International Cobalt – Corporate Update
April 18, 2017, Vancouver, British Columbia, Canada: International Cobalt Corp. (CSE:CO, the “Company” or “International Cobalt”) is pleased to provide the following Corporate Update in relation to its Blackbird Creek Cobalt Project (“Blackbird Creek” or the “Project”).
Dahrouge Geological Retained Ahead of Upcoming Exploration Program
The Company is pleased to announce that it has retained Dahrouge Geological Consulting Ltd. (“Dahrouge”) to manage the upcoming exploration program at Blackbird Creek. Dahrouge is a mineral exploration, consulting, and project management group based out of Edmonton, Alberta, Canada, with considerable experience in numerous jurisdictions and over a wide array of commodities (including cobalt, lithium and other specialty metals/minerals). Dahrouge is credited with the discovery of several notable mineral deposits in specialty metals including Upper Fir (Ta-Nb), Ashram (REE) and J-Zone (U).
International Cobalt President, Timothy Johnson, stated: “We value the wealth of knowledge and experience that Dahrouge brings to the table and feel very fortunate to have them working alongside us as we develop the Blackbird Creek Cobalt Project. Working with a strong, established geological team with a proven track record of discovery is one of the hallmarks to success in the exploration business and we believe that we have one of the best in Dahrouge.”
Among the significant historic results at Blackbird Creek, a Noranda exploration program in 1979 at the Ludwig Prospect (Conicu prospect), which consisted of sampling surface exposures as well as surface sampling of a historic short exploration adit, and an eight-hole exploration drilling campaign, yielded results include drill hole CA- 79-2A with 7.9 m of 0.4% cobalt and chip sampling of the exploration adit with 7.0 m of 0.71% cobalt. This historic exploration led Mr. Gregory A. Hahn, P. Geo, of Noranda (1980) to conclude that two exploration models suggest the presence of a stratabound deposit within the Blackbird Breccia Stratigraphy.
This program along with others has never been properly followed-up in a coordinated manner and with modern exploration technologies and techniques. Given the known information at the Project, the Company believes an aggressive, multi staged exploration program can rapidly develop Blackbird Creek to an advanced stage of exploration. Further information on the upcoming exploration program(s) will be made in future announcements.
Further Acquisitions Under Review
The Company is actively reviewing several potential property acquisitions within the Idaho Cobalt Belt. The Company intends to aggressively add to its land tenures to ensure it holds a dominant position within the region. The district is host to numerous historic Co, Cu, Au showings and / or workings, which attest to the mineral potential of the area.
ABOUT THE BLACKBIRD CREEK COBALT PROJECT
The 1,720-acre Blackbird Creek Cobalt Project is located adjacent to and along strike from eCobalt Solution’s advanced stage Idaho Cobalt Project (ICP) as well as the former producing Blackbird Co-Cu-Au Mine. Despite cobalt mineralization having been recognized at Blackbird Creek as early as the 1940’s, the area only witnessed intermittent exploration in the late 1970’s. International Cobalt will be the first company to bring modern exploration techniques to the Project. The Blackbird Creek Cobalt Project contains several historical cobalt showings including the Ludwig Prospect, where surface sampling of an exploration adit returned 0.71% cobalt over 7.0 meters and a historic drill hole returned 0.4% cobalt over 7.9 meters. In addition to the historic showing several un-tested geochemical anomalies require immediate follow-up.
The technical information in this news release has been reviewed by Neil McCalum,. P.Geol., Dahrouge Geological Consulting Ltd., a Qualified Person as defined by National Instrument 43-101.
ABOUT INTERNATIONAL COBALT CORP
International Cobalt Corp. (CSE: CO) is a Canadian based mineral exploration and development business focusing on the burgeoning cobalt sector. The rapidly growing large battery industry, a major consumer of cobalt, makes cobalt an appealing sector of focus. The Company seeks to add shareholder value by sourcing and developing projects in safe, progressive jurisdictions adhering to strict environmental and social standards.
On behalf of:
INTERNATIONAL COBALT CORP.
Timothy Johnson, President
This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at http://sedar.com for further information.