ONTARIO COBALT PROJECTS
The Professor Co-Ag Project is about 5km southeast of the town of Cobalt, Ontario, Canada. It consists of a contiguous landholding of 16 patent and leasehold claims for a total of 129.7 hectares and includes historical working known as the Professor Adit, 3 Oxford Shafts and the Cummins Pits.
About 1-2km east of the Professor claims are several former silver producing mines, including the Cobalt Lode, Christopher, Brady Lake and Beaver-Temiskaming mines. A few kilometres to the northeast lie the historical Conisil, Lawson, Kerr, Hargraves and Drummond mines.
Very little work and limited drilling has been completed on the project area since the mid-1960s and it is considered to be under-explored.
The historic 280m-long Professor Adit, with approximately 590 metres of lateral workings, was mined on the property in the early 1960s. The adit, which is still accessible, exposed four vein systems containing disseminated to semi-massive cobalt-silver mineralisation.
The Waldman Ag-Co project is located about 3km south of Cobalt and consists of a contiguous landholding of 11 Crown Claims, for a total of 188.8 hectares. The claim block includes the past producing Waldman Mine which can be easily gained through a dedicated road which runs off a main road running north-south at the east boundary of the Waldman Mine project.
The Waldman Mine, located on the eastern side of the claim block, operated periodically from 1910 to 1930. Shaft #1 was sunk 85 feet (26 metres) with drifting, cross cuts and stoping. Two more shafts were put down approximately 375 – 400 metres to the north of shaft #1.
Waldman historically produced about 33,525 ounces of silver and 2,066 pounds of cobalt, mostly from shaft #1.
Material recovered from a waste dump at Waldman demonstrated high grades of cobalt and silver mineralisation.
The Professor and Waldman cobalt projects include significant exploration upside and further growth opportunities due to minimal exploration techniques applied, structures are relatively shallow and amendable to geophysical surveys and low-cost, shallow drilling. Former mines provide a significant database for the Company on production assets and for exploration programs to target along strike.