Issue link: http://resourceworld.uberflip.com/i/963504
A P R I L / M A Y 2 0 1 8 www.resourceworld.com 39 the issued and outstanding shares of US Cobalt Inc. [USCO-TSXV; USCFF-OTCQB]. Under the terms, all of the US Cobalt issued and outstanding common shares will be exchanged on the basis of 1.5 First Cobalt common shares for each US Cobalt common share issued and outstanding. First Cobalt released positive assay results from the first drill holes from near the Kerr Mine in the Cobalt North area of the Cobalt camp. Results indicate a poten- tial zone of cobalt mineralization that can be tracked across more than 100 metres. iMetal Resources Inc. [IMR-TSXV; ADTFF-OTC; A7V-Germany] is exploring the Gowganda Camp about 60 km west- northwest of Cobalt. Besides silver and cobalt values, this area also hosts gold and copper. Sample 5578B from Zone 3A returned 34.44 g/t gold and 2.6% copper. Cobalt bloom has been discovered in Zone 4. Drilling is planned. See Resource World Feb-Mar 2018 page 80 for story and map. LiCo Energy Metals Inc. [LIC-TSXV; WCTXF-OTC] has entered into a property Purchase Agreement with Glencore Canada to acquire a 100% interest in the Glencore Bucke property situated 6 km east-northeast of Cobalt. The Glencore property consists of 16.2 hectares and sits along the west bound- ary of LiCo's Teledyne Cobalt Project which covers the southern extension of the former producing 15 Vein on the past-producing Agaunico Mine property. Historically, the Agaunico Mine produced 4,350,000 lbs of cobalt and 980,000 oz of silver during the mining boom of the early 1900s. LiCo completed a Phase 1 diamond drill program of 1,900 metres on the Bucke prop- erty last fall. Significant cobalt intersections included hole GB17‐10 which intersected 0.55% cobalt over 5.0 metres (28.00-33.0 m), and hole GB17‐15 which intersected 8.42% cobalt over 0.30 metres (62.40-62.70 m). Significant copper mineralization was also intersected including 0.90% cop- per over 20.2 metres (42.5-62.7 m) in hole GB17‐15, and 1.25% copper over 6.1 metres (67.5-73.6 m) in hole GB17‐21. Power America Minerals Corp.'s [PAM-TSXV; PWMRF-OTC; VVO-FSE] pri- mary asset is its Kittson cobalt property located approximately 8 km northwest of Latchford and 120 road-km north of North Bay, Ontario. The Kittson property includes 15 unpatented mining claims totaling 208 units or about 3,330 hectares. The project hosts the historic Shakt-Davis and Cobalt-Kittson mines and numerous historic workings. The deepest of these extends down to 628 feet and there are over 2,500 feet of lateral workings. The company's 2017 exploration program comprised reconnaissance pros- pecting, geological mapping and shallow diamond drilling using an ultralight por- table drill rig. At last report, drilling was continuing on the property. Quantum Cobalt Corp. [QBOT-CSE; BRVVF-OTC; 23B-FSE] is focused on determining the size and grade of a dump pile that was excavated during historic underground development work on its 464-hectare Nipissing Lorrain cobalt-silver- continued on page 69 COBALT continued on page 69