Quantum Cobalt completes phase 1 exploration at Kahuna
2018-08-02 11:09 ET - News Release
Mr. David Schmidt reports
QUANTUM COBALT COMPLETES FIRST PHASE EXPLORATION ON THE KAHUNA PROJECT
Quantum Cobalt Corp. has completed the first phase of exploration at the Kahuna cobalt property.
The first phase of exploration was completed over a 24-day period and included extensive soil sampling, prospecting and trenching.
Soil sampling covered the length of the project area, targeting the Nipissing Lorrain diabase for cobalt mineralization within calcite veins. Positive results from the soil program in 2017 proved the utility of soils as a method of analysis. The 2018 program was designed to cover the prospective zones throughout the property as well as completing infill samples over last year's anomalies -- specifically, the infill sampling focusing upon the historically mined Friday shaft area. The company is currently awaiting laboratory results for further analysis.
Pending results, further phases of exploration at the Kahuna project are planned for later this summer. The current exploration permits provisions for IP (induced polarization) geophysics, as well as additional trenching and infill soil sampling.
About the Kahuna cobalt property
Location
The Kahuna cobalt property is located 14 kilometres northeast of the town of Temagami and 37 kilometres south of the town of Cobalt near the eastern border of Ontario. The district is mining friendly, having a rich history of cobalt and silver production. This area is the epicentre of past-producing cobalt mines in Ontario.
Property status and configuration
The Kahuna cobalt property comprises 77 claim units and covers approximately 1,200 hectares.
Access and infrastructure
The property is accessible by boat from Lorrain Lake, which is accessed by 12 kilometres of well-maintained gravel surface roads off of leaving a major paved highway connecting the nearby towns of Temagami and New Liskeard. The property is located 12 kilometres from rail and power distribution lines.
Mineralization
Cobalt and silver mineralization occurs in calcite veins within the Nipissing diabase as erythrite and native silver. The grade of five tonnes of material collected during past production was reported to be 22 per cent cobalt, and an assay of 20 ounces per ton silver was reportedly obtained from a vein on the property.
History
Friday Mines Ltd. operated the property in the 1920s, sinking a shaft and drifting on a 10-inch-wide calcite vein with cobalt mineralization. Five tonnes of cobalt mineralization were produced with a grade of 22 per cent cobalt. In the 1960s, Gibson Mines explored the property and found cobalt and silver mineralization. An assay of 20 ounces per ton silver was reportedly obtained from a vein as well. More recently, in 1998, a portion of the property was staked and a small soil survey reported cobalt in soil up to 440 parts per million as well as gold-in-soil anomalies.
The historical information for the Kahuna cobalt property provided in mineralization and history was obtained from the mineral deposit inventory report MDI31M04SE00035, the details of which are presented to provide a mineral potential and historical work perspective, and any sampling, analytical or test data underlying the information or opinions have not been verified by a qualified person. The company intends to include check sampling during the current exploration phase.
Qualified person
Graham Davidson, PGeol, is the qualified person as defined in National Instrument 43-101 who has reviewed and approved the contents of this press release.
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