First Cobalt said it has started exploration activity at mineral properties in the Town of Cobalt.
In an Oct. 24 news release, the company said it has started prospecting and structural mapping on properties owned by Cobalt One. Ltd. and CobalTech Mining Inc. in advance of a merger of the three companies. Results from the program will be used to plan a winter drill program.
Prospecting targets include Caswell, Ophir and Silver Banner, which are known to be Cobalt-rich, according to the company, along with several mines in the Kerr Lake and Maiden Lake areas.
The prospecting program will be led by Bjorkman Prospecting.
The mapping program will focus on the New Lake area, including the Ophir and Silver Banner mines, and the Maiden Lake area east of the Keeley, Frontier, Haileybury and Bellellen mines.
“As the merger of First Cobalt, Cobalt One and CobalTech nears completion, the three companies are cooperating to give the consolidated company an early start on a land position that will encompass 10,000 hectares and 50 past producing cobalt and silver mines,” said Trent Mell, president and CEO of First Cobalt, in a release.
“This exploration program will advance our understanding of the diverse geologic settings throughout the Camp and position us for an active winter season.”
Cobalt One shareholders will meet to approve the merger transaction on Nov. 17 and CobalTech shareholders will meet on Nov. 21.
