Friday 24th November 2017

Resource Clips


Posts tagged ‘copper’

Pistol Bay Mining wants to bring blockchain to resource companies

November 15th, 2017

Update: On November 20 Pistol Bay announced it had created a subsidiary called PB Blockchain Inc to create applications for mining and resource companies.

by Greg Klein | November 15, 2017

While still focused on its Confederation Lake zinc-copper portfolio in northwestern Ontario, Pistol Bay Mining TSXV:PST sees untapped potential in technology’s current upheaval. The company reports ongoing discussions to form a wholly owned subsidiary that would create blockchain applications for the mining sector, as well as oil and gas and possibly other industries. Some products could include “Ethereum smart contracts, security, claim management, resource management and the tokenization of resources,” Pistol Bay stated.

Pistol Bay Mining wants to bring blockchain to resource companies

“We believe a unique opportunity exists to lead the mineral development industry by building a resource-focused blockchain company to facilitate modern mining-related transactions,” explained president/CEO Charles Desjardins. “This represents an exciting opportunity for the shareholders of Pistol Bay and, as a founder of the original Investment.com portal, I have always recognized the need to be early in adapting to new technologies.”

Back to mineral exploration, last month Pistol Bay announced confidentiality agreements with two companies interested in partnering on Pistol Bay’s 17,000-hectare Confederation Lake properties. One company was described as a mid-tier producer, the other a junior explorer. The news followed completion of the first regional and modern geophysical program carried out over the VMS-rich greenstone belt.

Having already received an exploration permit for Confederation Lake’s Dixie claims, Pistol Bay now has applications pending for the Garnet, Fredart, Moth and Fly claim groups. “With zinc prices at a record high, there’s lots of demand for zinc and copper exploration projects,” said Desjardins. “Not many companies can offer a belt-wide property base with proven VMS mineralization and a new airborne EM survey with multiple untested targets.”

Read more about Pistol Bay Mining here and here.

Resource update underway for Rockcliff Metals’ Talbot copper property in Manitoba

November 15th, 2017

by Greg Klein | November 15, 2017

One of a number of active projects in Rockcliff Metals’ (TSXV:RCLF) Flin Flon-Snow Lake portfolio, the Talbot copper property has an updated resource estimate in the works. The initiative follows Phase II drilling and will accompany a DPEM geophysical survey on the West Talbot deep conductive plate, below and west of the deposit. In April the company announced finding VMS mineralization within the plate.

Resource update underway for Rockcliff Metals’ Talbot copper property in Manitoba

While analyzing this year’s drilling data for a resource update,
Rockcliff will conduct geophysics to help identify 2018 targets.

Rockcliff holds a 51% option on Talbot from Hudbay Minerals TSX:HBM.

Last spring’s drill campaign “identified additional areas of high-grade enrichment in the hanging wall and along strike of the present resource,” said president/CEO Ken Lapierre. “The additional DPEM geophysical survey will help us vector in on the exact up-dip location of the West Talbot deep conductive plate. The Talbot copper deposit was originally identified as a smaller geophysical conductive plate so any new larger plates identified in this area are viewed as high-priority targets.”

Dating to January 2016, Talbot’s current resource shows an inferred category for three zones:

Main zone

  • 1.44 million tonnes averaging 3.4% copper, 2.6 g/t gold, 2.4% zinc and 61 g/t silver for 107 million pounds copper, 118,600 ounces gold, 76.4 million pounds zinc and 2.83 million ounces silver

Footwall zone

  • 443,900 tonnes averaging 2.2% copper, 2 g/t gold, 2.4% zinc and 55.6 g/t silver for 22 million pounds copper, 28.5 ounces gold, 23.2 million pounds zinc and 793,800 ounces silver

North lens

  • 283,400 tonnes averaging 0.7% copper, 2 g/t gold, 1.3% zinc and 20.6 g/t silver for 4.6 million pounds copper, 18,300 ounces gold, 7.9 million pounds zinc and 187,600 ounces silver

Total

  • 2.17 million tonnes averaging 2.8% copper, 2.4 g/t gold, 2.2% zinc and 54.6 g/t silver for 133.6 million pounds copper, 165,400 ounces gold, 107.4 million pounds zinc and 3.81 million ounces silver

Rockcliff expects work to be completed by year-end, with results to be released once analyzed. Talbot has more drilling planned for 2018.

Active on several Snow Lake assets, the company began another drill campaign last week at the Bur zinc-polymetallic property. See a roundup of recent Rockcliff news here.

Read more about Rockcliff Metals here and here.

Update: Rockcliff Metals drills high-grade Manitoba zinc project

November 7th, 2017

Update: On November 7 Rockcliff Metals TSXV:RCLF (formerly Rockcliff Copper TSXV:RCU) announced drilling had begun at its Bur zinc project in northern Manitoba.

by Greg Klein | September 26, 2017

A high-grade zinc-polymetallic project gets some overdue rig attention as Rockcliff Copper TSXV:RCU returns to its Bur property in northern Manitoba’s Flin Flon-Snow Lake camp next month. Ten to 15 holes totalling around 3,000 metres will work on updating and expanding the VMS deposit along strike and at depth.

Using a zinc-equivalent cutoff of 5%, the historic, non-43-101 2007 estimate showed:

  • indicated: 1.05 million tonnes averaging 8.6% zinc, 1.9% copper, 12.1 g/t silver and 0.05 g/t gold

  • inferred: 302,000 tonnes averaging 9% zinc, 1.4% copper, 9.6 g/t silver and 0.08 g/t gold
Rockcliff Copper prepares to drill northern Manitoba zinc deposit

Part of the company’s Snow Lake project, a package of properties totalling over 45,000 hectares, Bur sits about 22 kilometres by road from Hudbay Minerals’ (TSX:HBM) copper-zinc concentrator. Rockcliff’s 100% earn-in on Bur calls for $3 million in spending over four years.

Earlier this month the company announced initial geophysical results from its Laguna property, site of a former mine that produced 60,000 ounces of gold averaging 18.7 g/t during intermittent production from a single vein. With very low frequency and induced polarization surveys still underway, an airborne magnetometer found “multiple, surface-exposed, high-grade gold-bearing quartz vein stockwork systems,” the company stated.

Last May Rockcliff announced plans for two other Snow Lake gold properties as well as Laguna. The previous month the company reported drilling had encountered a new VMS zone with copper-zinc-gold-silver results on the 51%-optioned Talbot property. A 2016 43-101 inferred resource for Talbot’s three zones totals 133.6 million pounds copper, 165,400 ounces gold, 107.4 million pounds zinc and 3.81 million ounces silver.

Rockcliff’s northern Manitoba package also includes the Rail deposit with a 43-101 copper-polymetallic resource, three zinc deposits with historic, non-43-101 estimates in addition to Bur, as well as the three gold properties. All sit within trucking distance of two Hudbay plants.

Late last month Rockcliff closed an oversubscribed private placement of $1.35 million.

Read more about Rockcliff Copper here and here.

Drilling begins as Kapuskasing tests historic high-grade copper in Newfoundland

November 3rd, 2017

by Greg Klein | November 3, 2017

A non-43-101, historic estimate of about a million tonnes averaging 1% copper has Kapuskasing Gold TSXV:KAP working to prove up a resource at its Lady Pond project in northern Newfoundland. Now underway, the first phase of modern drilling will sink eight to 12 holes totalling about 1,000 metres on the 2,450-hectare property.

Drilling begins as Kapuskasing tests historic high-grade copper in Newfoundland

Recent field work produced high-grade surface
samples from Kapuskasing’s Lady Pond copper project.

Three areas of interest are the Lady Pond prospect, the Twin Pond prospect and the Sterling prospect. The latter hosts a former mine and the historic, non-43-101 estimate that’s reportedly open in all directions. Some previous intercepts from Sterling, again historic and non-43-101, showed:

  • 5.5% copper over 4.42 metres, starting at 38.1 metres in downhole depth

  • 2.32% copper over 6.1 metres, starting at 106.68 metres

  • 1.45% copper over 4.57 metres, starting at 50.29 metres

Recent field work reported last month brought two Lady Pond surface grab samples grading 2.75% and 7.19% copper.

About 1.5 kilometres northeast, Twin Pond underwent 32 holes of drilling without an estimate being calculated. Some historic, non-43-101 highlights include:

  • 4.2% copper over 3.35 metres, starting at 82.3 metres

  • 2.16% copper over 3.05 metres, starting at 33.53 metres

  • 3.2% copper over 3.05 metres, starting at 70.14 metres

A recent grab sample from Twin Pond showed 9.03% copper.

One historic, non-43-101 assay for the Lady Pond prospect, about three kilometres northeast of Twin Pond, recorded 2.61% copper over 8.1 metres. A grab sample from the recent field work showed 0.089% cobalt, 1.54% copper and 9.4 g/t silver.

The property borders the town of Springdale and hosts logging roads and ATV routes. Another 94 kilometres by road sits Rambler Mining and Metals’ (TSXV:RAB) base metals mill. Rambler holds two historic, non-43-101 copper resources contiguous to Lady Pond.

In September Kapuskasing closed an option agreement on Daniel’s Harbour, a 1,050-hectare project on Newfoundland’s Great Northern Peninsula. Between 1975 and 1990, a former mine on the property produced around seven million tonnes averaging 7.8% zinc. The company considers Daniel’s Harbour prospective for additional Mississippi Valley-type deposits.

Just south of the peninsula, Kapuskasing holds the King’s Court copper-cobalt property.

The company closed private placements totalling $215,000 in August and $201,200 in June.

Read Isabel Belger’s interview with Kapuskasing Gold president/CEO Jon Armes.

Gold-copper grades complement Golden Dawn Minerals’ revival of B.C. past-producers

October 31st, 2017

by Greg Klein | October 31, 2017

As drilling continues, Golden Dawn Minerals TSXV:GOM released assays from Golden Crown, one of the projects included in the company’s plan to revive southern British Columbia’s historic Greenwood mining camp.

Gold-copper grades complement Golden Dawn Minerals’ revival of B.C. past-producers

So far the current Golden Crown program has sunk 1,488 metres in 21 surface holes. Results show significant gold and copper in massive sulphide zones or veins and adjacent wall rock, with mineralization in the host rock diorite and serpentinite, Golden Dawn stated. “This style of mineralization was not previously recognized and was not systematically tested in the historic drill holes,” the company added.

Some highlights from the project’s King and Winnipeg zones show:

Hole GC17-02:

  • 3.53 g/t gold and 0.11% copper over 12.3 metres, starting at 9.24 metres in downhole depth
  • (including 7.66 g/t gold and 0.13% copper over 4.6 metres)

GC17-05

  • 5.14 g/t gold and 1.18% copper over 7 metres, starting at 14.65 metres
  • (including 12.27 g/t gold and 1.96% copper over 2.7 metres)

  • 12.6 g/t gold, 2.9 g/t silver and 0.26% copper over 0.56 metres, starting at 79.96 metres

GC17-08

  • 7.55 g/t gold 2.4 g/t silver and 0.23% copper over 0.7 metres, starting at 80.52 metres

True widths weren’t available.

Golden Dawn stated the initial results remain consistent with previously reported assays for the project. At a 3.5 g/t gold-equivalent cutoff, Golden Crown’s 2016 resource shows:

  • indicated: 163,000 tonnes averaging 11.09 g/t gold, 0.56% copper and 11.93 g/t gold-equivalent for 62,500 gold-equivalent ounces

  • inferred: 42,000 tonnes averaging 9.04 g/t gold, 0.43% copper and 9.68 g/t gold-equivalent for 13,100 gold-equivalent ounces

Plans call for infill drilling to upgrade the inferred category and for rehab of the historic underground workings prior to bulk sampling and trial mining expected for next year. Released in June, Greenwood’s PEA also recommended further mine planning, along with metallurgical, geotechnical and environmental studies for Golden Crown.

Meanwhile de-watering continues at the former Lexington mine, another focal point in Golden Dawn’s Greenwood portfolio. The company plans to begin wet commissioning of its Greenwood plant once trial mining begins. The Greenwood projects all sit within an approximately 15-kilometre radius of the company’s processing facility, with a 212-tpd capacity expandable to 400 tpd.

Two weeks ago Golden Dawn released high gold grades, along with silver and base metals results, from sampling on some more recently acquired properties in its regional portfolio.

The June PEA focused on the Golden Crown, Lexington and Mae Mac past-producers, along with the plant. With existing infrastructure, Golden Dawn hopes to put the projects back into production without de-risking at the feasibility level.

In September the company closed the final tranche of a private placement totalling $2.3 million.

Read more about Golden Dawn Minerals.

Update: Mountain Boy Minerals hits visible gold, high-grade assays up to 14.93 g/t over 8.38 metres in NW B.C.

October 31st, 2017

Update: On October 31, Mountain Boy Minerals announced visible gold had been intersected on Red Cliff’s Waterpump zone, described as a faulted extension of the Montrose zone. Four holes had been completed so far at Waterpump, with at least four to six more to come. The company expects to release more Montrose assays soon.

by Greg Klein | October 26, 2017

With one of three drill campaigns vying for attention this season, Mountain Boy Minerals TSXV:MTB moves the Red Cliff project in British Columbia’s Golden Triangle closer to a maiden resource. The latest assays “continue to indicate a large and extensive mineralized zone that has a length of at least 600 metres, a depth of 600 metres and widths up to 40 metres,” said president Ed Kruchkowski. Highlights included 14.93 g/t gold over 8.38 metres and 9.5 g/t over 10.98 metres.

Mountain Boy holds a 35% interest in the project through a JV that has recently acquired additional claims.

Assays for the project’s Red Cliff and Montrose zones, about 1.2 kilometres apart, were released late last month. The current batch comes from Montrose:

Hole DDH-MON-14

  • 4.95 g/t gold over 3.96 metres, starting at 81.71 metres in downhole depth
Mountain Boy Minerals hits more NW B.C. high grades with 14.93 g/t gold over 8.38 metres

A rig tests the Red Cliff project’s Montrose zone.

DDH-MON-15

  • 3.8 g/t over 2.74 metres, starting at 14.63 metres

  • 3.31 g/t over 2.13 metres, starting at 21.65 metres

  • 6.12 g/t over 2.13 metres, starting at 29.7 metres

DDH-MON-16

  • 6.63 g/t over 9.14 metres, starting at 5.79 metres

DDH-MON-17

  • 6.21 g/t over 9.15 metres, starting at 17.38 metres

  • 7.01 g/t over 2.59 metres, starting at 28.81 metres

DDH-MON-18

  • 4.95 g/t over 7.93 metres, starting at 35.98 metres

  • 14.93 g/t over 8.38 metres, starting at 49.7 metres

DDH-MON-26

  • 4.93 g/t over 3.05 metres, starting at 258.54 metres

DDH-MON-27

  • 9.5 g/t over 10.98 metres, starting at 290.15 metres

True widths weren’t provided.

Still to come are assays for 20 other holes. The program drilled five holes on the Red Cliff zone and 35 on Montrose, with a highlight from the latter zone showing 19.9 g/t gold over 4.12 metres. The company now has a crew building a road to move the rig to the Waterpump zone for another eight to 10 holes.

Earlier this week Mountain Boy announced metallurgical results on two composite core samples from a single Red Cliff hole produced recoveries of 94.8% and 97.6% gold, additionally showing potential for lead and copper byproducts.

Also this week Mountain Boy and 65% JV partner Decade Resources TSXV:DEC stated they would buy the Red Cliff vendor’s 1% NSR on a pro rata basis. Mountain Boy’s share will cost $3,500 and 171,428 shares.

Two weeks ago the company released assays from its 20%-held Silver Coin, another Golden Triangle project that had completed 10 holes totalling 1,616 metres out of a 2,000-metre program. Results came in as high as 22.95 g/t gold and 13.1 g/t silver over 2.5 metres; along with 31.02 g/t gold and 28.5 g/t silver over 1.5 metres.

Assays are also pending from the season’s third drill campaign, which consisted of two holes sunk on a barite-sulphide area of Mountain Boy’s 100%-held Surprise Creek project.

The company closed a $586,400 private placement last month.

Read Isabel Belger’s interview with Mountain Boy Minerals chairperson René Bernard.

See an infographic about B.C.’s Golden Triangle.

Charles Desjardins discusses Pistol Bay Mining’s portfolio covering most of Ontario’s Confederation Lake belt

October 27th, 2017

…Read more

Paved with mineralization

October 27th, 2017

Norman B. Keevil’s memoir retraces Teck’s—and his own—rocky road to success

by Greg Klein

Norman B. Keevil’s memoir retraces Teck’s—and his own—rocky road to success

Profitable right from the beginning, Teck’s Elkview mine “would become
the key chip in the consolidation of the Canadian steelmaking coal industry.”
(Photo: Teck Resources)

 

“We were all young and relatively inexperienced in such matters in those days.”

He was referring to copper futures, a peril then unfamiliar to him. But the remark’s a bit rich for someone who was, at the time he’s writing about, 43 years old and president/CEO of a company that opened four mines in the previous six years. Still, the comment helps relate how Norman B. Keevil enjoyed the opportune experience of maturing professionally along with a company that grew into Canada’s largest diversified miner. Now chairperson of Teck Resources, he’s penned a memoir/corporate history/fly-on-the-wall account that’s a valuable contribution to Canadian business history, not to mention the country’s rich mining lore.

Norman B. Keevil’s memoir retraces Teck’s—and his own—road to success

Norman B. Keevil
(Photo: Teck Resources)

Never Rest on Your Ores: Building a Mining Company, One Stone at a Time follows the progress of a group of people determined to avoid getting mined out or taken out. In addition to geoscientific, engineering and financial expertise, luck accompanies them (much of the time, anyway), as does acumen (again, much of the time anyway).

Teck gains its first foothold as a predecessor company headed by Keevil’s father, Norman Bell Keevil, drills Temagami, a project that came up barren for Anaconda. The new guys hit 28% copper over 17.7 metres. Further drilling leads to the three-sentence feasibility study:

Dr. Keevil: What shall we do about Temagami?

Joe Frantz: Let’s put it into production.

Bill Bergey: Sounds good to me.

They schedule production for two and a half months later.

A few other stories relate a crucial 10 seconds in the Teck-Hughes acquisition, the accidental foray into Saskatchewan oil, the Toronto establishment snubbing Afton because of its VSE listing, an underhanded ultimatum from the British Columbia government, getting out of the oyster business and winning an unheard-of 130% financing for Hemlo.

Readers learn how Murray Pezim out-hustled Robert Friedland. But when it came to Voisey’s, Friedland would play Inco and Falconbridge “as though he were using a Stradivarius.” Keevil describes one guy welching on a deal with the (apparently for him) unarguable excuse that it was only a “gentleman’s agreement.”

Norman B. Keevil’s memoir retraces Teck’s—and his own—rocky road to success

Through it all, Teck gets projects by discovery or acquisition and puts them into production. Crucial to this success was the Teck team, with several people getting honourable mention. The author’s closest accomplice was the late Robert Hallbauer, the former Craigmont pit supervisor whose team “would go on to build more new mines in a shorter time than anyone else had in Canadian history.” Deal-making virtuoso David Thompson also gets frequent mention, with one performance attributed to his “arsenal of patience, knowledge of the opponents, more knowledge of the business than some of them had, and a tad of divide and conquer…”

Partnerships span the spectrum between blessing and curse. International Telephone and Telegraph backs Teck’s first foray into Chile but frustrates its ability to do traditional mining deals. The Elk Valley Coal Partnership puts Teck, a company that reinvests revenue into growth, at odds with the dividend-hungry Ontario Teachers’ Pension Plan. Working with a Cominco subsidiary, Keevil finds the small-cap explorer compromised by the “ephemeral response of the junior stock market.” And smelters rip off miners. But that doesn’t mean a smelter can’t become a valued partner.

Keevil argues the case for an almost cartel-like level of co-operation among miners. Co-ordinated decisions could avoid surplus production, he maintains. Teck’s consolidation of Canada’s major coal mines helped the industry stand up to Japanese steelmakers, who had united to take advantage of disorganized Canadian suppliers. “Anti-trust laws may be antediluvian,” he states.

Keevil admits some regrets, like missing Golden Giant and a Kazakhstan gold project now valued at $2 billion. The 2008 crash forced Teck to give up Cobre Panama, now “expected to be a US$6 billion copper mine.” Teck settled a coal partnership impasse by buying out the Ontario Teachers’ share for $12 billion. Two months later the 2008 crisis struck. Over two years Teck plunged from $3.6 billion in net cash to $12 billion in net debt.

But he wonders if his own biggest mistake was paying far too much for the remaining 50% of Cominco when an outright purchase might not have been necessary. Keevil attributes the initial 50%, on the other hand, to a miracle of deal-making.

For the most part Keevil ends his account in 2005, when he relinquishes the top job to Don Lindsay. By that time the company had 11 operating mines and a smelting/refining facility at Trail. A short chapter on the following 10 years, among the most volatile since the early ’70s, credits Teck with “a classic recovery story which deserves a full chapter in the next edition of Never Rest on Your Ores.” Such a sequel might come in another 10 years, he suggests.

Let’s hope he writes it, although it’ll be a different kind of book. As chairperson he won’t be as closely involved in the person-to-person, deal-to-deal, mine-to-mine developments that comprise the greatest strength of this book—that and the fact that the author grew with the company as it became Canada’s largest diversified miner.

Meanwhile, maybe Lindsay’s been keeping a diary.

The author’s proceeds go to two organizations that promote mining awareness, MineralsEd and Mining Matters.

Emerita Resources JVs on Spanish zinc project next to high-grade former mine

October 26th, 2017

by Greg Klein | October 26, 2017

A successful public tender brings Emerita Resources TSXV:EMO an acquisition hosting extensions of an adjacent past-producer characterized as “among the richest zinc mines in the world.” Through a newly formed JV, the company gets a 50% stake in the Plaza Norte project in northern Spain’s Reocin Basin. The neighbouring Reocin mine produced about 62 million tonnes averaging 11% zinc and 1.4% lead up to 2003.

Emerita Resources JVs on Spanish zinc project next to high-grade former mine

The regional government of Cantabria tendered 13,800 hectares of claims that lapsed when Reocin shut down. “Based on a rigorous review of [historic] drilling data, we are confident that we have selected the claims with the highest potential,” said Emerita president/CEO Joaquin Merino. “We are also extremely pleased with the strong support received from the community and government to date.”

Emerita will act as project operator on behalf of JV partner the Aldesa Group, a specialized construction and infrastructure firm with international operations. The tender granted rights to Plaza Norte for three years with an option to renew.

Emerita has been studying historic data from the property since mid-2016, building a database of over 300 holes totalling approximately 73,000 metres. The Plaza Norte claims cover most of the drilling area, including those with high-grade intervals, the company stated. Some examples include 9.72% zinc over 18.96 metres and 7.05% over 8.2 metres. The core was placed under government storage.

The JV will submit exploration plans to the government within four months.

Cantabria infrastructure includes an industrial port and an excellent rail and road network, Emerita added. Glencore operates a zinc smelter about 180 kilometres by road from Plaza Norte.

Regarding its bid on another Spanish project, last month Emerita reported encouraging news about the Paymogo property in Andalusia. After a competing bid was selected, a court ruled the process invalid, ordering bids to be re-assessed. The company expressed confidence that its bid would prevail if the process “eliminates the illegal criteria and leaves the legal criteria as originally scored.”

Paymogo hosts an historic, non-43-101 estimate of 34 million tonnes averaging 0.42% copper, 1.1% lead, 2.3% zinc, 44 g/t silver and 0.8 g/t gold.

In March the company announced progress on another disputed Andalusian tender, this one for the Aznalcollar zinc project.

Earlier this month the company announced conditional TSXV approval for its acquisition of the Salobro zinc project in Brazil. Salobro comes with an historic, non-43-101 estimate of 8.3 million tonnes averaging 7.12% zinc.

In June Emerita announced an option to acquire the Falcon Litio MG project, adjacent to Brazil’s only lithium mine.

Emerita also holds the Sierra Alta gold property in northwestern Spain.

King’s Bay Resources to begin first-ever drill program on Labrador copper-cobalt project

October 26th, 2017

by Greg Klein | October 26, 2017

Following up on field work and airborne geophysics, King’s Bay Resources TSXV:KBG has returned to its Lynx Lake property to prepare the site for an initial drill campaign. Under focus will be a VTEM-identified anomaly about 400 metres in diameter, extending about 50 to 300 metres in depth on the property’s West Pit.

King’s Bay Resources begins first-ever drill program on Labrador copper-cobalt project

A prospector displays a sample of
massive sulphides from Lynx Lake.

Historic, non-43-101 grab samples from the area brought up to 1.03% copper, 0.566% cobalt, 0.1% nickel, 5 g/t silver, 0.36% chromium, 0.39% molybdenum and 0.23% vanadium. At least two holes totalling 500 metres are planned.

About 24,000 hectares in size, the southeastern Labrador property has a year-round highway passing through the property and an adjacent powerline. East of the highway, historic, non-43-101 grab samples assayed up to 1.39% copper, 0.94% cobalt, 0.21% nickel and 6.5 g/t silver.

Earlier this month King’s Bay wrapped up Phase I exploration at its 200-hectare Trump Island copper-cobalt project on Newfoundland’s northern coast. Assays are pending for 15 outcrop samples showing sulphidic wall rock and massive sulphide veins.

In September the company offered a private placement up to $250,000. The previous month King’s Bay closed the second tranche of a financing that totalled $402,750.

See an infographic about cobalt.