VANCOUVER, Dec. 22, 2017 /CNW/ - Quantum Cobalt Corp. (CSE: QBOT; OTC: BRVVF; FRA: 23B) ("Quantum" or the "Company") wishes to announce it is in the process of planning a preliminary program on the Nipissing Lorrain Mine" Cobalt-Silver-Nickel Property (collectively, the "Nipissing Lorrain Mine Property" or the "Property") which will focus on sampling and determining the size of a dump pile of material that was excavated during historic underground development work ("development rock pile"). The company intends to use this information to prepare a mineral resource estimate (per CIM definitions) and does not currently intend to complete or file on SEDAR a PEA, PFS, or FS. As such the company will not be able to disclose results of any processing options.
The program is in the initial stages of planning and may consist of reverse circulation drill holes on a tightly spaced grid to collect representative samples and dimensions of the pile. The samples collected will be assayed to understand grade distribution and geometry of the pile. Select representative samples will undergo flotation test work to determine cobalt grade recovery as well as arsenic concentrations. Permits for this work have not yet been applied for.
The recently completed first phase exploration program included grab samples from the historic development rock pile of the historically mined 'Staples Vein'. The average grade of the 15 previously released samples sent for assay from the pile was over 2.33% Co, with a peak value of 8.33% Co. The grab samples were carefully selected and are not necessarily representative of the mineralization hosted on the property.
About the Nipissing Lorrain Cobalt Project:
Location
The Nipissing Lorrain Mine Cobalt property is located 26km southeast of the town of Cobalt near the eastern border of Ontario. Cobalt is the epicentre of past Cobalt mining in Ontario. The district is mining friendly, with a rich history of cobalt and silver production.
Property Status and Configuration
The property consists of 29 claim units for approximately 464 Hectares.
Access and Infrastructure
The Property is accessible by road, 26km from Cobalt. From north Cobalt, follow Highway 567 to Silver centre. After 26.85km turn left on Maiden Road and continue for a further 4.35km.
Mineralization
Cobalt, silver and nickel mineralization occur on multiple fracture zones and veins within the property. Mineralization is associated with calcite veins within close proximity to diabase sills. Mineralization occurs as Co-Fe-Ni Arsenides, argentite, niccolite and native Silver.
History
Sporadic mining and exploration has continued the property since 1925. The first shafts were sunk into the Staples vein in 1925 by Nipissing Mining Co. Ltd. Underground mining continued until 1940 with numerous shafts and up to 5 different mining levels developed. Total production is reported as 2507kg Co, 1597kg Ni and 10,886kg Ag from 122 tonnes of ore. From 1961 until 1967 further exploration, sampling and geophysics programs were completed. Since then, bulk sampling has been completed on the Staples Vein waste pile in 1982 and 1994. "Grades from bulk sampling ranged from 0.05oz/t to 1.25 oz/t Ag (for a 20lb sample)". This information is from Mineral Deposit Inventory for Ontario (MDI31M03NW00011).
Qualified Person
Graham Davidson, P.Geol, is the qualified person as defined in NI 43-101, that has reviewed and approved the contents of this press release.
