- First Cobalt Corp (TSXV:FCC) have purchased a new land parcel adjacent to its Iron Creek deposit in Idaho
- As a result, 43 new mineral claims have been logged on the new site
- The 865-acre acquisition takes the site’s total site size to 2,600 acres
- Iron Creek has an indicated resource of 2.2 million tonnes of cobalt equivalent.
- First Cobalt Corp (FCC) is trading up 2.5 per cent at C$0.10 per share with a market cap of $40 million
First Cobalt Corp (TSXV:FCC) have acquired a new parcel of land adjacent to its Iron Creek deposit in Idaho.
The new parcel on the western edge of the Iron Creek deposit contains 43 new cobalt claims, staked out over an area of 865 acres.
The total size of First Cobalts Idaho Property is now over 2,600 acres. Surface cobalt mineralization has been found on the new western property.
The Iron Creek deposit already has an Indicated Resource of 2.2 million tonnes at 0.32 per cent cobalt equivalent. That would return 12.3 million pounds of contained cobalt.
The Inferred Resource of the site sits at 2.7 million tonnes at 0.28 per cent cobalt equivalent. That would return an additional 12.7 million pounds of contained cobalt from the site.
Drilling at Iron Creek has intercepted a 900 m long mineralised strip with a dip down to 650 metres.
The company believes this represented significant future resource growth for the site.
President and CEO of First Cobalt, Trent Mell said identifying sources of cobalt was off the utmost importance for a low-carbon future and US energy security.
“Our land position now extends well beyond the Iron Creek deposit and includes several other targets with surface cobalt and copper mineralization.
“With this larger property, we will look beyond the Iron Creek deposit and assess controls on mineralization which may allow us to identify new zones that extend to surface or remain under cover,” he said.
First Cobalt Corp (TSXV:FCC) is trading up 2.5 per cent at C$0.10 per share at 2:08 pm EST.