TORONTO, July 28, 2021 /CNW/ - First Cobalt
Corp. (TSXV: FCC) (OTCQX: FTSSF) (the "Company") today
announced a joint study with Timiskaming First Nation of
regional medicinal plants and mushrooms to assess the historic
effects of settlement, logging, mining and industrial practices on
the ecosystem in the past-producing Cobalt Camp mining district.
Results from the study will support the Wild Basket initiative
started by Ni Dakinan from the Timiskaming First Nation ("TFN").
First Cobalt is providing financial support and expertise regarding
metals and remediation while TFN is providing their traditional
ecological knowledge and environmental monitoring expertise.
Highlights
- The Wild Basket program is a community project in the
Timiskaming First Nation that harvests and sells wild products such
as edible mushrooms, plants and berries on their traditional
territory
- Using traditional Indigenous knowledge of the land, the program
is intended to promote sustainable living and supports community
efforts to preserve the environment and preserve traditional
culture
- Joint study with First Cobalt will be completed over a two-year
period to collect baseline data to identify the risk of
contaminants from human and industrial activity on TFN land to
harvested products
- Phase 1 is now underway, beginning with a field survey to
identify priority medicinal plants and mushrooms for future
monitoring
"We are looking forward to our partnership with First Cobalt
to initiate this study that will produce meaningful data that is
important to our community," said Timiskaming First Nation
Sustainable Development Manager, Lindsay
McLaren Polson.
President & CEO Trent Mell
added: "This program aligns with our commitment to
industry-leading ESG practices and we hope that this partnership
will help the Wild Basket Initiative thrive. It is our great
pleasure to partner with Ni Dakinan on a local study of wild
plants, mushrooms and berries to increase our collective knowledge
and learn how to minimize the impact of human activity on the
environment. We have been consulting with the Timiskaming First
Nation since 2017 and we are grateful for the insights and input
that we have received."
Timiskaming First Nation reserve is at the head of Lake
Timiskaming. The First Cobalt Refinery is located on Timiskaming
First Nation Anishinaabe territory.
The Wild Basket initiative was started by Ni Dakinan in 2019 to
create a sustainable business whereby wild plants can be harvested
and sold. Information from the program also helps the community to
protect the forests and natural environment. Benefits of the
program include cultural reclamation, stewardship of the land, food
security, economic and community development, mentorship and
training. More information can be found at
www.facebook.com/nidakinanTFN.
In partnership with First Cobalt, samples will be collected and
chemically analyzed to identify any existing heavy metals content
and other potential contaminants of concern. The study will be
conducted over two years, to establish a baseline for heavy metals
in plants within the study area. The study area encompasses the
historic Cobalt Camp mining district, where silver and cobalt were
discovered in 1903. This discovery resulted in intensive mining and
processing activity until 1931, with major operations continuing
until 1989. Any heavy metals identified in plants is expected to be
the cumulative effect of natural sources from bedrock, historic
mining activity and human settlement.
As part of First Cobalt's commitment to sustainable business
practices, ongoing monitoring will be conducted of the Company's
refining activities to measure the effects of its operations.
Refinery Overview
The First Cobalt Refinery is a hydrometallurgical refinery
located north of Toronto, in the
community of Temiskaming Shores. The facility operated from 1996 to
2015, producing cobalt, nickel, copper and silver products. The
Company is expanding the facility and modifying the flow sheet to
refine third party cobalt hydroxide intermediate product into a
high purity, battery grade cobalt sulfate suitable for the electric
vehicle market. Today, approximately 80% of cobalt sulfate is made
in China and there is no
production in North America. In
December 2020, the Government of
Canada and the Government of
Ontario announced a joint
$10 million investment in the First
Cobalt Refinery to help accelerate commissioning and expansion.
About First Cobalt
First Cobalt's mission is to be the most sustainable producer of
battery materials. In 2022, the Company plans to commission
North America's only cobalt
sulfate refinery, a critical asset in the development and
manufacturing of batteries for electric vehicles. First Cobalt also
owns the Iron Creek cobalt-copper project in Idaho, USA as well as several significant
cobalt and silver properties in the Canadian Cobalt Camp.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Note Regarding Forward-Looking
Statements
This news release may contain forward-looking statements and
forward-looking information (together, "forward-looking
statements") within the meaning of applicable securities laws and
the United States Private Securities Litigation Reform Act of 1995.
All statements, other than statements of historical facts, are
forward-looking statements. Generally, forward-looking statements
can be identified by the use of terminology such as "plans",
"expects', "estimates", "intends", "anticipates", "believes" or
variations of such words, or statements that certain actions,
events or results "may", "could", "would", "might", "occur" or "be
achieved". Forward-looking statements involve risks, uncertainties
and other factors that could cause actual results, performance and
opportunities to differ materially from those implied by such
forward-looking statements. Factors that could cause actual results
to differ materially from these forward-looking statements are set
forth in the management discussion and analysis and other
disclosures of risk factors for First Cobalt, filed on SEDAR at
www.sedar.com. Although First Cobalt believes that the information
and assumptions used in preparing the forward-looking statements
are reasonable, undue reliance should not be placed on these
statements, which only apply as of the date of this news release,
and no assurance can be given that such events will occur in the
disclosed times frames or at all. Except where required by
applicable law, First Cobalt disclaims any intention or obligation
to update or revise any forward-looking statement, whether as a
result of new information, future events or otherwise.
SOURCE First Cobalt Corp.