RCKS Talk

Wednesday, March 14, 2018 Derek Macpherson

FCC Adds U.S. Project in Another Cobalt Camp

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First Cobalt Corp. (TSXV:FCC) has expanded into the US, announcing the all share acquisition of US Cobalt Inc. (TSXV:USCO) valued at C$149.9 million (Figure 1). Under the agreement, all of US Cobalt shares will be exchanged on the basis of 1.5 First Cobalt shares for each US Cobalt share, representing a 61.8% premium to market based on US Cobalt’s closing price of C$1.01. US Cobalt owns the Iron Creek Cobalt Project within the Idaho Cobalt Belt in Idaho, located 28km south of eCobalt’s Idaho Cobalt Project (Figure 2). The project hosts a historic resource estimate (non-compliant with NI 43-101) of 1.3Mt grading 0.59% Co, which the company is looking to upgrade to a compliant resource and complete a maiden resource later in 2018. We view the transaction positively as it provides diversity for First Cobalt outside the Cobalt Camp, adding to its large portfolio of cobalt assets in another mining friendly jurisdiction (outside the DRC) as well as adding resources. We view the deal positively and believe based on its friendly nature and substantial premium, it is very likely to be completed. read more


Tuesday, February 27, 2018 Derek Macpherson

RCKS 6th Annual Pre-PDAC Mining Showcase Presenter Preview

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On Friday, March 2, 2018, Red Cloud Klondike Strike Inc. will be hosting its 6th Annual Pre-PDAC Mining Showcase. The event features presentations from 30 companies, including a breakfast panel focused on new technology in mining and a keynote lunch presentation from Osisko Mining Inc. (TSX:OSK), SolGold Plc. (TSX:SOLG) and Ascot Resources Ltd. (TSXV:AOT). For more details, please visit our events page. In this post, we provide a brief preview on the 30 presenting companies and a list of banner participants that will be in attendance.  read more


Thursday, February 22, 2018 Derek Macpherson

FCC Shifts Drilling Focus to Cobalt North Targets

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First Cobalt Corp. (TSXV:FCC) has completed its maiden drill program in Cobalt South and has now begun drilling in Cobalt North, near the historic Drummond, Kerr and Conisil mines. The company is planning to drill a total of 16 holes for 3,500m to follow up on previously identified high-grade Co-Ag polymetallic mineralization found in muckpile grab samples. Drill targets at Cobalt North are based on the company’s new 3D geological model that was compiled using extensive historic data compilation and 2017 regional field mapping. We continue to believe the company’s unique attributes, including its land position and infrastructure are likely to see First Cobalt trade at a premium to other cobalt exploration peers. We expect results from the ongoing exploration program to be an important upcoming catalyst.  read more


Tuesday, February 13, 2018 Derek Macpherson

FCC Hits Near-Surface High-Grade Cobalt

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First Cobalt Corp. (TSXV:FCC) has intersected near-surface high-grade cobalt along the Bellellen Vein system that extends for approximately 300m of strike length. The company highlighted assays from hole FCC-18-0007, which returned 2m of 0.78% Co and 0.83% Ni from a depth of 20m. Since drilling at Bellellen began in January 2018, 13 holes (1,100m) have been drilled with assays pending for the remaining 12 holes. The results confirm the presence of high-grade cobalt and nickel south of historic mine workings along the Bellellen system. With a strike length of 300m, the Bellellen system remains a priority target for the company. The company’s objective in the Cobalt Camp remains to test several targets to confirm the cobalt grades of known systems and focus on those of sufficient size to support large tonnage mining operations. We continue to believe the company’s unique attributes, including its land position and infrastructure are likely to see First Cobalt trade at a premium to other cobalt exploration peers. We expect results from the ongoing exploration program to be an important upcoming catalyst.  read more


Thursday, February 08, 2018 Derek Macpherson

FCC Samples More Co in Cobalt North – A Focus in 2018

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First Cobalt Corp. (TSXV:FCC) reported high grade cobalt assays from surface sampling near the past producing Hamilton mine in Cobalt North. A total of 16 samples were collected, highlights include 2.01% Co, 1.92% Co and 1.55% Co, along 200m of strike length. Cobalt occurs with nickel and silver, similar to other areas of the camp, an opportunity for by-products in future operations. The company noted broader mineralized systems with lower average grades are a longer-term focus for potential low-cost, open-pit operations. In 2018, 15,000m of drilling is planned for Cobalt North, including Hamilton, in addition to geochemical surveys, ground electromagnetic surveys as well as induced polarity and resistivity geophysical surveys. Ongoing exploration activities, including sampling and the recent initiation of the structural control study, are valuable in providing key geological information. We continue to believe the company’s unique attributes, including its land position and infrastructure are likely to see First Cobalt trade at a premium to other cobalt exploration peers. We expect results from the ongoing exploration program to be an important upcoming catalyst. read more


Monday, February 05, 2018 Derek Macpherson

FCC Hits Disseminated Cobalt

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First Cobalt Corp. (TSXV:FCC) has intersected 30m of disseminated cobalt mineralization at the Keeley Mine in the southern portion of the Canadian Cobalt Camp. Drill results from the company’s 2017 drill program support the existence of a broad zone of cobalt mineralization with approximately 350m of strike length associated with the historically mined Woods Vein and other transecting structures (Figure 1). The company intersected 15.7m of 0.12% Co (KF-WV-0013), including 6.2m at 0.21% Co, which reflected similar mineralization in grab samples from surface. Intersecting near-surface cobalt mineralization outside the veins historically mined was one of the company’s main objectives for 2017. The drilling confirms previous prospecting at surface and will now be followed by drilling at the company’s Bellellen and Cobalt North targets. Ongoing exploration activities, including sampling and the recent initiation of the structural control study, are valuable in providing key geological information. We continue to believe the company’s unique attributes, including its land position and infrastructure are likely to see First Cobalt trade at a premium to other cobalt exploration peers. We expect results from the ongoing exploration program to be an important upcoming catalyst. read more


Friday, February 02, 2018 Derek Macpherson

FCC Hits First Hole with Disseminated Mineralization

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First Cobalt Corp. (TSXV:FCC) reported encouraging results from drilling near the historic Keeley mine. Results intersected 25m of mineralization, returning 106.2 g/t Ag over 13.7m including 445 g/t Ag over 3.0m (KF-K3-0001). Although it is very early, this suggests disseminated mineralization is present and is an important part of the company’s thesis that disseminated mineralization exists in a camp that has historically been only associated with narrow vein mineralization. Besides these drill results, the visual results from the muck-pile sampling program suggest disseminated mineralization is possible. Ongoing exploration activities, including sampling and the recent initiation of the structural control study, are valuable in providing key geological information. We continue to believe the company’s unique attributes, including its land position and infrastructure are likely to see First Cobalt trade at a premium to other cobalt exploration peers. We expect results from the ongoing exploration program to be an important upcoming catalyst. read more


Tuesday, January 30, 2018 Derek Macpherson

FCC Completes Initial Phase of Muckpile Sampling

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First Cobalt Corp. (TSXV:FCC) has completed the first phase of a sampling program, collecting 400 samples from 14 muckpiles in Cobalt North and Cobalt South. Results from the program should provide clarity regarding grade characteristics of historical muckpiles and potential processing methods. Success of the program is expected to determine the reactivation of the mill and potentially the refinery, as well as the possibility of launching a district-scale muckpile sampling program. Ongoing exploration activities, including sampling and the recent initiation of the structural control study, are valuable in providing key geological information. We continue to believe the company’s unique attributes, including its land position and infrastructure are likely to see First Cobalt trade at a premium to other cobalt exploration peers. We expect results from the upcoming exploration program to be an important upcoming catalyst. read more


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