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Green Swan Capital Corp. Closes on Sudbury Basin Cobalt Asset and Announces Financings
BURLINGTON, ON / ACCESSWIRE / June 14, 2016 / Green Swan Capital Corp. (TSXV: GSW) ("Green S...
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[{"type":"text","content":"Green Swan Capital Corp. Closes on Sudbury Basin Cobalt Asset and Announces FinancingsBURLINGTON, ON / ACCESSWIRE / June 14, 2016 / Green Swan Capital Corp. (TSXV: GSW) (\"Green Swan\") announces that it has closed the previously announced 100% acquisition of the Copper Prince property in Falconbridge Township in the Sudbury Mining Division, Ontario. \nGreen Swan intends to focus its exploration efforts on the historic cobalt indicators. \nCopper Prince is a block of 16 contiguous patented mining claims (260 hectares) in the Sudbury Basin, an area renowned for its world-class polymetallic sulphide ore deposits. They lie within the Huronian Gold Belt, a prolific zone of past gold producers that extends a distance of roughly 120 kilometers. Mining infrastructure, labour and knowledge are easily accessible in this mining-friendly jurisdiction. \nExploration work on Copper Prince has been carried out by various parties since the late 1880's. Some historic data cannot be found. Green Swan has found two prior NI 43-101 reports on Copper Prince prepared for third parties and filed at SEDAR, which reports summarize the historic work carried out and some of the recent results obtained. These results have not been verified by Green Swan's Qualified Person. \nA notable cobaltite-in-quartz zone is described in the September, 2008 technical report as being found in the southeast claims comprising a 30-40cm wide quartz vein on the contact of the Nipissing Diabase with coarse grained cobaltite.\nOne historic sample from Copper Prince, number A195883, assay by Bell White Laboratories in Haileybury, ON (October 1991), returned 3.26% Cobalt, with 14 g/t Gold. A second sample, number A195885 assayed 2.62% Cobalt (Co) and 0.88% Nickel (Ni). Both samples had traces of copper, silver and PGE. Only the assay results were verified to the original Bell-White Certificate, but not the sampling method, location, delivery nor procedures of the person who collected these samples. \nGreen Swan is awaiting assay results from samples taken during its late May, 2016 technical due diligence review. These results will be disclosed as soon as possible. Apart from those samples and a review of the historic record, Green Swan has done no work on Copper Prince. \n\"Our team has been actively searching for a Canadian cobalt property for almost a year, as we believe the...