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Cobalt Power Group to acquire an additional 7,400 hectares in the Cobalt Mining Camp, Ontario
Cobalt Power Group to acquire an additional 7,400 hectares in the Cobalt Mining Camp, Onta...
About this update from Power Group Projects Corp.
[{"type":"text","content":"\n\n\n\nCobalt Power Group to acquire an additional 7,400 hectares in the 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\nVANCOUVER, July 27, 2017\n\n\n\nTSX.V: CPO, Pink Sheets: CBBWF \n\n\n\nVANCOUVER, July 27, 2017 /CNW/ - Cobalt Power Group Inc. (the \"Company\") (TSX.V: CPO, OTC Pink: CBBWF) is pleased to announce signing a non-binding letter of intent (\"LOI\") to acquire four separate blocks of mineral claims (the \"Properties\") located in the South Lorrain and Lorrain Townships, Ontario, encompassing approximately 7,400 ha of prospective mineral lands. The Properties are currently owned or leased by Canadian Cobalt Projects Inc. (\"Canadian Cobalt\"), a privately held mineral exploration company.\n\n\n \n \n\n \nHighlights\n\n\nAcquisition is comprised of approximately 7,400 ha of strategically located mining claims in the Silver Center area of the Cobalt Camp, Ontario.\nCobalt Power will become one of the largest landowners in the prolific Cobalt Camp/Silver Center with the addition of this land package.\nClaim group is in close proximity to several historic mines, including the former producing Keely and Frontier Mines in South Lorrain Township, Ontario, as well as the recently announced First Cobalt/Cobalt One lands.\nPresence of historical showings on the properties, combined with the favourable geological setting, enhances the geological potential for the properties.\nCombined land holdings for Cobalt Power Group are now approximately 10,000 ha in the Cobalt Camp, Ontario.\n\n\"With the addition of this land package, our company will have 100% ownership in the mineral rights for one of the largest land packages in the Cobalt Camp,\" comments Dr. Andreas Rompel, President & CEO. \"Expanding our contiguous parcels into the core of the historic Silver Centre bodes well for continued exploration, increases our opportunity for discovery and turns us into one of the dominant players in the region.\"\n\nProposed Transaction\n\nIt is contemplated that the acquisition of the Properties will be accomplished by Cobalt...