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LiCo Energy Metals - Continues Its Success at Teledyne Cobalt Property Phase 1 Diamond Drilling Program
(via TheNewswire) March 8 , 2018 / TheNewswire / Vancouver, British Columbia; - LiC...
About this update from Fuse Battery Metals Inc
[{"type":"text","content":"LiCo Energy Metals - Continues Its Success at Teledyne Cobalt Property Phase 1 Diamond Drilling Program(via TheNewswire)\n \n \nMarch 8, 2018 / TheNewswire / Vancouver, British Columbia; - LiCo Energy Metals Inc. (\"the Company\" or LiCo\") TSX-V: LIC, OTCQB: WCTXF is pleased to the update its shareholders on the completion on the Teledyne Cobalt Property Phase 1 diamond drilling program. During the fall of 2017, LiCo completed 11 diamond drill holes totaling 2,200 m. The drill program, along with the Phase 1 diamond drilling program completed on the Glencore Bucke Property, satisfied LiCo's flow-through financing obligations. \n\n\n \n\"We are extremely pleased with the overall results, especially the grades and widths of the cobalt mineralization intersected in the majority of the drill holes from the Teledyne Phase 1 drill program. We view the results of both the Teledyne and Glencore Bucke drill programs as being successful\" commented Mr. Tim Fernback, President & CEO of LiCo. \"Now that we have all the drill results, LiCo will design the Phase 2 drill program which will then become the basis of completing a 43-101 Compliant resource estimation. We are very excited about the future and commencing Phase 2 on both the Teledyne and Glencore Bucke properties in the future\".\n\n\n \nFrom 1979 through to 1980, Teledyne Canada Ltd., completed 6 surface diamond drill holes and 22 underground diamond drills for an aggregate of 3,160.8 m on the Teledyne Cobalt Property. Based on the surface and underground diamond drill programs, historical reserves of 60,000 tons in the geologically inferred category, and 40,000 tons in the probable category, at an average grade of 0.45% Co, 0.6 oz/t Ag was estimated (Linn, 1983). The reserve estimate is a historical estimate as defined by National Instrument 43-101. The historical reserve estimate contains categories that are not consistent with current CIM definitions. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. No attempt was made to reconcile the historical reserve calculations as reported by Teledyne Tungsten. LiCo is not treating the historical reserve estimate as a current mineral resource or mineral reserve.\n\n\n \nLiCo's Phase 1 diamond drill program was designed to confirm and extend the existin...