VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 22, 2016) - Cobalt Power Group Inc. (TSX VENTURE:CPO) is pleased to announce the staking of an additional 20 acre (8 hectare) mineral claim located immediately west of the Smith Cobalt Property extensions. Also, further to our successful initial sampling program, (see news release dated November 17, 2016), a technical team is currently on the Smith Cobalt property collecting additional ground samples, clearing access to underground workings, and meeting with a mining engineer to review options for re-opening historical mine shafts.
"The late arrival of snow in the Cobalt area allows us to continue with ground exploration work. We are excited to start the process of gaining access to the underground intersections of the veins for further exploration, including direct vein sampling and underground drilling," Dr. Andreas Rompel, President & CEO, comments. "As well, we continue to acquire prospective cobalt targets, adding to our already sizeable land package in the Cobalt, Ontario region."
About the Smith Cobalt Properties
The Smith Cobalt properties are underlain by a sequence of Archaean volcanics which are uncomformably overlain by Huronian sediments. These formations have been intruded by the Proterozoic-age Nipissing diabase sill. Faulting, on both a regional and local scale, has been found by surface mapping and in drill cores. Polymetallic veining, and especially pinkish-white carbonate veins, has also been reported. Thus, all the necessary geological components of accepted mineralization models for cobalt-silver have been identified on the properties.
About Cobalt Power Group Inc.
Cobalt Power Group Inc. is a publicly traded Canadian exploration company listed on the TSX-Venture Exchange (TSX VENTURE:CPO) focused on cobalt exploration and development.
The Company has made a series of strategic property acquisitions over the past several months, seeking cobalt mineralization near Cobalt, Ontario - a region with a long history of silver and associated cobalt production. Property holdings total 720 ha (1780 acres) in contiguous blocks. There are several historic mining operations on the property that are potentially accessible, including the Smith Cobalt shaft and its underground workings.
