Abitibi Metals boosts resource by 62% at B26 polymetallic deposit in Quebec
Indicated resources increased to 11.3 million tonnes from 6.9 Mt.
First Cobalt (TSXV: FCC) announced Wednesday it has increased the size of its Idaho land position by staking an additional 43 claims to the west of Iron Creek, expanding the total project area from 1,700 acres to over 2,600 acres.
The expanded property now contains the Iron Creek cobalt-copper deposit, the Ruby target and several other surface exposures of cobalt-copper mineralization.
The Iron Creek project is one of the few primary cobalt deposits in America, and remains open along strike and down-dip. Bedrock mapping shows continuity of the host rocks beyond Iron Creek within the new claim area.
The Iron Creek deposit has an estimated indicated resource of 2.2 million tonnes at 0.32% cobalt equivalent for 12.3 million pounds of contained cobalt
“Our land position now extends well beyond the Iron Creek deposit and includes several other targets with surface cobalt and copper mineralization,” president and CEO Trent Mell said in a media release.
“With this larger property, we will look beyond the Iron Creek deposit and assess controls on mineralization, which may allow us to identify new zones that extend to surface or remain undercover,” he added.
The Iron Creek deposit has an estimated indicated resource of 2.2 million tonnes at 0.32% cobalt equivalent for 12.3 million pounds of contained cobalt, and an inferred resource of 2.7 million tonnes at 0.28% cobalt equivalent for an additional 12.7 million pounds of contained cobalt.
