Vancouver, British Columbia–(Newsfile Corp. – April 24, 2019) – Go Cobalt Mining Corp. (CSE: GOCO) (“Go Cobalt” and/or the “Company“) is pleased to update regarding a data compilation on the optioned Barachois Project (“Property“) in Quebec, Canada. Go Cobalt reports the following:
Highlights:
- Two types of mineralization identified on the Barachois claims
- Surface showings in Carboniferous sediments line up with Troisième Lac fault
- Plans for two-phase field program
Context:
Go Cobalt optioned the Barachois Property in the fall of 2018. The Company contracted the consulting firm Ronacher McKenzie Geoscience for a data compilation and literature review on the Barachois Property. The data compilation and literature review help Go Cobalt to identify cost-effective exploration techniques to target vanadium mineralization on the claim.
Geology of the Barachois Project
The Barachois Property is centered on a suite of carboniferous sedimentary rocks that are rich in organic material. The sedimentary rocks include conglomerate and sandstone shale in the north as well as limestone and mudstone in the south. The rocks underlying these sediments are cut by a regional fault. Sedimentary rock on the northern part of the claim is sub horizontal and therefore potentially open pitable with low strip ratio. The Barachois Property is considered an early stage and prospective exploration project.
Sandstone-hosted V-U mineralization
The first is unconformity related vanadium and uranium mineralization in sandstones shales. Unconformity related mineralization tends to be regional in scale. The primary vanadium minerals are oxides such as montroseite and paramontroseite.
Vanadium concentrations in sandstone-hosted vanadium deposits around the world generally stand at 1 percent V2O5 or higher. These deposits tend to be high grade (>1% V2O5) up to 1 million MT of ore. Vanadium in oxide minerals is easier to process and extract versus vanadium in silicates minerals.
Mississippi-Valley-Type (MVT) mineralization
Lead-zinc mineralization of Mississippi-Valley-Type occurs in conglomerates. The mineralization may be in part structurally controlled by the Troisième Lac Fault. Whether the MVT and sandstone V-U mineralization always occurs together is unclear.
As an example, MVT deposits generally range up to 20 million tonnes and have combined lead and zinc grades between 4% to over 14%. These ore bodies tend to be compact, fairly uniform plug-like or pipe-like replacements of their host carbonate sequences and as such can be extremely profitable mines.
Next Steps
The delivery of the data compilation and literature review by Ronacher MacKenzie Geoscience marks the completion of the first out of three phases of work planned on the Barachois this year. The following phase includes a field visit with detailed mapping, chip and possibly channel sampling. Based on the results of the field visit a geophysical survey will be designed to target the vanadium mineralization. This geophysical survey is the third phase of the planned work.
Mineral Occurrences
Beattie 1 mineralization is in a black, schistose sandstone argillaceous schist. Grab samples have yielded 8.75% Pb, 27 ppm Ag, >1% Cr, >1% V. Carbonaceous material includes full trees. Mineralized layer sub-horizontal, slightly dipping to the N; 0.5-1.5 m thick and 1,300 m strike extent. Multiple elements including commodities: Pb, U, Ag, Cr, V, Se, Zn. Beattie 2 subhorizontal, 1.5 x 20 m strike length with 9.4 g/t Ag, 37.6 % Fe; 3.83 g/t Ag, 3950 ppm Pb; Zn.
Cannes-de-Roches Occurrence includes vertical units of breccia, conglomerate and calcareous red sandstone some black schist and carbonaceous material (anthracite). Mineralization in NW-SE trending organic-rich layers.
Qualified Person
Adrian Smith, P.Geo., is the qualified person for the Company as defined in the National Instrument 43-101 and has reviewed the technical information presented in this news release.
About Go Cobalt:
Go Cobalt develops exciting and relevant mining exploration projects. Go Cobalt intends to pursue energy metal projects to help meet the demand for a battery powered future.
For further information, please contact:
Scott Sheldon, President Go Cobalt Mining Corp.
Telephone: 604.725.1857
Email: scott@gocobalt.ca
Forward-Looking Information:
This press release may include “forward-looking information” (as that term is defined by Canadian securities legislation), concerning the Company’s business. Forward-looking information is based on certain key expectations and assumptions made by the Company’s management, including future plans for the exploration and development of its mineral properties. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws.
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