First Cobalt has acquired property near the past-producing Caswell Mine in the Cobalt mining camp.
The company believes the claims could extend mineralization at Caswell and the Thompson prospect.
“Expansion of First Cobalt’s property into this highly prospective area increases the opportunity for regional exploration work in keeping with the company’s intention to identify bulk cobalt mining opportunities,” president-CEO Trent Mell said in a Dec. 7 news release.
“Cobalt Central was historically underexplored, yet the Caswell mine to the east of these claims boasts one of the highest historic cobalt-to-silver ratios within the camp, making this region highly attractive for continued exploration.”
The announcement comes less than a week after First Cobalt completed its previously announced merger with CobalTech mining Inc., making CobalTech a subsidiary of First Cobalt.
First Cobalt is the largest land owner in the Cobalt camp, controlling more than 10,000 hectares of land and 50 historic mines, as well as a mill and the only permitted cobalt refinery in North America capable of producing battery materials.
First Cobalt began drilling in the Cobalt Camp in 2017 and seeks to build shareholder value through new discovery and growth opportunities.