Business
Green Swan Adds to Cobalt Portfolio
Burlington, Ontario--(Newsfile Corp. - February 28, 2017) - Green Swan Capital Corp. (TSXV: GS...
About this update from Cblt Inc
[{"type":"text","content":"\nGreen Swan Adds to Cobalt PortfolioBurlington, Ontario--(Newsfile Corp. - February 28, 2017) - Green Swan Capital Corp. (TSXV: GSW) has entered into an agreement to further expand its cobalt portfolio by purchasing \"Chilton Cobalt\", in the Laurentian Region of Quebec. Cobalt recently reached a five year high, touching USD$21.50 a pound after being at $9.85 in February, 2016. Green Swan targeted cobalt for these growth opportunities and is now being rewarded for being an early mover in this space.This latest addition to its portfolio, Chilton Cobalt, consists of nine claims totaling 497 hectares (almost five square kilometers). As part of the purchase, the arm's length vendor will deliver to Green Swan all available historic data for the property, including a recently completed geological report (non NI 43-101 compliant).The historic work on Chilton Cobalt identified four distinct cobalt-copper-nickel showings. Grab samples from one of the showings returned values up to 2,500 parts per million (ppm) cobalt, 3,300 ppm copper and 12,300 ppm nickel. Green Swan cannot verify the accuracy or thoroughness of historic work until further research and analysis is completed.Green Swan will begin its historic data review and analysis as soon as possible to enable an exploration program in the summer of 2017.\"This will be a very busy year for Green Swan's field team as we build shareholder value\", said Peter M. Clausi, Green Swan's CEO. \"We intend to conduct a second round of exploration at our Sudbury cobalt-gold asset, to explore our Dryden Cobalt asset, and to begin work on Chilton Cobalt.\"Green Swan continues to build its impressive portfolio of assets in mining-friendly jurisdictions. In Sudbury, previous surface grab sampling returned up to 4.5% cobalt and 44 g/t gold (see news release August 15, 2016) and Green Swan ran a successful diamond drill program there in November 2017, with cobalt and gold values in every sample. Green Swan will be presenting at PDAC Convention in Toronto on Sunday, March 5, 2017 at the Ontario Pavilion to discuss this unique property.Dryden Cobalt is located roughly one kilometer southwest of Green Swan's main Sudbury cobalt-gold asset, also in the highly productive Sudbury Basin. This property was acquired by staking, based on Green Swan's interpretation of the Nipissing Diabase and the Huronian sed...