12 12 Page 12 By Gregory Reynolds CobalT ech Mining Inc has gotten the jump on its competitors in the cobalt feld by acquir ing a processing plant in the Northeastern Ontario commu nity of North Cobalt that is close to its cobalt mineral properties This acquisition enables CobalT ech to become one of the frst companies in North America to be able to process and refne cobalt The processing fa cility is currently fully permitted and production may be expanded to a maximum of 4000tday before addi tional permitting is required The company conducted full site vis its with the engineering frm Story Environmental of New Liskeard On tario It has been responsible for all environmental monitoring and per mitting for the last 10 years and also assisted in the process and provided copies of the compliance reports and various permits Under the terms of the LOI signed Feb 10th 2017 the company has the option to buy the refnery The seller remains responsible for debts result ing from previous operations This acquisition will position Co balT ech ahead of its competition in supplying the growing demand for ethically sourced cobalt commented Bruce Bragagnolo chairman of Co balT ech CobalT ech s vision of being one the frst companies to process cobalt in North America is taking a major ad vancement with the purchase of this facility This completes the goal of vertical integration from an opera tions standpoint CobalT ech will now be assessing whether to proceed alone or activ ely start looking for a strategic partner to help advance the project said Antoine Fournier president and CEO of CobalT ech A bonus for mining compani es seek ing the minera l cobalt in and around the T own of Cobalt is the existence of lar ge stockpile s left behind after ex traction during 19051968 CobalT ech is the owner of the past producing Duncan Kerr Property and related production facilities and equipment located in the area around the historic silver cobalt producing T own of Cobalt This area is host to a geological setting responsible for a unique mineraliza tion type composed of quartzcarbon ate veins enriched in silver cobalt nickelbismutharsenic The Duncan Kerr Project is comprised of a 323 hectare property hosting the past producing Kerr Lake and Law son Mines multiple aboveground stockpiles and a fully permit ted mill ing facility It is estimated that an additi onal 13 million tonnes of stockpiles exist on the property CobalT ech is working toward becom ing a major cobalt miner and pro ducer supplying the growing North American battery market The com pany aims to obtain 100 ownership of mineral deposits and processing fa cilities giving it the ability to deliver a ground to market business The Duncan Kerr Project was ac quired in November 2016 This ac quisition encompasses all assets of this 323 hectare property including the existing stockpiles and milling fa cility On Feb 15 2017 CobalT ech an nounced that it had acquire d addi tional strategically located properties around Duncan Kerr that increased by 8fold the total area of prospective ground under its control Company holdings total 264 hectares This new property is adjacen t to the Duncan Kerr and was host to the his toric Drummond Conisil Har graves Belmont Silver Cross Campbell Crowford Juno Air giod and Silver Bird Mines The 9 had an estimated total output of 455 million ounces of silver and 253000 pounds of cobalt while all at production depths never CobalT ech acquir es pr oduction facility near its cobalt pr operties COBAL T SPECIAL FEA TURE COBAL T SPECIAL FEA TURE Page 12 Page 13 exceeding 186m from surface The Conisil Mine is believed to have been one of the last mines to be near ing production in Cobalt before the price of silver collapsed in the mid eighties and the camp fell dormant An independe nt mineral resource study prepared in 2014 by Golder Associated Ltd estimated 6588 dry metric tonnes of crushed material resources contained in the 3 above ground stockpiles at an estim ated av erage grade of 761 gt and 95 Co Management estimates that an addi tional 13 million tonnes of stockpiles exist on the property and require fur ther drilling Historical drilling depths on the property have not exceeded 182 m depth leaving ample explora tion tar gets The milling infrastructure consists of a fully permitted 360 tpd milling facility with a gravity and fotation circuit expandable to 500 tpd that is stored on the property site This area was made famous by min eral discoverie s that opened the way for the prolifc T immins and Kirkland Mining Camps The area surround ing the T own of Cobalt is known for its unique geological setting respon sible for a unique mineralization type composed of quartzcarbona te veins enriched in silver cobaltnickelbis mutharsenic and to date 4649 mil lion oz silver have been produced in Cobalt The property hosts the pastproducing Kerr Lake and Lawson mines which operated between 1905 and 1966 and produced approximately 327 million oz silver as well as signifcant cobalt as a byproduct The surrounding infrastruc ture in cludes access to a municipal road highways railway spurs power and ample fresh water supply CobalT ech has announced positive re sults from the due diligence samples collected during a recent property vis it on the Duncan Kerr Project CobalT ech has successfully identifed highgrade cobalt and silver Three of the four samples reached the upper instrumental assay limits for cobalt and were reassayed using a higher limit method to adequately quantify the cobalt content of these rocks Silver content is usually very erratic on this type of deposit and these sam ples were selected to try to estimate a background value It is interesting to note that even the barren material returned positive silver grades the B A T T ER Y P O WERE D UNDE RG R O UN D MI N I N G E Q U I P MEN T M uc k m as t e r 600E B t he W o r ld s F ir st W or k i ng 6 y a r d ca p a ci t y ba t er y pow er ed un de r g r o un d l o ad e r LHD f o r h ar d r o c k w w w r dh m i ni ng e qu i pm e nt c o m M or e Info r m at o n Sc an n o w M uc kma st e r 3 T E B 1 15 m 1 5 y d M uc kma st e r 3 0 0 E B 2 3 m 3 y d M uc kma st e r 6 0 0 E B 4 6 m 6 y d L if m a s te r 6 0 0 EB S c is s o r lif H a ul ma st e r 8 0 0 20E B 20 to n n e 2 3 to n C ha r g i ng S ta ton s i m pl i f y i ng hea vy eq ui p m ent B O O T H O 18 C o me v i s i t us a t M a y 31 J un e 1 2 0 1 7 M c I nt y r e C o m mu n i ty C e nt r e company says Fournier said Although the intent was to gain an honest appraisal of the project we were very pleased to see that cobalt grades were above detec tion lim its for the 3 samples with vis ible mineralization These are samples coming from rock piles lying directly at surface on the property CobalT ech will now put to gether a plan of action to evaluate the surface potential of the project COBAL T SPECIAL FEA TURE COBAL T SPECIAL FEA TURE Page 13