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LiCo Energy Metals Inc Plans Confirmation Drilling at the Teledyne Cobalt Project, Cobalt, Ontario
(via TheNewswire) February 22, 2016 / TheNewswire / Vancouver, British Columbia; LiC...
About this update from Fuse Battery Metals Inc
[{"type":"text","content":"LiCo Energy Metals Inc Plans Confirmation Drilling at the Teledyne Cobalt Project, Cobalt, Ontario(via TheNewswire)\n\n \nFebruary 22, 2016 / TheNewswire / Vancouver, British Columbia; LiCo Energy Metals Inc. (\"The Company\" or \"LiCo\" TSX-V: LIC; OTCQB: WCTXF) is pleased to announce that in preparation for a diamond drilling program for the Teledyne Project, located in northern Ontario, all previous drilling data from both surface and underground is being compiled with recommendations for drilling locations to follow. The Company has received drill bids from qualified drilling operators in Ontario.\n\n \n \nInitially, the first few holes of the program will be oriented to confirm results from historical drilling. Teledyne Canada Limited completed 36 diamond drill holes previously and the program clearly outlined 2 separate zones of vein systems containing significant cobalt and silver values. The two zones have a strike length of at least 150 meters and 65 meters respectively, and at least one system appears to be an associated extension of the vein system of the former producing Agaunico Mine which is adjacent to the Teledyne.\n\n \n \nCOO Tim Fernback comments: \"Cobalt prices have nearly doubled since LiCo acquired the Teledyne Project and prices are now over USD$20 per lb. The property has had the benefit of considerable historical exploration and the program currently being prepared will help in assessing the future potential of the Property\".\n\n \n \nAbout the Teledyne Cobalt Project\n\n \n \nThe Property adjoins the south and west boundaries of claims that hosted the Agaunico Mine. From 1905 through to 1961, the Agaunico Mine produced a total of 4,350,000 lbs. of cobalt and 980,000 oz. of silver (Cunningham-Dunlop, 1979). A significant portion of the cobalt that was produced at the Agaunico Mine was located along structures that extended southward onto Property currently under option to LiCo Energy Metals.\n\n \n \nOver $25 million (inflation-adjusted) of past work has been already been completed on the Teledyne Project. This work has resulted in valuable infrastructure, which includes a development ramp and a modern adit going down 500 feet parallel to the vein. \n\n \n \nTechnical information in this news release has been approved by Joerg Kleinboeck, P.Geo., an independent consulting geologist and a qualified pers...