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First Cobalt Evaluates its Canadian Silver Portfolio
First Cobalt Evaluates its Canadian Silver Portfolio Canada NewsWire TORONTO, Au...
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[{"type":"text","content":"\n\n\n\nFirst Cobalt Evaluates its Canadian Silver Portfolio\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.prnml40{\nMARGIN-LEFT:3.33em\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Aug. 6, 2020\n\n\n\nTORONTO, Aug. 6, 2020 /CNW/ - First Cobalt Corp. (TSXV: FCC) (OTCQX: FTSSF) (the \"Company\") today announced that it is undertaking an internal review of its silver projects in Ontario, Canada, with a view towards value creation for shareholders by potentially spinning out, divesting, or joint-venturing these non-core assets in what is a greatly improved silver market.\nHIGHLIGHTS\nFirst Cobalt holds the largest land package in the historical silver mining camp of Cobalt, Ontario, which contains more than 50 past-producing mines, including some of the region's largest high-grade silver producersNew silver mineralization identified in a district that produced over 600 million ounces of silver, with peak production from 1919-1931Strong silver market has increased interest in First Cobalt's Canadian silver assets, where the Company drilled many high-grade intercepts, including:1,050 g/t Ag and 0.20% Co over 3.5m at Crown Reserve 820 g/t Ag and 0.45% Co over 3.6m at Kerr 686 g/t Ag and 0.37% Co over 4.3m at Kerr 328 g/t Ag and 0.84% Co over 2.5m at Kerr 169 g/t Ag and 0.27% Co over 4.1m at Kerr #2 132 g/t Ag and 0.03% Co over 8.0m at Drummond 515 g/t Ag and 0.61% Co over 2.2m at Drummond 451 g/t Ag and 0.1% Co over 2.0m at Drummond 785 g/t Ag over 1.3m at Keeley South 106 g/t Ag over 13.7m at KeeleyMineralized zones are relatively shallow, typically occurring less than 150 metres from surfaceTrent Mell, First Cobalt President & CEO, commented:\nSilver prices have more than doubled from their March lows and are up more than 65% year-over-year due to investor interest in precious metals. We have several high-grade silver targets that are not receiving value in our asset portfolio given our focus on cobalt. The Cobalt Camp includes some of the highest-grade historic silver mines in Canada and First Cobalt has demonstrated that potential for new silver discoveries ex...