January 3rd, 2017 / TheNewswire / Vancouver, British Columbia; - LiCo Energy Metals Inc. ("the Company" or LiCo") TSX-V: LIC, OTCQB: WCTXF is pleased to report assay results for drill holes TE17-02 and TE17-03 completed on the Teledyne Cobalt Property, located 6 km northeast of Cobalt, Ontario.
A summary of the most significant results of the recent drill core assays are:
- TE17-02 0.95% Co over 1.9 m from 143.0 to 144.9 m, incl. 2.58% Co over 0.60 m from 144.30 to 144.90 m
- TE17-02 0.59% Co over 3.9 m from 156.0 to 159.9 m, incl. 2.22% Co over 0.60 m from 156.6 to 157.2 m
On the Teledyne Cobalt Property, the Company completed a total of 11 diamond drill holes totaling 2,200 m in the fall of 2017. The drilling has confirmed the cobalt mineralization on the Property which is consistent with historical grades and widths reported historically.
As reported on the Company's November 30th, 2017 news release, LiCo has recently completed its 2017 diamond drilling program on its Teledyne and Glencore Bucke Properties completing a total of 32 diamond drill holes, drilling 4,100 m of core. This exploration work satisfies both its flow-through financing obligations and the contractual obligations outlined in the recently acquired Glencore Bucke Property from Glencore plc of Baar Switzerland (LSE: GLEN). The overall drilling program has confirmed and extended the cobalt mineralization on each property and these results are consistent with historical grades and widths in the overall Cobalt Camp. As reported previously, visual cobalt camp style mineralization has been noted in every drill hole that the Company has logged.
The results for diamond drill hole TE17-02 to TE17-03 is summarized in Table 1 below.
Table 1: Summary of Diamond Drill Results
| DDH | From (m) | To (m) | Core Length (m) | Co (%) | Ag (ppm) | Cu (ppm) | Zn (ppm) | Pb (ppm) |
| TE17-02 | 142.5 | 144.9 | 2.4 | 0.76 | 1.6 | 202 | 35 | 10 |
| Incl. | 143 | 144.9 | 1.9 | 0.95 | 1.8 | 234 | 36 | 10 |
| Incl. | 144.3 | 144.9 | 0.6 | 2.58 | 1.5 | 140 | 39 | 12 |
| TE17-02 | 152 | 161 | 9 | 0.34 | 1.1 | 203 | 262 | 29 |
| Incl. | 152 | 154.2 | 2.2 | 0.26 | 1 | 101 | 239 | 38 |
| Incl. | 156 | 159.9 | 3.9 | 0.59 | 1.6 | 377 | 445 | 41 |
| Incl. | 156 | 157.8 | 1.8 | 0.90 | 2.3 | 228 | 924 | 79 |
| Incl. | 156.6 | 157.2 | 0.6 | 2.22 | 5.4 | 590 | 2705 | 226 |
| TE17-03 | 128.5 | 129.5 | 1 | 0.11 | 3.1 | 183 | 28 | 26 |
| TE17-03 | 152.4 | 155.7 | 3.3 | 0.09 | 1.2 | 13 | 22 | 5 |
| TE17-03 | 155.1 | 155.7 | 0.6 | 0.22 | 1.7 | 23 | 14 | 8 |
Note: Intervals reported in Table 1 represent core lengths and not true widths.
Tim Fernback, President & CEO of LiCo comments "Having consistently found cobalt in commercial grades of 0.50% and higher is very exciting for our team. This is especially true when we also see extended zones with greater than 2.0% cobalt in the same drill core. We are very much looking forward to getting the remaining drill core results back from the assay lab to confirm that the same cobalt mineralization is found throughout our Glencore Bucke and Teledyne cobalt properties."
QA/QC Program
LiCo Energy Metals Inc. has implemented a quality assurance/quality control (QA/QC) program for both the Glencore Bucke and Teledyne Property drill programs.
Diamond drill core was logged, then sawed in half, with one half placed in a labelled bag, and the remaining half placed back into the core box and stored in a secured compound. Either a standard or a blank was inserted every 20th sample. All samples were shipped to Activation Laboratories in Ancaster, Ontario. Each sample is coarsely crushed and a 250 g aliquot is pulverized for analysis. A 0.25g sample is digested with a near total digestion (4 acids) and then analyzed using an ICP. QC for the digestion is 14% for each batch, 5 method reagent blanks, 10 in-house controls, 10 samples duplicates, and 8 certified reference materials. An additional 13% QC is performed as part of the instrumental analysis to ensure quality in the areas of instrumental drift. If over limits for Cu, Pb, Zn, and Co are encountered, a sodium peroxide fusion, acid dissolution followed by ICP-OES is completed. For Ag over limits, a four acid digestion is completed followed by ICP-OES.
Qualified Person
The Glencore Bucke and Teledyne Properties are managed by Joerg Kleinboeck, P.Geo., (LiCo's QP), and supervised by Dwayne Melrose, Director and Head of the Technical Advisory Board of LiCo.
The overall drilling program has been conducted as part of LiCo's flow thru financing and work commitments for Teledyne Property.
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.
