on potential economics:

" The mineral resources reported use a cut-off grade of 300 ppm Li (0.03%), reflecting a $1/tonne mining cost, $0.50 G&A cost, and a $3,800/tonne LCE processing cost (~$13/tonne processed). These costs reflect a 10,000 – 15,000 tonne per day mining operation in soft sedimentary material that does not require blasting. The resource estimate used a process recovery of 80%."

The processing cost here is a combined figure of processing the ore to concentrate, and converting this concentrate to LCE. In order to calculate the amounts, I would like to refer to this handy table which I found at the website of Rocktech Lithium, another lithium junior. The conversion ratio from Lithium (Li) to LCE stands at 1 to 5.323, meaning that 1t of Li converts to 5.323t of LCE.

Following this, the assumed conservative average grade of 1,000ppm Li (as estimated earlier on by me) for the hypothetical PEA or 0.1%Li converts to 0.532% LCE. So 1 tonne of material/ore contains 1000 grams of lithium at 100% recovery and 800 grams at 80% recovery, or the equivalent amount of lithium to produce 4.25kg LCE. This is currently worth US$55.25 taking into account average contract prices of US$13,000/t LCE, or US$103.9, according to the current spot price of US$24,450/t LCE, according to this sheet taken from the presentation of Lithium Americas:

For 1t of LCE could be needed 235.3t of material/ore at 80% recovery. Dividing the processing costs of US$3,800 over this number generates US$16.15/t material/ore, adding to this the already stated US$1/t mining costs and US$0.5/t G&A could result into US$17.55/t operating costs. On the other hand total opex for 1t LCE could be US$4129.5/t as mining is extremely cheap. Comparing this to the contract price of US13,000/t LCE, or hypothetical revenues of US$55.25/t ore (assuming producer contracts as the amounts possible at this project would destroy the spot market pricing completely), it can be seen that Cypress has a significant margin for error. In order to be conservative and in line with other recent economic studies, I would like to use an estimated average contract price of US$12,000/t.

For the record I would like to emphasize that all estimates and assumptions are my numbers only, so any mentioned hypothetical PEA outcome is very preliminary in nature and can not be relied upon.

Total production can be calculated by using the stated throughput capacity. When using midpoint capacity of 12,500tpd, annual throughput would be 350d * 12,500 = 4,375,000tpa, resulting into 18,594tpa LCE, resulting into US223.1M revenues per annum. Considering there is a resource of 6.54Mt LCE, this would hypothetically result in a life of mine (LOM) of 312 years at 80% recovery. As this isn’t realistic, I will use an already long life of mine of 25 years.

A very important item is capex. As mining doesn’t require blasting or first processing of the sedimentary claystone doesn’t require heavy crushing or milling, capex on these items can be relatively modest. Infrastructure is hardly needed, as the project is located next to Albemarle’s Silver Peak lithium mine. When talking to management, it is anticipated that large volumes of water have to be transported to site by a pipeline coming from nearby sources. When taking everything into account, a US$400M capex seems realistic as a first guess.

According to management, there will also be cost savings through cheaper soda ash coming in from Wyoming. This is a big cost for brine producers down in South America as they have to import the soda ash from Wyoming. Given proximity to Wyoming and in the US, there could be significant cost savings although it is too early to say to what extent.

An interesting item is the new corporate tax rate of 21%, lowered from 35% by the Trump administration. Usually a state levies their own taxes on top of this, but Nevada, together only with Ohio, South Dakota and Texas, has a state corporate tax of 0%, so the total corporate tax rate is 21% for Cypress which is of course beneficial to economics.

This all results into the following basic discounted cash flow analysis:

As can be seen, the hypothetical NPV7.5 would come in at US$966M, and the hypothetical IRR at 33.8%, which is pretty impressive for a large scale lithium project:

Keep in mind that I am using a conservative average contract pricing of US$12,000, in line with competitors. In order to see what happens at different LCE prices, have a look at my hypothetical sensitivity table right here:

These hypothetical numbers all look very good, especially at the 15,000tpd scenario, and the IRR improved somewhat on larger scenarios as I anticipated on some economies of scale which is industry standard.

A PEA is early stage, so it usually gets discounted quite a bit, depending on the various parameters and economics of the project. With Cypress, the recovery method needs proof so I can imagine the markets are willing to give an increased discount for this as long as the method hasn’t been proven on a commercial scale.

For this, Cypress could probably need to go the route of a pilot plant first before it can get rid of this additional discount. Management is looking into this, and is contemplating the possibility of standard leach and precipitation steps as the recovery process seems relatively straightforward. As a consequence, it is anticipated that any pilot plant should not be complicated, expensive or time consuming. A pilot plant might be something Cypress has to do for the Feasibility Study (FS) and/or financing of capex, but this is still uncertain. This issue will likely see more clarity after the PEA comes out.

If a potential pilot plant is needed and succeeds in proving up a commercial method, it is certainly not far fetched to see a future potential marketcap of 25-30% of NPV7.5. If we would take a (very) conservative but still hypothetical US$500M NPV, this translates into a C$658M NPV, which would result into a C$164-197M market cap, which would almost be a ten-bagger from today’s levels. I can certainly imagine the share price starting to appreciate towards this point when ongoing met work points towards the right direction, the PEA economics and costs seem convincing and the following test work proves up the coveted method as being commercially viable.

[*] Conclusion

The maiden resource estimate on the Clayton Valley lithium project provided the markets with impressive tonnage, coming in at 6.54Mt LCE, which ranks among the worlds largest deposits across various types of deposits. According to management, met work is progressing well, and this will hopefully generate a commercially viable recovery method to render the project economic. Several assumptions point towards the direction of a hypothetical NPV7.5 of over CS$1B which is colossal compared to the current marketcap of C$21.2M, even discounted for the PEA stage and recovery methods. It will probably come as no surprise that I am tracking this company in my portfolio with above average interest.

I hope you will find this article interesting and useful, and will have further interest in my upcoming articles on mining. To never miss a thing, please subscribe to my free newsletter at www.criticalinvestor.eu , in order to get an email notice of my new articles soon after they are published.

Disclaimer:

The author is not a registered investment advisor, and has a long position in this stock. Cypress Development is a sponsoring company. All facts are to be checked by the reader. For more information go to www.cypressdevelopmentcorp.com and read the company’s profile and official documents on www.sedar.com, also for important risk disclosures. This article is provided for information purposes only, and is not intended to be investment advice of any kind, and all readers are encouraged to do their own due diligence, and talk to their own licensed investment advisors prior to making any investment decisions.

 

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First Cobalt Provides Update on Woods Extension Drilling

First Cobalt Corp. (TSX-V: FCC, ASX: FCC, OTCQB: FTSSF) (the “Company” – https://www.youtube.com/watch?v=LY4qXCoWstE&t=3s) today announces additional drill results from the Woods Extension Zone of Cobalt South in the Canadian Cobalt Camp. Cobalt mineralization has been identified in breccia zones as well as faults, reflecting a complex structural setting that warrants further drilling.

Highlights

  • Assay results from two holes confirm cobalt mineralization extends over a broader area, including:
    • 47% Co and 0.50% Cu over 0.65m in FCC-18-0015
    • 77% Co and 2.67% Ni over 0.30m in FCC-18-0020
  • Cobalt is found as two different styles of mineralization in each hole: breccia-style dominated by pyrite in drill widths up to 25m, and vein-style within an interpreted fault structure
  • Cobalt mineralization encountered over 250m north of the historic Frontier Mine workings in an area never previously drilled
  • Follow up work continues including downhole geophysical surveys and televiewer imaging to determine a possible orientation of the breccia zone and faults. Additional drilling is planned later in the year

Trent Mell, President & Chief Executive Officer, commented:

“We remain encouraged by the cobalt potential of the Woods Extension Zone. Broad breccia areas have not been seen previously at either the Frontier or Keeley Mines and new fault zones continue to be found. We have confirmed cobalt occurs in two different structures at relatively shallow depths that may extend to surface. The key objective of the 2018 exploration program is to identify potential targets in the Cobalt Camp that could be amenable to open pit mining.”

Assay results from the two most recent holes confirm that cobalt mineralization extends over a broader area than previously known within the Woods Extension Zone (Table 1). In FCC-18-0015, cobalt mineralization occurs within a breccia zone with pyrite, while in FCC-18-0020, cobalt veining is associated with an interpreted fault. Both intersections reflect a complex structural setting hosting cobalt as well as silver, nickel and copper which will require further work.

In early 2018, 1,436 metres of diamond drilling were completed across seven holes to explore cobalt mineralization found north of the Frontier Mine workings in the Woods Extension Zone. In 2017 several carbonate veins were intersected suggesting either a broad deformation zone had developed or that the Woods and Watson Veins are not linear as historical records indicated. The Woods and Watson Vein systems were historically the most prolific producers in Cobalt South, accounting for over 80% of the production in this area of the Cobalt Camp. Newly identified cobalt-rich veins have been associated with both the Woods and Watson Veins as well as a new vein found between these two structures. Surface mapping interpreted these structures to trend in a north-west orientation.

To follow up on these results, in 2018 an east-west fence of four holes was drilled more than 200m to the north of the 2017 holes (Figure 1). An additional three holes were also drilled near the 2017 drill holes to test for an interpreted east-west fault previously thought to terminate the Woods and Watson Veins. The new cobalt intersections reported here reflect the identification of mineralization over 250m north of the underground workings of the Frontier Mine. Copper and nickel associated with cobalt were previously intersected near Frontier Mine, suggesting a similar setting may exist in both areas.

Drill hole FCC-18-0015 is the western-most hole of the fence, intersecting a 25m zone of chlorite-epidote altered and brecciated mafic volcanic rocks. Pyrite occurs as veins and within the matrix, infilling the brecciated rocks. Cobalt mineralization occurs in two intervals within the zone where chloritic alteration and shearing have developed. Discrete cobalt minerals and calcite veins are not visible and assumed to be finely disseminated. Throughout the breccia zone disseminated chalcopyrite occurs with pyrite and in the altered wallrocks. The orientation of this mineralization is not confirmed but may represent an offset version of the Woods Vein or may be part of another north trending structure, the Beaver Lake Vein, known to contain silver-rich mineralization.

Drill hole FCC-18-0020 was drilled northward to test for the presence of an east-west fault historically considered to terminate the Woods and Watson Veins. Overall the volcanic rocks within the drill hole are altered, specifically at 110m downhole where a 10m interval of sheared and chloritized rocks is considered to coincide with the east-west fault. Within this interval cobalt minerals occur within a discrete calcite vein. Pyrite and arsenopyrite occur over a three metre wide halo adjacent to the vein. Nickel with cobalt mineralization have been previously reported in a hole approximately 50m south of this intersection (January 10, 2018).

Follow up work to this drill program has included downhole geophysical surveys and televiewer imaging of drill hole FCC-18-0015. Magnetic intensity, resistivity, natural gamma radiation and chargeability were measured to characterize the breccia zone and cobalt mineralization to determine if ground geophysical surveys can be effectively used. The televiewer images will be integrated with the existing geological log to determine a possible orientation of the breccia zone. Detailed mapping in outcrops is possible in the summer to determine if an expression of this zone can be found at surface.

Woods Extension Zone

The Woods Extension Zone was identified from assay results at the northern extent of the Frontier Mine. Early assay results from the Frontier Mine included an intersection of 0.83% Co and 30 g/t Ag over 0.48 metres (November 2, 2017), which was the first indication of a possible extension of the Woods Vein system.

Most cobalt-rich veins intersected demonstrate that mineralization extends outside of the silver-bearing veins. A new cobalt-nickel vein was found between the Woods and Watson Veins, grading 0.57% Co and 1.40% Ni over 0.40m (January 10, 2018), suggesting a network may exist where faults and folds converge. The highest grade cobalt veins occur at the north end of the Frontier Mine, specifically along the Watson Vein.

Quality Assurance and Quality Control

First Cobalt has implemented a quality control program to comply with common industry best practices for sampling and analysis. Samples are collected from drill core from a range of 30 to 100cm length. Half-core samples are submitted for analysis. Standards and blanks are inserted every 20 samples. Duplicates are made from quarter core splits every 20 samples. Geochemical data were received from SGS Canada in Lakefield, Ontario, Canada. No QA/QC issues have been noted. SGS has used a sodium-peroxide fusion and ICP finish for analyses on all samples. Where applicable, over-range (>1%) Co, Ni, Cu, Zn, and Pb are determined by a separate fusion and ICP finish. High silver values (>1,000 g/t) are determined by gravimetric separation and fire assay finish.

Qualified and Competent Person Statement

Dr. Frank Santaguida, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the contents of this news release. Dr. Santaguida is also a Competent Person (as defined in the JORC Code, 2012 edition) who is a practicing member of the Association of Professional Geologists of Ontario (being a ‘Recognised Professional Organisation’ for the purposes of the ASX Listing Rules). Dr. Santaguida is employed on a full-time basis as Vice President, Exploration for First Cobalt. He has sufficient experience that is relevant to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code.

About First Cobalt

First Cobalt aims to create the largest pure-play cobalt exploration and development company in the world. The Company controls over 10,000 hectares of prospective land covering over 50 historic mines as well as mineral processing facilities in the Cobalt Camp in Ontario, Canada. The First Cobalt Refinery is the only permitted facility in North America capable of producing cobalt battery materials.

First Cobalt seeks to build shareholder value through new discovery, mineral processing and growth opportunities, with a focus on North America. On March 14, 2018, the Company proposed a friendly, all-share acquisition of US Cobalt Inc. for its Iron Creek Project in Idaho, U.S. The transaction remains subject to shareholder and regulatory approvals and other closing conditions. This transaction is intended to further enhance First Cobalt’s position as a leading pure-play North American cobalt company.

On behalf of First Cobalt Corp.]

Trent Mell
President & Chief Executive Officer

For more information visit www.firstcobalt.com or contact:

Heather Smiles
Investor Relations
info@firstcobalt.com
+1.416.900.3891

 

 

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First Cobalt Provides Update on Woods Extension Drilling

First Cobalt Corp. (TSX-V: FCC, ASX: FCC, OTCQB: FTSSF) (the “Company” – https://www.youtube.com/watch?v=LY4qXCoWstE&t=3s) today announces additional drill results from the Woods Extension Zone of Cobalt South in the Canadian Cobalt Camp. Cobalt mineralization has been identified in breccia zones as well as faults, reflecting a complex structural setting that warrants further drilling.

Highlights

  • Assay results from two holes confirm cobalt mineralization extends over a broader area, including:
    • 47% Co and 0.50% Cu over 0.65m in FCC-18-0015
    • 77% Co and 2.67% Ni over 0.30m in FCC-18-0020
  • Cobalt is found as two different styles of mineralization in each hole: breccia-style dominated by pyrite in drill widths up to 25m, and vein-style within an interpreted fault structure
  • Cobalt mineralization encountered over 250m north of the historic Frontier Mine workings in an area never previously drilled
  • Follow up work continues including downhole geophysical surveys and televiewer imaging to determine a possible orientation of the breccia zone and faults. Additional drilling is planned later in the year

Trent Mell, President & Chief Executive Officer, commented:

“We remain encouraged by the cobalt potential of the Woods Extension Zone. Broad breccia areas have not been seen previously at either the Frontier or Keeley Mines and new fault zones continue to be found. We have confirmed cobalt occurs in two different structures at relatively shallow depths that may extend to surface. The key objective of the 2018 exploration program is to identify potential targets in the Cobalt Camp that could be amenable to open pit mining.”

Assay results from the two most recent holes confirm that cobalt mineralization extends over a broader area than previously known within the Woods Extension Zone (Table 1). In FCC-18-0015, cobalt mineralization occurs within a breccia zone with pyrite, while in FCC-18-0020, cobalt veining is associated with an interpreted fault. Both intersections reflect a complex structural setting hosting cobalt as well as silver, nickel and copper which will require further work.

In early 2018, 1,436 metres of diamond drilling were completed across seven holes to explore cobalt mineralization found north of the Frontier Mine workings in the Woods Extension Zone. In 2017 several carbonate veins were intersected suggesting either a broad deformation zone had developed or that the Woods and Watson Veins are not linear as historical records indicated. The Woods and Watson Vein systems were historically the most prolific producers in Cobalt South, accounting for over 80% of the production in this area of the Cobalt Camp. Newly identified cobalt-rich veins have been associated with both the Woods and Watson Veins as well as a new vein found between these two structures. Surface mapping interpreted these structures to trend in a north-west orientation.

To follow up on these results, in 2018 an east-west fence of four holes was drilled more than 200m to the north of the 2017 holes (Figure 1). An additional three holes were also drilled near the 2017 drill holes to test for an interpreted east-west fault previously thought to terminate the Woods and Watson Veins. The new cobalt intersections reported here reflect the identification of mineralization over 250m north of the underground workings of the Frontier Mine. Copper and nickel associated with cobalt were previously intersected near Frontier Mine, suggesting a similar setting may exist in both areas.

Drill hole FCC-18-0015 is the western-most hole of the fence, intersecting a 25m zone of chlorite-epidote altered and brecciated mafic volcanic rocks. Pyrite occurs as veins and within the matrix, infilling the brecciated rocks. Cobalt mineralization occurs in two intervals within the zone where chloritic alteration and shearing have developed. Discrete cobalt minerals and calcite veins are not visible and assumed to be finely disseminated. Throughout the breccia zone disseminated chalcopyrite occurs with pyrite and in the altered wallrocks. The orientation of this mineralization is not confirmed but may represent an offset version of the Woods Vein or may be part of another north trending structure, the Beaver Lake Vein, known to contain silver-rich mineralization.

Drill hole FCC-18-0020 was drilled northward to test for the presence of an east-west fault historically considered to terminate the Woods and Watson Veins. Overall the volcanic rocks within the drill hole are altered, specifically at 110m downhole where a 10m interval of sheared and chloritized rocks is considered to coincide with the east-west fault. Within this interval cobalt minerals occur within a discrete calcite vein. Pyrite and arsenopyrite occur over a three metre wide halo adjacent to the vein. Nickel with cobalt mineralization have been previously reported in a hole approximately 50m south of this intersection (January 10, 2018).

Follow up work to this drill program has included downhole geophysical surveys and televiewer imaging of drill hole FCC-18-0015. Magnetic intensity, resistivity, natural gamma radiation and chargeability were measured to characterize the breccia zone and cobalt mineralization to determine if ground geophysical surveys can be effectively used. The televiewer images will be integrated with the existing geological log to determine a possible orientation of the breccia zone. Detailed mapping in outcrops is possible in the summer to determine if an expression of this zone can be found at surface.

Woods Extension Zone

The Woods Extension Zone was identified from assay results at the northern extent of the Frontier Mine. Early assay results from the Frontier Mine included an intersection of 0.83% Co and 30 g/t Ag over 0.48 metres (November 2, 2017), which was the first indication of a possible extension of the Woods Vein system.

Most cobalt-rich veins intersected demonstrate that mineralization extends outside of the silver-bearing veins. A new cobalt-nickel vein was found between the Woods and Watson Veins, grading 0.57% Co and 1.40% Ni over 0.40m (January 10, 2018), suggesting a network may exist where faults and folds converge. The highest grade cobalt veins occur at the north end of the Frontier Mine, specifically along the Watson Vein.

Quality Assurance and Quality Control

First Cobalt has implemented a quality control program to comply with common industry best practices for sampling and analysis. Samples are collected from drill core from a range of 30 to 100cm length. Half-core samples are submitted for analysis. Standards and blanks are inserted every 20 samples. Duplicates are made from quarter core splits every 20 samples. Geochemical data were received from SGS Canada in Lakefield, Ontario, Canada. No QA/QC issues have been noted. SGS has used a sodium-peroxide fusion and ICP finish for analyses on all samples. Where applicable, over-range (>1%) Co, Ni, Cu, Zn, and Pb are determined by a separate fusion and ICP finish. High silver values (>1,000 g/t) are determined by gravimetric separation and fire assay finish.

Qualified and Competent Person Statement

Dr. Frank Santaguida, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the contents of this news release. Dr. Santaguida is also a Competent Person (as defined in the JORC Code, 2012 edition) who is a practicing member of the Association of Professional Geologists of Ontario (being a ‘Recognised Professional Organisation’ for the purposes of the ASX Listing Rules). Dr. Santaguida is employed on a full-time basis as Vice President, Exploration for First Cobalt. He has sufficient experience that is relevant to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code.

About First Cobalt

First Cobalt aims to create the largest pure-play cobalt exploration and development company in the world. The Company controls over 10,000 hectares of prospective land covering over 50 historic mines as well as mineral processing facilities in the Cobalt Camp in Ontario, Canada. The First Cobalt Refinery is the only permitted facility in North America capable of producing cobalt battery materials.

First Cobalt seeks to build shareholder value through new discovery, mineral processing and growth opportunities, with a focus on North America. On March 14, 2018, the Company proposed a friendly, all-share acquisition of US Cobalt Inc. for its Iron Creek Project in Idaho, U.S. The transaction remains subject to shareholder and regulatory approvals and other closing conditions. This transaction is intended to further enhance First Cobalt’s position as a leading pure-play North American cobalt company.

On behalf of First Cobalt Corp.

Trent Mell
President & Chief Executive Officer

For more information visit www.firstcobalt.com or contact:

Heather Smiles
Investor Relations
info@firstcobalt.com
+1.416.900.3891

In Europe:
Swiss Resource Capital AG
Jochen staiger
info@resource-capital.ch
www.resource-capital.ch

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.

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First Cobalt gibt Update über Bohrungen in der Woods Extension Zone

First Cobalt Corp. (TSX-V: FCC, ASX: FCC, OTCQB: FTSSF) (das „Unternehmen“ – https://www.youtube.com/watch?v=LY4qXCoWstE&t=3s) gibt heute weitere Bohrergebnisse aus der Woods Extension Zone von Cobalt South im kanadischen Cobalt Camp bekannt. Sowohl in den Brekzienzonen als auch in den Verwerfungen wurde eine Kobaltmineralisierung entdeckt, was eine komplexe strukturelle Situation widerspiegelt, die weitere Bohrungen rechtfertigt.

Hauptmerkmale

  • Die Untersuchungsergebnisse von zwei Bohrlöchern bestätigen, dass sich die Kobaltmineralisierung über ein weites Gebiet erstreckt, einschließlich:
  • 0,47% Co und 0,50% Cu über 0,65m in FCC-18-0015
  • 0,77% Co und 2,67% Ni über 0,30m in FCC-18-0020
  • Kobalt wird in zwei verschiedenen Mineralisierungsarten in jedem Bohrloch gefunden: als von Pyrit dominierte Brekzie in Bohrbreiten bis zu 25 m, und als Ader innerhalb einer interpretierten Verwerfungsstruktur.
  • Über 250 m nördlich der früheren Frontier Mine wurde Kobaltmineralisierung in einem Gebiet gefunden, in dem noch nie zuvor gebohrt wurde.
  • Die Folgearbeiten werden fortgesetzt, einschließlich geophysikalischer Untersuchungen und bildgebender Verfahren im Bohrloch, um eine mögliche Ausrichtung der Brekzienzone und der Verwerfungen zu bestimmen. Weitere Bohrungen sind im Laufe des Jahres geplant.

Trent Mell, Präsident & Chief Executive Officer, erläuterte:

„Wir sind weiterhin zuversichtlich in Bezug auf das Kobaltpotenzial der Woods Extension Zone. Weder in der Frontier- noch in der Keeley-Mine wurden bisher ausgedehnte Brekziengebiete entdeckt, und es werden weiterhin neue Verwerfungszonen gefunden. Wir konnten bestätigen, dass Kobalt in relativ geringer Tiefe in zwei verschiedenen Strukturen vorkommt, die bis zur Oberfläche reichen können. Das Hauptziel des Explorationsprogramms 2018 ist es, potenzielle Ziele im Cobalt Camp zu identifizieren, die für den Tagebau geeignet sein könnten.“

Die Untersuchungsergebnisse der beiden jüngsten Bohrlöcher bestätigen, dass sich die Kobaltmineralisierung über ein größeres Gebiet erstreckt als bisher in der Woods Extension Zone (Tabelle 1) bekannt war. In FCC-18-0015 tritt die Kobaltmineralisierung innerhalb einer Brekzienzone mit Pyrit auf, während in FCC-18-0020 die Kobaltadern mit einer interpretierten Verwerfung verbunden sind. Beide Schnittpunkte spiegeln eine komplexe Struktur mit Kobalt sowie Silber, Nickel und Kupfer wider, die weitere Arbeiten erfordert.

Anfang 2018 wurden 1.436 Meter Diamantbohrungen in sieben Bohrlöchern abgeschlossen, um die Kobaltmineralisierung nördlich des Frontier Mine Abbaus in der Woods Extension Zone zu erkunden. Im Jahr 2017 wurden mehrere Karbonatadern durchschnitten, was darauf hindeutet, dass sich entweder eine breite Verformungszone entwickelt hatte oder dass die Adern Woods und Watson nicht linear sind, wie frühere Aufzeichnungen andeuteten. Die Systeme der Adern Woods und Watson waren früher die produktivsten in Cobalt South und machten über 80% der Produktion in diesem Bereich des Cobalt Camps aus. Neu erkannte kobaltreiche Adern werden sowohl mit den Adern Woods und Watson als auch mit einer neuen Ader zwischen diesen beiden Strukturen in Verbindung gebracht. Die Oberflächenkartierung erbrachte, dass diese Strukturen sich wohl in nordwestlicher Richtung erstrecken.

Um an diese Ergebnisse anzuknüpfen, wurde 2018 eine Reihe von vier Löchern in ost-westlicher Richtung mehr als 200 m nördlich der Löcher von 2017 gebohrt (Abbildung 1). Weitere drei Bohrlöcher wurden in der Nähe der Bohrlöcher von 2017 gebohrt, um auf eine interpretierte Ost-West-Verwerfung zu testen, von der bisher angenommen wurde, dass sie die Adern Woods und Watson abschließt. Die hier gemeldeten neuen Kobalt-Schnittpunkte spiegeln die Identifizierung einer Mineralisierung über 250 m nördlich des unterirdischen Abbaus der Frontier Mine wider. Kupfer und Nickel in Verbindung mit Kobalt wurden zuvor in der Nähe von Frontier Mine durchschnitten, was darauf hindeutet, dass es in beiden Gebieten eine ähnliche Struktur geben könnte.

Bohrloch FCC-18-0015 ist das westlichste Loch in der Reihe und durchschneidet eine 25 m lange Zone aus Chlorit-Epidot-alteriertem und brekziösem mafischem Vulkangestein. Pyrit kommt als Adern und innerhalb der Matrix vor und füllt die brekziösen Gesteine aus. Kobaltmineralisierung findet in zwei Intervallen innerhalb der Zone statt, in der sich Chloritalterationen und Scherungen entwickelt haben. Separate Kobaltmineralien und Kalzitadern sind nicht sichtbar. Es wird vermutet, dass sie fein verteilt sind. In der gesamten Brekzienzone ist feindisperses Chalkopyrit mit Pyrit und in den alterierten Nebengesteinen zu finden. Die Ausrichtung dieser Mineralisierung ist nicht bestätigt, kann aber eine versetzte Version der Ader Woods darstellen oder Teil einer anderen nördlich verlaufenden Struktur, der Ader Beaver Lake, sein, von der bekannt ist, dass sie eine hohe Silbermineralisierung enthält.

Bohrloch FCC-18-0020 wurde in nördlicher Richtung gebohrt, um das Vorhandensein einer ost-westlichen Verwerfung zu testen, der historisch betrachtet die Adern Woods und Watson abschließt. Insgesamt sind die vulkanischen Gesteine im Bohrloch alteriert, insbesondere in 110 m Tiefe, wo ein 10 m langes Intervall von geschertem und chloritiertem Gestein mit der ost-westlichen Verwerfung zusammenfällt. Innerhalb dieses Intervalls treten Kobaltmineralien in einer separaten Kalzitader auf. Pyrit und Arsenopyrit treten über einen drei Meter breiten Halo neben der Ader auf. Nickel mit Kobaltmineralisierung wurde bereits in einem Bohrloch etwa 50 m südlich dieser Schnittstelle gemeldet (10. Januar 2018).

Die Folgearbeiten zu diesem Bohrprogramm umfassten geophysikalische Untersuchungen im Bohrloch und die Verwendung von bildgebenden Verfahren bei Bohrloch FCC-18-0015. Magnetische Intensität, Resistivität, natürliche Gammastrahlung und Aufladbarkeit wurden gemessen, um die Brekzienzone und die Kobaltmineralisierung zu kennzeichnen und festzustellen, ob geophysikalische Bodenuntersuchungen effektiv genutzt werden können. Die Bohrlochfernsehbilder werden in das vorhandene geologische Logbuch integriert, um eine mögliche Ausrichtung der Brekzienzone zu bestimmen. Eine detaillierte Kartierung in Aufschlüssen ist im Sommer möglich. Dadurch soll festgestellt werden, ob ein Ausdruck dieser Zone an der Oberfläche gefunden werden kann.

Woods Extension Zone

Die Woods Extension Zone wurde anhand von Untersuchungsergebnissen an der nördlichen Ausdehnung der Frontier Mine identifiziert. Die ersten Untersuchungsergebnisse der Frontier Mine umfassten einen Schnittpunkt von 0,83% Co und 30 g/t Ag über 0,48 Meter (2. November 2017). Dies war der erste Hinweis auf eine mögliche Erweiterung des Woods-Ader-Systems.

Die meisten durchschnittenen kobaltreichen Adern zeigen, dass sich die Mineralisierung außerhalb der silberhaltigen Adern erstreckt. Zwischen den Adern Woods und Watson wurde eine neue Kobalt-Nickel-Ader mit einem Gehalt von 0,57% Co und 1,40% Ni über 0,40 m (10. Januar 2018) gefunden, was darauf hindeutet, dass ein Netzwerk existieren könnte, in dem Verwerfungen und Falten zusammenlaufen. Die hochgradigsten Kobaltadern kommen am nördlichen Ende der Frontier Mine vor, insbesondere entlang der Ader Watson.

Qualitätssicherung und Qualitätskontrolle

First Cobalt hat ein Qualitätskontrollprogramm eingeführt, um den besten Praktiken der Branche hinsichtlich Probennahmen und Analysen zu entsprechen. Die Proben werden vom Bohrkern mit einer Länge von 30 bis 100 Zentimetern entnommen. Eine Hälfte der Kernproben wird zur Analyse eingereicht. Jeder 20. Probe werden Standard- und Leerproben hinzugefügt. Bei jeder 20. Probe wird eine Doppelprobe von viertel Kernsplittern erstellt. Die geochemischen Daten stammen von SGS Canada aus Lakefield (Ontario, Kanada). Es wurden keine Probleme in Zusammenhang mit der QA/QC festgestellt. SGS wendete bei der Analyse aller Proben eine Natrium-Peroxid-Fusion und einen ICP-Abschluss an. Kobalt-, Nickel-, Kupfer- und Bleiwerte über dem Messbereich (ein Prozent) werden gegebenenfalls mittels einer separaten Fusion und eines ICP-Abschlusses ermittelt. Hohe Silberwerte (über 1.000 Gramm pro Tonne) werden mittels gravimetrischer Abscheidung ermittelt.

Stellungnahme eines sachkundigen und kompetenten Experten

Dr. Frank Santaguida, P.Geo., ist der qualifizierte Sachverständige im Sinne von NI 43-101, welcher den Inhalt dieser Pressemitteilung geprüft und genehmigt hat. Dr. Santaguida ist ebenfalls ein Sachverständiger (gem. Definition von „Competent Person“ im JORC Code, Ausgabe 2012) und praktizierendes Mitglied der Association of Professional Geologists of Ontario (eine „anerkannte Berufsvereinigung“ hinsichtlich der Notierungsvorschriften der ASX). Dr. Santaguida ist Vollzeit-Angestellter und Vice President, Exploration bei First Cobalt. Als Sachverständiger gemäß der Definition im JORC-Code verfügt er über ausreichende Erfahrungen, die für die Qualifizierung hinsichtlich der zu übernehmenden Tätigkeit erforderlich sind.

Über First Cobalt

First Cobalt ist bestrebt, das größte reine Kobaltexplorations- und -erschließungsunternehmen der Welt zu werden. Das Unternehmen kontrolliert über 10.000 Hektar an vielversprechendem Land, das über 50 historische Minen sowie Mineralverarbeitungseinrichtungen im Cobalt Camp (Ontario, Kanada) umfasst. Die Raffinerie von First Cobalt ist die einzige zugelassene Einrichtung in Nordamerika, die in der Lage ist, Kobalt-Batteriematerialien zu produzieren.

First Cobalt ist bestrebt, mittels neuer Entdeckungs-, Mineralverarbeitungs- und Wachstumsmöglichkeiten einen Aktionärswert zu schaffen, wobei das Hauptaugenmerk auf Nordamerika gerichtet ist. Am 14. März 2018 erklärte das Unternehmen seine Absicht hinsichtlich einer freundlichen Übernahme aller Aktien von US Cobalt Inc. für sein Projekt Iron Creek in Idaho (USA). Die Transaktion unterliegt einer Genehmigung der Aktionäre und der Behörden sowie anderen Abschlussbedingungen. Diese Transaktion soll die Position von First Cobalt als führendes nordamerikanisches reines Kobaltunternehmen weiter stärken.

Über First Cobalt

First Cobalt ist der größte Grundbesitzer im Cobalt Camp in Ontario (Kanada). Das Unternehmen kontrolliert aussichtsreiche Konzessionen mit mehr als 10.000 Hektar Grundfläche und 50 historische Minen sowie eine Mühle und die einzige genehmigte Kobaltraffinerie in Nordamerika, die in der Lage ist, Batteriematerialien zu produzieren. First Cobalt begann im Jahr 2017 mit den Bohrungen im Cobalt Camp und ist bestrebt, durch neue Entdeckungen und Wachstumsmöglichkeiten einen Aktionärswert zu schaffen.

Für First Cobalt Corp.

Trent Mell
President & Chief Executive Officer

Für weitere Informationen besuchen Sie bitte unsere Website www.firstcobalt.com oder kontaktieren Sie:

Heather Smiles
Investor Relations
info@firstcobalt.com
+1.416.900.3891

In Europa:
Swiss Resource Capital AG – Jochen Staiger
info@resource-capital.chwww.resource-capital.ch

Weder die TSX Venture Exchange noch deren Regulierungsdienstleister (entsprechend der Definition dieses Begriffs in den Richtlinien der TSX Venture Exchange) übernehmen die Verantwortung für die Angemessenheit oder Richtigkeit dieser Pressemitteilung.

Hinweis zu zukunftsgerichteten Aussagen

Diese Pressemitteilung enthält zukunftsgerichtete Aussagen und zukunftsgerichtete Informationen (zusammen als „zukunftsgerichtete Aussagen“ bezeichnet) im Sinne der gültigen Wertpapiergesetze und des United States Private Securities Litigation Reform Act of 1995. Sämtliche Aussagen in dieser Pressemitteilung, außer Angaben über historische Tatsachen, sind zukunftsgerichtete Aussagen. Im Allgemeinen können als zukunftsgerichtete Aussagen diejenigen Angaben bezeichnet werden, die Begriffe wie „planen“, „erwarten“, „schätzen“, „beabsichtigen“, „antizipieren“, „glauben“ oder die Ableitungen derartiger Wörter enthalten, oder Erklärungen, dass bestimmte Handlungen, Ereignisse oder Ergebnisse „möglicherweise“ „eintreten“ oder „erzielt werden“ „könnten“ oder „würden“. Die zukunftsgerichteten Informationen in dieser Pressemitteilung beinhalten insbesondere, jedoch nicht beschränkt auf (i) Annahmen und Erwartungen hinsichtlich der Transaktion der geplanten Vereinbarung, der zufolge First Cobalt alle emittierten und ausstehenden Aktien von US Cobalt Inc. („USCO“) erwerben wird, (ii) die zukünftigen Erkundungsgebiete des fusionierten Unternehmens und (iii) auf die Möglichkeit, die Raffinerie von First Cobalt zu nutzen. Zukunftsgerichtete Aussagen beinhalten Risiken, Unsicherheiten und andere Faktoren, die dazu führen können, dass tatsächliche Ergebnisse, Leistungen und Möglichkeiten erheblich von denen abweichen, die in diesen zukunftsgerichteten Aussagen zum Ausdruck gebracht werden. Zu den Faktoren, die dazu führen können, dass die tatsächlichen Ergebnisse erheblich von den zukunftsgerichteten Aussagen abweichen, gehören auch die Verlässlichkeit der historischen Daten, auf die in dieser Pressemitteilung Bezug genommen wird, sowie Risiken, die in den öffentlichen Dokumenten von First Cobalt beschrieben werden, einschließlich jeder Management Discussion and Analysis, zu finden bei SEDAR unter www.sedar.com. Auch wenn First Cobalt die Informationen und Annahmen, die diesen zukunftsgerichteten Aussagen zugrunde liegen, für angemessen hält, sollte man sich nicht übermäßig auf diese Aussagen verlassen, die nur am Tag der Veröffentlichung dieser Pressemitteilung zutreffend sind, und es kann nicht zugesichert werden, dass solche Ereignisse im angegebenen Zeitraum oder überhaupt stattfinden werden. Sofern nicht durch gültiges Gesetz gefordert, beabsichtigt First Cobalt nicht und ist auch nicht dazu verpflichtet, zukunftsgerichtete Aussagen zu aktualisieren oder zu revidieren, sei es aufgrund von neuen Informationen, zukünftigen Ereignissen oder aus sonstigen Gründen.

Die Ausgangssprache (in der Regel Englisch), in der der Originaltext veröffentlicht wird, ist die offizielle, autorisierte und rechtsgültige Version. Diese Übersetzung wird zur besseren Verständigung mitgeliefert. Die deutschsprachige Fassung kann gekürzt oder zusammengefasst sein. Es wird keine Verantwortung oder Haftung: für den Inhalt, für die Richtigkeit, der Angemessenheit oder der Genauigkeit dieser Übersetzung übernommen. Aus Sicht des Übersetzers stellt die Meldung keine Kauf- oder Verkaufsempfehlung dar! Bitte beachten Sie die englische Originalmeldung auf www.sedar.com , www.sec.gov , www.asx.com.au/ oder auf der Firmenwebsite!

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First Cobalt Identifies Potential 100 Metre Zone from First Assays in Cobalt North

First Cobalt Corp. (TSX-V: FCC, ASX: FCC, OTCQB: FTSSF) (the “Company” – https://www.youtube.com/watch?v=LY4qXCoWstE&t=3s) is pleased to announce positive assay results from the first drill holes from near the Kerr Mine in the Cobalt North area of the Cobalt Camp in Ontario, Canada. Results from these holes indicate a potential zone of cobalt mineralization that can be tracked across more than 100 metres.

Highlights

  • Two holes, collared over 160m apart, intersected cobalt mineralization considered to be continuous based on oriented core measurements
    • 41m of 0.15% Co and 44 g/t Ag including 0.75% Co and 126 g/t Ag over 0.30m in FCC-18-0023
    • 00m of 0.32% Co and 208 g/t Ag including 3.81% Co and 1,225 g/t Ag over 0.32m in FCC-18-0021
  • Three additional holes have been logged, assays are now pending, and have been interpreted to indicate a possible system that can be tracked across a zone covering more than 100m
  • Significant copper, lead and zinc also intersected indicating a broad mineralized zone more easily targeted for follow-up drilling than individual veins

Trent Mell, President & Chief Executive Officer, commented:

“Cobalt North showed significant promise during the 2017 surface sampling and mapping work. These initial results confirm some of the early ideas we have for the structural setting for this area that make it highly prospective. Indications of both disseminated and vein styles of mineralization across a network for more than 100 metres make this an attractive target for a future bulk tonnage operation. With zones of mineralization now identified in Cobalt South and Cobalt North, we are seeing multiple opportunities in the Cobalt Camp for future primary cobalt sources to supply the North American battery market.”

Results have been received from the first two holes in the Kerr Lake area drill program in Cobalt North identifying a new mineralized zone (Figure 1). Cobalt and silver occur as minerals within both quartz and calcite veins, as well as disseminated in the wallrock. Assays from FCC-18-0023 returned 10.41m of 0.15% Co and 44 g/t Ag, including 0.30m of 0.75% Co and 126 g/t Ag, from approximately 50m below surface. Hole FCC-18-0023 was collared over 160m to the southwest of FCC-18-0021 and intersected mineralization of 2.00m of 0.32% Co and 208 g/t Ag, including 3.81% Co and 1,225 g/t Ag over 0.32m.

Mineralization is interpreted as continuous between these two holes based on core orientation measurements. Both holes were drilled using core orientation tools to accurately measure the strike and dip of veins, lithological contacts and other structures. Individual veins at various orientations have been intersected but the general trend of veining is eastward. An additional three holes have been drilled in between and along strike of the major veining trend with assays now pending. Logging of these holes indicates a potential network of mineralization
across more than 100m.

Figure 1. Bedrock geology and location of drilling stations. Silver-cobalt veins are compiled from historic maps and locations should not be considered exact.

In hole FCC-18-0021, anomalous zinc (>0.4%) occurs as a broad zone, from 64.85 to 73.00m, as a halo around the cobalt-silver mineralization. The occurrence of copper, zinc and lead coincident in both holes with cobalt and silver represents multiple stages of fluids carrying metals that have concentrated along a conduit as a broad zone of mineralization. This broad zone is interpreted to have developed along the limb of an antiform, folding both the Huronian sedimentary rocks and the underlying Archean volcanic and sedimentary rocks. The Nipissing Diabase is also folded along this antiform. The contrast in competency between the Diabase and the surrounding rocks may have allowed this broad mineralization zone to develop. The extensive vein network mined at the Lawson, Kerr, Drummond mines and beneath Kerr Lake is interpreted to comprise the other limb of the antiform, making the geologic setting of this entire area prospective for cobalt-silver and copper-zinc-lead mineralization.

 

Drilling lengths are as recorded downhole and do not necessarily represent true widths of mineralization as multiple vein orientations have been intersected.

For a table of drill hole locations and assay results to date, visit https://firstcobalt.com/projects/greater-cobalt-project.

Historic mining was prolific from several underground operations at Drummond, Kerr, Lawson, Hargrave and Conisil. Mining began in 1905 and the most recent mining occurred at Conisil between 1961 to 1965. Over 37 million ounces silver and more than 900,000 pounds cobalt were produced from these mines. Historic mining in the immediate area of drilling focused on north-south trending veins. Modelling by First Cobalt of historic drilling and regional structural interpretations revealed an eastward trending structure parallel to the main trend of folding. Drill holes were then targeted on this interpreted structural zone where host rocks are folded and locally faulted. The lack of underground mining along this eastward trend may reflect the cobalt-rich content of mineralization.

Cobalt North

First Cobalt’s properties in the Cobalt North area include the past-producing Drummond, Kerr, Silver Banner, Juno, Silverfields, Hamilton, Ophir, Lawson and Conisil mines. Cobalt has not previously been an exploration focus in this area although limited exploration activities in the 1970’s and 1980’s around Kerr Lake focused on Cu-Zn-Pb mineralization within the Archean rocks. Cobalt had not been assayed previously, so the potential for an extensive polymetallic mineralization system remains to be explored.

The 2018 Cobalt North drill program consists of 17,000 metres with 3,500 metres in the Kerr Lake area designed to test trends in mineralization found in historic drilling and major structures interpreted to be associated with mineralization. Disseminated polymetallic cobalt-silver-copper-zinc-lead mineralization has been recognized in samples from underground material in muckpiles from the Drummond mine showing a wide range of styles occur in this area (October 26, 2017 press release).

Quality Assurance and Quality Control

First Cobalt has implemented a quality control program to comply with common industry best practices for sampling and analysis. Samples are collected from drill core from a range of 30 to 100cm length. Half-core samples are submitted for analysis. Standards and blanks are inserted every 20 samples. Duplicates are made from quarter core splits every 20 samples. Geochemical data were received from SGS Canada in Lakefield, Ontario, Canada. No QA/QC issues have been noted. SGS has used a sodium-peroxide fusion and ICP finish for analyses on all samples. Over-range (>1%) Co, Ni, Cu, Zn, and Pb are determined by a separate fusion and ICP finish. High silver values (>1000 g/t) are determined by gravimetric separation and fire assay finish.

Qualified and Competent Person Statement

Dr. Frank Santaguida, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the contents of this news release. Dr. Santaguida is also a Competent Person (as defined in the JORC Code, 2012 edition) who is a practicing member of the Association of Professional Geologists of Ontario (being a ‘Recognised Professional Organisation’ for the purposes of the ASX Listing Rules). Dr. Santaguida is employed on a full-time basis as Vice President, Exploration for First Cobalt. He has sufficient experience that is relevant to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code.

About First Cobalt

First Cobalt aims to create the largest pure-play cobalt exploration and development company in the world. The Company controls over 10,000 hectares of prospective land covering over 50 historic mines as well as mineral processing facilities in the Cobalt Camp in Ontario, Canada. The First Cobalt Refinery is the only permitted facility in North America capable of producing battery materials.

First Cobalt seeks to build shareholder value through new discovery, mineral processing and growth opportunities, with a focus on North America. On March 14, 2018, the Company proposed a friendly, all-share acquisition of US Cobalt Inc. for its Iron Creek Project in Idaho, U.S. The transaction remains subject to shareholder and regulatory approvals and other closing conditions. This transaction is intended to further enhance First Cobalt’s position as a leading pure-play North American cobalt company.

On behalf of First Cobalt Corp.

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First Cobalt Intersects High Grade Cobalt at Bellellen

First Cobalt Corp. (TSX-V: FCC, ASX: FCC, OTCQB: FTSSF) (the “Company” – https://www.youtube.com/…) today announced positive drill results from the historic Bellellen mine in the Cobalt Camp, Ontario. These early results confirm the presence of high grade cobalt and nickel along the known Bellellen vein system south of the historic mine workings.
Highlights
• 2.0 metres of 0.78% Co and 0.83% Ni, including 1.1 metres of 1.35% Co and 1.47% Ni along the Bellellen Vein system that extends for approximately 300 metres of strike length
• Several calcite veins and disseminated zones of mineralization have been intersected
• Assays pending for additional 12 holes drilled as part of the 1,100m program at Bellellen
• Further support to the thesis of metal zoning of cobalt-nickel rich versus silver rich areas within a single hydrothermal system; a relationship seen elsewhere in the Camp

Trent Mell, President & Chief Executive Officer, commented:
“First assays from Bellellen drilling confirm the grades found in muckpile material sampled in 2017 and support our view that we now have a third area of interest in the Cobalt Camp. The Bellellen structure has adequate strike length to remain a priority target. Our 2018 drill strategy is to test several new target areas to confirm the cobalt grades of known systems throughout the Camp and then focus on those of sufficient size to support large tonnage operations.”

Drilling at Bellellen began in January 2018 with 13 holes completed for over 1,100 metres. The program was intended to confirm the presence of cobalt-nickel mineralization away from historic mining and to identify the distribution of both vein-style and disseminated-style mineralization previously sampled from underground material.

Drill holes targeted the north-south trending Bellellen Vein and the northeast trending Frontier 2 Vein (Figure 1). In places, two holes were collared at the same location with different dip orientation to determine the direction of the veins.

Assays have been received from hole FCC-18-0007, returning 2.0m of 0.78% Co and 0.83% Ni, including 1.1m of 1.35% Co and 1.47% Ni. The mineralized intercept was about 20m from surface in a zone containing several veins (Figure 2). The highest grade of 2.40% Co over 0.3m represents visible cobalt minerals that also likely contain nickel. Anomalous cobalt (>0.05%) occurs within wallrocks on the margins of the high grade zone without visible veining. Fine disseminated cobalt minerals are likely present. Silver is relatively low suggesting the Bellellen area may represent a cobalt-nickel rich zonation in proximity to the silver-rich vein system at Keeley-Frontier.

Table 1. Summary of assay results from hole FCC-18-0007
From To Width Co Ag Ni
Sample ID – m – m – m – % – g/t – %
E6607467 – 26.2 – 26.5 – 0.3 – 0.05 – 2 – 0.03
E6607468 – 26.5 – 26.8 – 0.3 – 0.73 – 1 – 1.26
E6607469 – 26.8 – 27.3 – 0.5 – 1.11 – 3 – 1.78
E6607470 – 27.3 – 27.6 – 0.3 – 2.40 – 2 – 1.18
E6607472 – 27.6 – 28.2 – 0.6 – 0.05 – 4 – 0.02
average – 26.2 – 28.2 – 2.0 – 0.78 – 3 – 0.83
including – 26.5 – 27.6 – 1.1 – 1.35 – 2 – 1.47

Note: Lengths are measured along the drill core and true widths of mineralization are not known at this time.
Several holes in this program intersected carbonate veins containing cobalt-nickel minerals as well as pyrite, pyrrhotite and chalcopyrite. In some holes tight folding of the volcanic rocks is evident and the Nipissing Diabase appears to be deeper than expected from bedrock mapping. The overall structural interpretation of the Bellellen area is ongoing to determine if these high grade cobalt-nickel veins are locally concentrated where folds converge.

Figure 1. Bedrock geology and location of drilling stations in the 2017 drilling program. Silver-cobalt veins shown are compiled from historic maps and locations shown not be considered exact.
Cobalt-bearing minerals in hole FCC-18-0007 occur as discrete bands associated with small, centimetre-sized calcite veins occurring within chloritized mafic volcanic rocks. Disseminated pyrite and arsenopyrite occur in the wallrocks of the veins. Arsenopyrite is associated with anomalous cobalt. The hole was collared over 150m south of the main Bellellen mine shaft. Drill holes FCC-18-0008 and FCC-18-0013 were drilled to test the dip extension of the cobalt mineralization in FCC-18-0007. Disseminated pyrite and arsenopyrite as well as calcite veins have also been noted in these holes.

Elsewhere in the Cobalt Camp at the Silverfields mine, high cobalt-nickel mineralization occurs along the margin of high grade silver veins, defining an extensive system. Silverfields produced approximately 18 million ounces of silver and was one of the largest producers, with over one million tonnes milled, in the Cobalt Camp.

Figure 2. East-west geologic cross section of FCC-18-0007 and nearby drill holes. The section is 40m thick. Grid blocks are 50m by 50m. Easting co-ordinates are in UTM NAD83 Zone 17 co-ordinate system.
For a table of drill hole assay results to date, visit https://firstcobalt.com/….

Bellellen Mine
Mining at Bellellen mine began in 1909 around the same time the Haileybury, Frontier and Keeley mines began operations. The Bellellen mine contained high cobalt content relative to silver, thus it struggled to be economically viable in a silver mining era. Bellellen had intermittent production until 1943, when 12.3 tons of ore were shipped containing 9.25% Co and 11.55% Ni.
At Bellellen, the Nipissing Diabase has been interpreted at a depth of 125 metres below surface within a fold hinge. Between surface and the diabase, a thick sequence of mafic volcanic rocks occurs, suggesting depth potential to the known Co-Ag mineralization may exist in this area.

Samples from surface muckpiles at Bellellen returned high values of Co coincident with Ag, Ni and Cu in various styles of mineralization (see September 28, 2017 press release). Mineralogy work on disseminated style mineralization found Co as glaucodot (Co,Fe)AsS as well as Co-bearing pyrite (see October 5, 2017 press release). This style of mineralization had not previously been recognized in the Cobalt Camp and suggests a broad hydrothermal system may be present at Bellellen.
Quality Assurance and Quality Control

First Cobalt has implemented a quality-control program to comply with common industry best practices for sampling and analyses. Samples are collected from drill core from a range of 30 to 100cm length. Half-core samples are submitted for analyses. Standards and blanks are inserted every 20 samples. Duplicates are made from quarter core splits every 20 samples. Geochemical data were received from SGS Canada in Lakefield, Ontario, Canada. No QA/QC issues have been noted. SGS has used a sodium-peroxide fusion and ICP finish for analyses on all samples. Over-range (> 1%) Co and Ni are determined by a separate fusion and ICP finish.
Qualified and Competent Person Statement

Dr. Frank Santaguida, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the contents of this news release. Dr. Santaguida is also a Competent Person (as defined in the JORC Code, 2012 edition) who is a practicing member of the Association of Professional Geologists of Ontario (being a ‘Recognised Professional Organisation’ for the purposes of the ASX Listing Rules). Dr. Santaguida is employed on a full-time basis as Vice President, Exploration for First Cobalt. He has sufficient experience that is relevant to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code.

About First Cobalt
First Cobalt is the largest land owner in the Cobalt Camp in Ontario, Canada. The Company controls over 10,000 hectares of prospective land and 50 historic mines as well as a mill and the only permitted cobalt refinery in North America capable of producing battery materials. First Cobalt began drilling in the Cobalt Camp in 2017 and seeks to build shareholder value through new discovery and growth opportunities.

On behalf of First Cobalt Corp.
Trent Mell
President & Chief Executive Officer
For more information visit www.firstcobalt.com or contact:
Heather Smiles
Investor Relations
info@firstcobalt.com
+1.416.900.3891
In Europe:
Swiss Resource Capital AG
Jochen Staiger
info@resource-capital.ch
www.resource-capital.ch

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.
Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects‘, "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include the reliability of the historical data referenced in this press release and risks set out in First Cobalt’s public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com. Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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Fission landet weiteren Volltreffer und brachte die bisher beste Bohrung auf PLS nieder!

Die kanadische Uran-Explorationsgesellschaft Fission Uranium Corp. (ISIN: CA33812R1091 / TSX: FCU) gab nun auch die letzten noch ausstehenden Analyseergebnisse bekannt. Und diese hatten es wiedereinmal in sich. Fission erreichte einen neuen Rekord, was die Gehalte und Strecken angeht. Diese zuletzt niedergebrachten Bohrungen wurden unter anderem im Rahmen der Materialsammlung für repräsentative metallurgische Mischproben niedergebracht, die im externen Labor für eine aktuelle Ressourcenschätzung getestet wurden. Vorab gesagt, die Labortests und Bohrergebnisse waren sehr gut. Natürlich, wie von Fission Uranium gewohnt, stieß man wieder sehr Oberflächennah auf hohe Urangehalte.

So zum Beispiel die Bohrung ‚PLS17-MET-C’, die beste der drei Bohrungen. In dieser wurde eine zusammengefasste Vererzung über 144,0 m identifiziert, in der sogar über einen 108,0 m langen Abschnitt 8,46 % U3O8 durchteuft wurde. Dies ist bis dato der längste durchgehend vererzte Abschnitt innerhalb der mittlerweile weltbekannten ‚Triple R’-Lagerstätte und ist sogar einer der längsten im gesamten Athabasca Becken Kanadas.

Im Detail durchteufte die Bohrung ‚PLS17-MET-C’, die übrigens innerhalb der ‚Line 660E’ niedergebracht wurde, über 108,0 m 8,46 % U3O8, beginnend ab oberflächennahen 56,5 m und endet demnach bei 164,5 m. Darin enthalten ist ein 9,0 m langer Bereich, beginnend ab 63,0 m Tiefe, mit 12,69 % U3O8, sowie ab 76,5 m ein 23,0 m langer Abschnitt mit 15,43 % U3O8, der demzufolge bis in eine Tiefe von 99,5 m reicht. In zunehmender Tiefe wurden dann noch über 8,5 m, von 139,0 m bis 147,5 m, 27,66 % U3O8 geschnitten. In den tieferen Bereichen bis 210,5 m nahmen die Gehalte über einen 21,5 m langen Abschnitt, ab 189,0 m mit 1,9 % U3O8 etwas ab, wobei bei zunehmender Tiefe wieder 4,17 % über 8,5 m, von 197,5 bis 206,0 m, vorgefunden wurden.

Kaum weniger erfolgreich ist die Bohrung ‚PLS17-MET-E’ von der ‚Linie 845E’. In dieser Bohrung wurden über 65,5 m, ab einer Tiefe von 115,5 m bis 181,0 m, 3,40 % U3O8, einschließlich 8,0 m mit 22,28 % U3O8, ab 139,5 m bis 147,5 m, sowie 2,5 m mit 8,26 % U3O8, ab 162,0 m bis 164,5 m, durchteuft.

Etwas kürzere Strecken bei immer noch ordentlichen Gehalten lieferte die Bohrung ‚PLS17-MET-W’, die auf der ‚Linie 335E’ niedrgebracht wurde. Hier durchteufte Fission über 45,5 m 1,88 % U3O8 bereits ab oberflächennahen 57,0 m, die dann bis in eine Tiefe von 102,5 m reichen. Darin enthalten ist sogar ein Abschnitt mit 19,19 % U3O8 über 1,0 m, ab einer Tiefe von 62,0 m, sowie 6,64 % U3O8 über 5,0 m, beginnend ab 87,5 m Tiefe und 22,5 m mit 1,40 % U3O8 ab 115,0 m Tiefe, worin im Bereich 122,0 m bis 123,5 m 7,59 % U3O8 und im Bereich 135,5 m bis 137,0 m 8,97% U3O8 gemessen wurden.

Zudem lieferten die bisher durchgeführten Produktions-Studien sehr gute Ergebnisse, was schon jetzt auf einen sehr kostengünstigen Abbau schließen lässt. Aufgrund des nur sehr wenig verunreinigten, hochgradigen ‚Patterson Lake South’-Erzes (‚PLS’) konnte bei den bisherigen Versuchen trotz nur kurzer Laugungszeiten bei niedrigen Säurekonzentrationen und niedriger Temperatur eine sehr hohe Uranausbringung ermittelt werden.

Dementsprechend zufrieden äußerte sich Ross McElroy, der President, COO und Chef-Geologe von Fission Uranium – https://www.youtube.com/watch?v=AudsaLrYPgM&t=40s -. „Die Metallurgie- und Aufbereitungsdaten sind ein wichtiger Bestandteil der Vormachbarkeitsstudie. Wir sind mit der bemerkenswerten Stärke der vererzten Analysenergebnisse sehr zufrieden, besonders mit denen aus der Bohrung ‚PLS17-MET-C’. Diese Bohrung ist mit einer zusammengefassten GT-Punktzahl von 958,9 die beste Bohrung die bisher auf ‚PLS’ niedergebracht wurde und sogar eine der besten Bohrungen im gesamten Athabasca Basin – das die höchstgradigsten Uranlagerstätten der Welt beherbergt.“ Zudem sei die Vererzung entlang des Streichens sowohl in Richtung Westen als auch in Richtung Osten weiterhin offen. Aber auch die sehr positiven vorläufigen Untersuchungsergebnisse seien im höchsten Maße erfreulich. Diese bisher sehr guten Ergebnisse seien aufgrund des relativ weichen Erz-Materials und der dadurch relativ einfachen Mahlbarkeit eine sehr gute Ausgangsbasis für einen kosteneffizienten Abbau.

Die metallurgischen Testarbeiten werden derweil von SGS Canada Inc. unter der Leitung von Melis Engineering Ltd. weiter fortgeführt, um ausreichend Prozessentwicklungsdaten für eine Vormachbarkeitsstudie für ‚PLS’ zu ermitteln. Dazu wurden insgesamt 12 Mischproben zusammengestellt und vermischt, die die verschieden Lithologien im West-, Zentral- und Ostteil der Lagerstätte repräsentieren.

Gemäß §34 WpHG weise ich darauf hin, dass JS Research oder Mitarbeiter des Unternehmens jederzeit eigene Geschäfte in den Aktien der vorgestellten Unternehmen erwerben oder veräußern (z.B. Long- oder Shortpositionen) können. Das gilt ebenso für Optionen und Derivate, die auf diesen Wertpapieren basieren. Die daraus eventuell resultierenden Transaktionen können unter Umständen den jeweiligen Aktienkurs des Unternehmens beeinflussen. Die auf den "Webseiten", dem Newsletter oder den Research-Berichten veröffentlichten Informationen, Empfehlungen, Interviews und Unternehmenspräsentationen werden von den jeweiligen Unternehmen oder Dritten (sogenannte "third parties") bezahlt. Zu den "third parties" zählen z.B. Investor Relations- und Public Relations-Unternehmen, Broker oder Investoren. JS Research oder dessen Mitarbeiter können teilweise direkt oder indirekt für die Vorbereitung, elektronische Verbreitung und andere Dienstleistungen von den besprochenen Unternehmen oder sogenannten "third parties" mit einer Aufwandsentschädigung entlohnt werden. Auch wenn wir jeden Bericht nach bestem Wissen und Gewissen erstellen, raten wir Ihnen bezüglich Ihrer Anlageentscheidungen noch weitere externe Quellen, wie z.B. Ihre Hausbank oder einen Berater Ihres Vertrauens, hinzuzuziehen. Deshalb ist auch die Haftung für Vermögensschäden, die aus der Heranziehung der hier behandelten Ausführungen für die eigenen Anlageentscheidungen möglicherweise resultieren können, kategorisch ausgeschlossen. Die Depotanteile einzelner Aktien sollten gerade bei Rohstoff- und Explorationsaktien und bei gering kapitalisierten Werten nur so viel betragen, dass auch bei einem Totalverlust das Gesamtdepot nur marginal an Wert verlieren kann.

Besonders Aktien mit geringer Marktkapitalisierung (sogenannte "Small Caps") und speziell Explorationswerte sowie generell alle börsennotierten Wertpapiere sind zum Teil erheblichen Schwankungen unterworfen. Die Liquidität in den Wertpapieren kann entsprechend gering sein. Bei Investments im Rohstoffsektor (Explorationsunternehmen, Rohstoffproduzenten, Unternehmen die Rohstoffprojekte entwickeln) sind unbedingt zusätzliche Risiken zu beachten. Nachfolgend einige Beispiele für gesonderte Risiken im Rohstoffsektor: Länderrisiken, Währungsschwankungen, Naturkatastrophen und Unwetter (z.B. Überschwemmungen, Stürme), Veränderungen der rechtlichen Situation (z.B. Ex- und Importverbote, Strafzölle, Verbot von Rohstoffförderung bzw. Rohstoffexploration, Verstaatlichung von Projekten), umweltrechtliche Auflagen (z.B. höhere Kosten für Umweltschutz, Benennung neuer Umweltschutzgebiete, Verbot von diversen Abbaumethoden), Schwankungen der Rohstoffpreise und erhebliche Explorationsrisiken.

Disclaimer: Alle im Bericht veröffentlichten Informationen beruhen auf sorgfältiger Recherche. Die Informationen stellen weder ein Verkaufsangebot für die besprochenen Aktien, noch eine Aufforderung zum Kauf oder Verkauf von Wertpapieren dar. Dieser Bericht gibt nur die persönliche Meinung von Jörg Schulte wider und ist auf keinen Fall mit einer Finanzanalyse gleichzustellen. Bevor Sie irgendwelche Investments tätigen, ist eine professionelle Beratung durch ihre Bank unumgänglich. Den Ausführungen liegen Quellen zugrunde, die der Herausgeber und seine Mitarbeiter für vertrauenswürdig erachten. Für die Richtigkeit des Inhalts kann trotzdem keine Haftung übernommen werden. Für die Richtigkeit der dargestellten Charts und Daten zu den Rohstoff-, Devisen- und Aktienmärkten wird keine Gewähr übernommen. Die Ausgangssprache (in der Regel Englisch), in der der Originaltext veröffentlicht wird, ist die offizielle, autorisierte und rechtsgültige Version. Diese Übersetzung wird zur besseren Verständigung mitgeliefert. Die deutschsprachige Fassung kann gekürzt oder zusammengefasst sein. Es wird keine Verantwortung oder Haftung: für den Inhalt, für die Richtigkeit, der Angemessenheit oder der Genauigkeit dieser Übersetzung übernommen. Aus Sicht des Übersetzers stellt die Meldung keine Kauf- oder Verkaufsempfehlung dar! Beachten Sie unbedingt die englischen Originalmeldungen der jeweiligen Unternehmen.

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First Cobalt Intersects Three Cobalt Veins at Keeley

First Cobalt Corp. (TSX-V: FCC, ASX: FCC, OTCQB: FTSSF) (the “Company” – https://www.youtube.com/… ) is pleased to announce new positive drill results from its 2017 drill program, confirming the presence of three cobalt bearing veins to the southwest of the past-producing Keeley mine in the Canadian Cobalt Camp. First Cobalt’s 2017 drill campaign is targeting cobalt mineralization over a two kilometre strike length, representing less than two percent of its land package with several known historic cobalt-rich mines.

Highlights

• 0.12% Co over 5.50m, including 0.68% Co over 0.34m in the Woods vein system which, together with the Watson vein, accounted for over 80% of the production in the Cobalt South area of the Cobalt Camp
• Greater than 1.00% Co over 0.42m* in the KeeleyCo#1 vein and 0.60% Co over 0.38m in the KeeleyCo#2 vein
• KeeleyCo#1 and KeeleyCo#2 veins are two metres apart and are interpreted as parallel structures to the Woods vein, where only minor mine workings exist
• Zinc and lead intersected as part of a hydrothermal halo around the vein systems provides another example of previously unknown metal zoning now seen elsewhere in the Cobalt Camp

Trent Mell, President & Chief Executive Officer, commented:

“We have identified cobalt mineralization to the north and south of the historic Keeley and Frontier silver-cobalt mines. Intersecting meaningful cobalt veins at the Woods Vein Extension and now at the southern extent of the Keeley mine has provided important data points and insights into historic mining operations. We are learning valuable structural information in this first drill program that will be applied to an ambitious camp-wide drill program commencing in January 2018.”

Keeley 5 Results

Assays have been received from an additional nine holes from four target areas: Keeley 5 shaft area, Keeley 2, Haileybury and Frontier 1. The most significant results were in drillhole KF-KD-0005 which intersected three different cobalt veins in an area south of the historic Keeley mine and to the west of the Woods Vein (Figure 1).

Table 1. Assay Results Summary for KF-KD-0005
From To Length Co Ag Ni Cu Zn Pb
Vein m m m % g/t % % % %
Woods 75.00 80.50 5.50 0.12 109 0.03 0.02 0.06 0.20
Including 78.42 78.76 0.34 0.68 >1,000* 0.84 0.11 0.53 >1.00*
KeeleyCo #1 198.62 199.00 0.38 0.60 5 0.06 0.02 0.01 0.00
KeeleyCo #2 201.00 201.42 0.42 >1.00* 6 0.55 0.02 0.00 0.00
*Note: Over-range assays are pending for Co (1%), Ag (1000g/t), and Pb (1%)

The Keeley 5 shaft area was targeted because historic mining assays reported high values for cobalt and nickel over several metres at the 8th Level, approximately 130 metres below surface outlining another vein system west of the Woods Vein. Drillhole KF-KD-0005 targeted below a ten metre length of historic workings along the Woods vein, which was assumed to occur as a single cobalt-nickel vein (Figure 2). Assays from this hole returned two additional cobalt intercepts, the KeeleyCo#1 vein and the KeeleyCo#2 vein, suggesting more than one vein occurs in this area.

Limited workings were developed into the KeeleyCo#1 and KeeleyCo#2 veins for test mining and it is believed they were abandoned due to the low silver, high cobalt nature of the veins. A total of five drillholes targeted this area in the current drilling program. The grades in these new cobalt veins, ranging from 0.60% to 1.00% Co or greater, are consistent with other known veins in Cobalt South such as Haileybury and Frontier 1. Skudderudite is the dominant Co-mineral and niccoline is the dominant Ni-mineral; both identified in drillcore logging. Over-range assays are pending for the >1% Co value, which will be calculated with an ICP finish.

Figure 1. Bedrock geology of the Keeley-Frontier-Bellellen mines in Cobalt South area.

Similar cobalt-nickel mineralization to KF-KD-0005 has also been logged in KF-KD-0004 further south. Assays are pending for this hole, but cobalt and nickel mineralization has been identified using a portable X-Ray Fluorescence (XRF) analyzer.
Both drillholes have been surveyed using borehole electromagnetics (EM) and an in-hole response was detected in each. An off-hole response was detected in KF-KD-0004 as well, suggesting the intersections are part of a vein system developed west of the Woods Vein. Results may indicate a multiple cobalt-bearing vein system in the area. Cobalt veining is interpreted to extend to mineralization intersected further south and is open along strike to the north.
Follow-up drilling is planned for this area in January to test the cobalt vein system along strike and closer to surface.

Woods Vein

Cobalt mineralization was intersected in the Woods Vein along with high grade silver. Zinc and lead were also intersected, reflecting a broader hydrothermal system capable of transporting metals. This broader hydrothermal system was noted in previous assay results from the Woods Vein Extension, but has not been well documented by previous companies in the Cobalt Camp.

Drillhole KF-KD-0005 intersected 0.12% Co over 5.50m, including 0.68% Co over 0.34m. The 0.34m intercept also assayed at >1,000 g/t Ag, 0.84% Ni, 0.53 Zn and >1.00% Pb. Presently, results have not been received for over-range assays. Fire assay methods will be used for silver and an ICP finish for elevated Co and Pb will be completed. The Woods and Watson vein system accounted for over 80% of the production in the Cobalt South area of the Cobalt Camp.

Figure 2: East-west cross section showing KF-KD-0005 and nearby drillholes.

The intersection of the Woods Vein appears as a zone of broken core containing abundant clay material. The host rocks are highly silicified and brittle in nature so fracture easily. Core recovery was poor; as such the complete vein may not have been adequately sampled.

Other Targets

First Cobalt has completed 61 holes in its maiden drill campaign in the Canadian Cobalt Camp. The 6,366 metre diamond drilling program was designed to test vein sets mapped in outcrop in ten areas known to be cobalt-rich over a two kilometre strike length encompassing the past producing Keeley, Frontier, Haileybury and Bellellen mines. All drill holes have been geologically logged, sampled and submitted for assays and multi-element geochemistry; assay results have been returned from 17 holes, including those reported in this release.

At the Woods Vein Extension area, assays previously reported from four holes were returned with anomalous metals in separate veins including 0.83% Co and 30 g/t Ag over 0.48 metres in one hole north of the Frontier Mine (see November 2, 2017 press release).
At Frontier 1, results from five of nine holes have been received, which included a previously reported new silver-bearing vein intersected in one of the holes: 27.75 g/t Ag and 0.10% Cu over 9.53 metres (see November 2, 2017 press release). The drilholes targeted calcite stockwork veining and cobalt mineralization mapped at surface and from historic underground plans.

A total of seven holes were drilled at Haileybury. Assay results from four holes were previously reported and an additional hole has also returned no significant Co values (<0.02% Co) despite intersecting calcite veins similar to the vein exposed at surface containing Co and Ni. These results suggest the mineralizing structure here is not well developed.

At Keeley 2 in the eastern portion of the Keeley mine, assays were received from two drillholes without significant Co values.

For a table of drill hole locations and assay results to date, visit https://firstcobalt.com/….

Next Steps

The 2017 drill program was designed to test structures to learn more about vein orientations and determine the grades in the host rocks to known Ag-Co calcite veins and in the veins themselves. Cobalt had been identified near the Woods Vein and Watson Vein, the main sources of silver at the Keeley and Frontier mines, as well as recorded on historic underground mine maps, making them a logical starting point for the drill program.

All drill data, downhole geophysical surveys, bedrock geochemical surveys and interpretations from the summer-fall mapping at the Keeley-Frontier property are being incorporated into a 3D geological model for 2018 exploration work which will include a much larger drill campaign. Successful results from the Company’s electromagnetic surveys (announced December 12, 2017) have prompted testing of a new ground-based electromagnetic system to determine if the cobalt veins encountered by drilling can be detected from surface.

Recent surface sampling results including the Drummond, Juno and Silver Banner mines in Cobalt North, the Caswell mine in Cobalt Central and the Bellellen mine in Cobalt South, together with 2017 drilling assays, will be integrated into First Cobalt’s geological model to plan the 2018 drill program.

Quality Assurance and Quality Control

First Cobalt has implemented a quality-control program to comply with common industry best practices for sampling and analyses. Samples are collected from drill core from a range of 30 to 100cm length. Half-core samples are submitted for analyses. Standards and blanks are inserted every 20 samples. Duplicates are made from quarter core splits every 20 samples. Geochemical data were received from SGS Minerals laboratories in Lakefield, Ontario, Canada. No QA/QC issues have been noted. SGS Laboratories has used a sodium-peroxide fusion and ICP finish for analyses on all samples.

Qualified and Competent Person Statement

Dr. Frank Santaguida, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the contents of this news release. Dr. Santaguida is also a Competent Person (as defined in the JORC Code, 2012 edition) who is a practicing member of the Association of Professional Geologists of Ontario (being a ‘Recognised Professional Organisation’ for the purposes of the ASX Listing Rules). Dr. Santaguida is employed on a full-time basis as Vice President, Exploration for First Cobalt. He has sufficient experience that is relevant to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code.

About First Cobalt

First Cobalt is the largest land owner in the Cobalt Camp in Ontario, Canada. The Company controls over 10,000 hectares of prospective land and 50 historic mines as well as a mill and the only permitted cobalt refinery in North America capable of producing battery materials. First Cobalt began drilling in the Cobalt Camp in 2017 and seeks to build shareholder value through new discovery and growth opportunities.

On behalf of First Cobalt Corp.

Trent Mell

President & Chief Executive Officer

For more information visit www.firstcobalt.com or contact:

Heather Smiles
Investor Relations
info@firstcobalt.com
+1.416.900.3891

In Europe:
Swiss Resource Capital AG – Jochen Staiger
info@resource-capital.ch – www.resource-capital.ch

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.

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects‘, "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include the reliability of the historical data referenced in this press release and risks set out in First Cobalt’s public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com. Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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What’s next: LeasePlan richtet den Fokus jetzt auch auf kleine und mittelständische Unternehmen

Aufbauend auf dem Know-how aus dem Fuhrpark-Leasing und -management für Großunternehmen hat LeasePlan sein Geschäft auf kleine und mittelständische Unternehmen erweitert. Ab sofort gibt es Autoleasing schnell, sicher und fair schon ab einem Fahrzeug. Dabei müssen Unternehmen mit einem kleineren Fuhrpark nicht auf Serviceleistungen verzichten, sondern profitieren vom umfangreichen Rundum-Sorglos-Angebot eines der größten Anbieter der Welt. LeasePlan kümmert sich um die Mobilität, der Kunde um sein Kerngeschäft – vom Apotheker bis zum Zimmermann.

Click & Drive

Seit wenigen Tagen live im Internet bietet Click & Drive von LeasePlan für Unternehmer und Gewerbetreibende erstmals die Möglichkeit, ein Fahrzeug online auszuwählen, das Angebot anzufordern und den Vertrag einzureichen. Riesenvorteil hier: die zur Auswahl stehenden vorkonfigurierten Fahrzeuge beschleunigen den Prozess, damit Kunden bereits eine Woche nach Vertragsabschluss in ihr Leasingfahrzeug einsteigen und losfahren können. Und damit sie immer gut unterwegs sind, gibt es das Leasingfahrzeug mit einem Rundum-Sorglos-Paket. Dazu zählt: Instandhaltung inkl. Pannenhilfe und UVV-Prüfung, Reifen, Tankkarten, Kfz-Versicherung, Schadenservice und Kfz-Steuer. Einen großen Vorteil gibt es auch bei der Rückgabe: Schäden sind bis 1.000 Euro Minderwert bzw. bei Zulassung als Transporter bis 2.000 Euro abgesichert. Hinzu kommt die Einschätzung des Gebrauchten durch die unabhängige Zertifizierungsorganisation SGS nach dem Prinzip der Fairen Fahrzeugbewertung VMF, bei dem abhängig von Alter und Kilometerstand nur ein Teil der Reparaturkosten berechnet wird, der sogenannte Minderwert.

Patrick Vierveijzer, Vorsitzender der Geschäftsleitung von LeasePlan Deutschland: „Wir bieten Unternehmen jeder Größe stets das passende Fahrzeug. Click & Drive richtet sich insbesondere an Kleinunternehmen, Selbständige und Freiberufler, die Fahrzeug und Services aus einer Hand haben wollen. Sie haben insbesondere Vorteile durch günstige Leasingraten ohne Anzahlung, schnelle Fahrzeuglieferung, Wegfall des Restwertrisikos bei Erreichen des vereinbarten Vertragsendes und Absicherung der Rückgabeschäden.“

Angebot für mittelständische Unternehmen

Neu ist auch der LeasePlan Direktvertrieb für Unternehmen mit einem kleineren Fuhrpark. Die LeasePlan-Experten beraten individuell bei der Fahrzeugauswahl sowie dem Serviceumfang, und ein eigens eingerichtetes Backoffice macht LeasePlan-Kunden das Handling so leicht wie möglich.

Unterschieden werden zwei Vertragsarten: Full-Service Leasing und Management & Controlling. Beim Full-Service Leasing geben Kunden das finanzielle Risiko für den Restwert ihrer Fahrzeuge, für die Instandhaltung und Sommerreifen komplett an LeasePlan ab. Auch hier profitieren sie vom Rundum-Sorglos-Paket während der Vertragslaufzeit, von einer fairen Bewertung bei der Fahrzeugrückgabe und optional auch von der Absicherung der Rückgabeschäden. Bei der Vertragsart Management & Controlling übernimmt LeasePlan nur die Verwaltung und die Services – die Fahrzeuge bleiben im vorhandenen Finanzierungsmodell.

Erst vor wenigen Tagen hatte LeasePlan mit What’s next eine große, weltweite Kampagne gestartet, die sich an den zukünftigen Mobilitätsanforderungen orientiert. Mit dieser Offensive für den Mittelstand löst LeasePlan Deutschland das Versprechen ein, neue innovative Leasingprodukte und -services anzubieten.

Weitere Informationen:

https://www.leaseplan.de/unser-unternehmen/presse/pressemitteilung-einzelansicht/article/whats-next-leaseplan-richtet-den-fokus-jetzt-auch-auf-kleine-und-mittelstaendische-unternehmen.html

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