TSX.V: CPO, Pink Sheets: CBBWF
TORONTO, Aug. 15, 2018 /CNW/ - Cobalt Power Group Inc.
("Cobalt Power" or the "Company") (TSX.V: CPO, OTC Pink: CBBWF) is
pleased to announce recent results from recently completed late
winter lake bottom sediment sampling programs completed on
Blueberry and Little Trout Lake Properties (the "Properties") by
the vendors of the Properties.
Highlights
- Two samples from Little Trout Lake returned highly anomalous
values of Co, Cu and Zn (177 ppm Co, 327 ppm Cu and 161 ppm Zn, and
111 ppm Co, 262 ppm Cu and 151 ppm Zn).
- One sample from Blueberry Lake returned highly anomalous values
of Co (159 ppm Co).
The Blueberry Lake Property was staked to cover the possible
source rocks of two geochemically anomalous Co (+/-Pb and Zn) lake
bottom sediments, and the Little Trout Lake Property was staked to
cover two strongly anomalous Cu and Co lake bottom sediment
anomalies as reported by the OGS (Open File Report 6144).
Chris M. Healey, P. Geo, VP
Exploration and a Director of Cobalt Power commented, "These
results are highly encouraging as we have not previously seen such
significant cobalt values in areas underlain by the Huronian
Lorrain Formation."
A total of 18 lake bottom sediment samples were collected
through the ice on the Properties using a Hornbrook lake sediment
sampler. The lake sediment sampling program was completed under the
supervision of Joerg Kleinboeck, P.Geo. Results from
the programs are provided in the table below.
Chris M. Healey, P. Geo, Vice
President Exploration and Director of Cobalt Power Group is the
qualified person responsible for the technical content of this
release, and consents to its dissemination.
About Cobalt Power Group Inc.
Cobalt Power Group Inc. is a publicly traded Canadian
exploration company listed on the TSX-Venture Exchange and U.S.
Pink Sheets (TSXV CPO, OTC Pink: CBBWF) focused on cobalt
exploration and development. The Company has made a series of
strategic property acquisitions over the past two years seeking
cobalt mineralization near Cobalt,
Ontario, a region with a long history of silver and
associated cobalt production, and now in the Athabasca basin of Saskatchewan. Property holdings total
approximately 21,382 hectares (52,836 acres) in contiguous and
strategic claim blocks. There are several historic mining
operations on the properties that are potentially accessible,
including the Smith Cobalt shaft and its underground workings.
The TSX Venture Exchange Inc. has in no way passed upon the
merits of the proposed transaction and has neither approved nor
disapproved the contents of this press release.
We seek safe harbor.
www.cobaltpowergroup.com
Forward Looking Information
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
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"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. In particular, forward-looking
information included in this news release includes, without
limitation, the anticipated closing date of the Transaction, the
receipt of final court approval and other regulatory approvals.
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
each of Cobalt Power Group Inc., filed on SEDAR at www.sedar.com.
Although Cobalt Power Group Inc. believe 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, Cobalt Power Group Inc. disclaim any intention or
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or
otherwise.
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SOURCE Cobalt Power Group Inc