VANCOUVER, Dec. 18, 2017 /CNW/ - Quantum Cobalt Corp. (CSE: QBOT; OTC: BRVVF; FRA: 23B) ("Quantum" or the "Company") wishes to announce results from the 100% owned Kahuna and Rabbit Lake Cobalt Properties (collectively, the "Properties" or the "Property"). The Kahuna and Rabbit Lake Properties lie in the famous Ontario 'Cobalt' district approximately 37km and 47km south of the town of Cobalt, Ontario respectively.
Kahuna Cobalt Property Results
The recent exploration program consisted of prospecting, geologic mapping and geochemical sampling. A total of 166 soil samples and 28 grab samples were collected and submitted for assay at Acme Laboratories in Timmins, ON. Eleven of the grab samples reported above 100ppm cobalt. Of the 11 samples, 9 were collected from historic development rock piles at historic workings. Grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property.
|
Sample No. |
Sample Type |
Sample Source |
Cobalt (%) |
Nickel (ppm) |
Silver (g/t) |
|
E6690521 |
Grab |
Historic Working Pile |
9200.1 |
11.1 |
|
|
E6690523 |
Grab |
Historic Working Pile |
1298.7 |
1.6 |
|
|
E6690504 |
Grab |
Historic Working Pile |
0.82 |
295.5 |
0.5 |
|
E6690506 |
Grab |
Historic Working Pile |
0.15 |
105.9 |
0.4 |
|
E6690507 |
Grab |
Historic Working Pile |
0.10 |
84 |
0.02 |
|
E6690525 |
Grab |
Historic Working Pile |
0.10 |
202.2 |
0.05 |
Preliminary review of results from the limited soil sampling program identifies two anomalous areas along strike of historic workings with peak values of up to 460ppm cobalt. The southeastern anomaly is approximately 150m long and is open to the southeast and northwest.
Rabbit Lake Cobalt Property Results
A recent exploration program was completed over the property, with 126 soil samples and 29 rock samples collected and submitted for assay at Acme Laboratories in Timmins, ON. Peak results in soil samples included 319.9ppm cobalt and 0.31 g/t gold.
The historic occurrence on the shoreline of Rabbit Lake is believed to now occur below water level, but mineralisation within structures as well as elevated cobalt in soil samples is observed in the immediate vicinity.
Interestingly, the soil samples identified another anomalous zone further south along strike from the historic occurrence. Following these results, additional field work and investigation will be conducted in the spring.
About the Kahuna Cobalt Property:
Location
The Kahuna Cobalt property is located 14 km northeast of the town of Temagami and 37km 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. The epicentre of past producing cobalt mines in Ontario.
Property Status and Configuration
The Kahuna Cobalt property is comprised of 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 km of well maintained gravel surface roads off of leaving a major paved highway connecting the nearby town of Temagami and New Liskeard. The property is located 12 km 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 5 tonnes of material collected during past production was reported to be 22% Cobalt, and an assay of 20 oz/t Silver was reportedly obtained from a vein on the property.
History
Friday Mines Limited operated the property in the 1920's sinking a shaft and drifting on a 10 inch wide calcite vein with cobalt mineralization. 5 tonnes of cobalt mineralization was produced with a grade of 22% Co. In the 1960's, Gibson Mines Limited explored the property and found cobalt and silver mineralization. An assay of 20 oz/t 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 ppm 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
Michael Waldegger, P.Geo, is the qualified person as defined in NI 43-101, that has reviewed and approved the contents of this press release.
