VANCOUVER, British Columbia, Oct. 25, 2017 /PRNewswire/ -- LiCo Energy Metals Inc. ("the Company" or "LiCo") (TSX-V: LIC) (OTCQB: WCTXF) is pleased to update its shareholders on the current diamond drilling program for its Teledyne and Glencore Bucke Cobalt Properties situated in Bucke and Lorrain Townships, 6 km east-northeast of Cobalt, Ontario, as originally announced on September 12th, 2017.
The Company has now completed a total of 12 holes for 1,010 metres testing the Main and Northwest zones on the Glencore Bucke Property. Cobalt camp style mineralization has visually been noted in every drill hole that the Company has completed. The historical drilling program outlined two separate vein systems hosting significant cobalt and silver values. The Main Zone, currently is 152 m in length, and the Northwest Zone, measuring 70 m in length. The Main Zone had a north-south strike, which is hypothesized as the southern extension of the #3 vein from the Cobalt Contact Mine located immediately to the north of the Property (Bresee, 1982).
Building on what can be described as a successful start to its exploration program, the Company has decided to add a second drill rig to fast forward the overall exploration program. Furthermore, late last week the Company begun the preparation of the Teledyne property for drilling its initial drill targets. As of Sunday October 22, 2017, this added drill rig commenced drilling on the Teledyne Property. The first drill hole testing the cobalt/silver targets of the Teledyne property that were previously identified by Teledyne Canada Ltd., that are considered to be extensions from the past producing Agaunico Mine.
Tim Fernback, President & CEO of LiCo, stated, "We are still encouraged with the visual results that have been noted in the drill core to date and also excited with the second drill rig has now started to test the Teledyne Property. The core samples from the initial drill holes have recently been sent to the laboratory for analysis and LiCo is anxiously waiting to receive the results."
LiCo will remain drilling on the Glencore Bucke property, while the second drill rig will be used to test the drill targets identified by management on the Teledyne Property. The Teledyne and Glencore Bucke Properties are managed by Joerg Kleinboeck, P.Geo. (LiCo's QP), and supervised by Mr. Dwayne Melrose, Director and Head of the Technical Advisory Board of LiCo.
The overall drilling program will be conducted as part of LiCo's flow thru financing and work commitments for the Glencore Bucke and Teledyne Properties.
About LiCo Energy Metals: https://licoenergymetals.com/
LiCo Energy Metals Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company's focus is directed towards exploration for high value metals integral to the manufacture of lithium ion batteries.
