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Cobalt Power Group Announces Closing of the Acquisition of Western Cobalt Corp.
Cobalt Power Group Announces Closing of the Acquisition of Western Cobalt Corp. Ca...
About this update from Power Group Projects Corp.
[{"type":"text","content":"\n\n\n\nCobalt Power Group Announces Closing of the Acquisition of Western Cobalt Corp.\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 15, 2018\n\n\n\nTSX.V: CPO, Pink Sheets: CBBWF\n\n\n\nTORONTO, June 15, 2018 /CNW/ - Cobalt Power Group Inc. (\"Cobalt Power\" or the \"Company\") (TSX V: CPO) (OTC Pink: CBBWF) is pleased to announce closing of the acquisition of Western Cobalt Corp., (\"Western Cobalt\") a privately held mineral exploration company that holds 9 strategically located mineral claims in the eastern  Athabasca  basin  of  Saskatchewan,  Canada. As earlier announced, the  Western  Cobalt  properties  comprise  approximately  20,130  acres (8,146 hectares) of highly prospective geology. The claims are contiguous with UEX Corporation's (\"UEX\") West Bear Cobalt-Nickel Project (\"West Bear Co-Ni\").\n\nHighlights\n\n\nUEX recently announced very high grade cobalt-nickel results over substantial widths on their West Bear Co-Ni project, including 2.0% Co and 1.26% Ni over 10.Sm in drill hole WBC-001, and 0. 73% Co and 0.36% Ni over 20.Sm in drill hole WBC-005 (UEX news release of April 9, 2018).\nWestern Cobalt's properties are contiguous to claims held by UEX, ALX Uranium Corp., Denison Mines Corp., and lsoEnergy Ltd.\nGeological setting of the Western Cobalt properties exhibits the critical features for both Cobalt-Nickel and Uranium mineralization found in the region, including proximity to the eastern margin of the Athabasca sandstone where it unconformably overlies metasedimentary formations of the Wollaston Domain.\nThe Company is fully funded for the 2018 exploration season and plans are underway for an aggressive exploration program on its new Western Cobalt properties.\n\n\"This Cobalt-Nickel project in the Athabasca basin of Saskatchewan, and the exploration of Cobalt in the Ontario Cobalt Region will increase Cobalt Power's property to 19,826.80 hectares\" stated Chris Healey P. Geo VP of Exploration and Director.\n\nGeological Setting\n\nThe Western Cobalt p...