Business
Cobalt Power Group announces closing of the acquisition of the Ontario Cobalt block in Cobalt mining camp, Ontario
Cobalt Power Group announces closing of the acquisition of the Ontario Cobalt block in Cob...
About this update from Power Group Projects Corp.
[{"type":"text","content":"\n\n\n\nCobalt Power Group announces closing of the acquisition of the Ontario Cobalt block in Cobalt mining camp, Ontario\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, June 7, 2018\n\n\n\nTSX.V: CPO, Pink Sheets: CBBWF \n\n\n\nTORONTO, June 7, 2018 /CNW/ - Cobalt Power Group Inc. (\"Cobalt Power\" or the \"Company\") (TSX.V: CPO, OTC Pink: CBBWF) is pleased to announce the Company's closing of the recently acquired Ontario Cobalt block (press release Feb 13, 2018) which increases Cobalt Power's landholdings by approximately 25% to over 11,680 ha (28,862 acres). This acquisition positions Cobalt Power as one of the largest landowners in the Cobalt and Silver Center camps of Ontario.\n\n\n\nHighlights:\n\n\nThe Ontario Cobalt Project consists of 14 mineral claims (184 units) covering 2,944 ha (7,275 acres) located in the Cobalt Camp, Ontario. \nHighly prospective land package along the main structure of the Cobalt Camp.\nProperty exhibits all geological features for Co-Ag mineralization (diabase dyke, Coleman member sediments, major regional faulting).\nThe company is fully funded for 2018.\nAggressive exploration program planned for this year.\n\nGeological Setting\n\nGovernment geological mapping indicates that the claims are underlain entirely by the rocks of the Cobalt Group, including the Coleman Formation, and the Nipissing diabase sill. In this area, the Coleman formation consists of a sequence of conglomerates, sandstones, siltstones and argillites, which is the typical composition of this formation throughout the Cobalt camp. The Nipissing diabase is generally a sill intruding the Coleman sediments, but locally can include dykes. The Nipissing mafic rocks generally appear to overlie the Coleman formation, but may locally overlie the Coleman.\n\nThroughout the Cobalt camp, the most significant Co-Ag mineralization is commonly associated with the Coleman formation where it is intruded by the Nipissing sill, and where quartz-calcite-filled fractures extend into the over- or under-lying Coleman sediments, typically up to 3...