TSX.V: CPO, Pink Sheets:
CBBWF
VANCOUVER, Sept. 13, 2017 /CNW/ - Cobalt Power Group
Inc. (the "Company") (TSX.V: CPO, OTC Pink: CBBWF) is pleased
to announce that Phase 2 of its drill program on the Smith Cobalt
property is underway. Drilling services are, once again, being
provided by G4 Drilling of Val d'Or,
Quebec.
Phase 2 Drill Program Highlights:
- The campaign will comprise a minimum of 2000 meters – 10 to 15
drill holes.
- Initial focus will be on evaluating the newly discovered
mineralized zone - an outcrop containing five exposed, individual
vein swarms that display at least three different orientations (see
news release dated July 17,
2017).
- Drilling will also continue along the historical Smith Cobalt
shaft trend, following up on results of the Phase 1 drill program,
with the intention of extending the known mineralized veins.
"Our company continues to lead in the exploration for silver and
cobalt in the Cobalt Camp of Ontario," comments Dr. Andreas Rompel, President & CEO. "Phase 2
results will help us determine the mineral content and strike
extent of the veins in the recently discovered Smith Cobalt East
Zone as well as along the historical Smith Cobalt shaft trend."
Assay results have been delivered to the Company by SGS Canada
for approximately two thirds of the samples taken from the Phase 1
drill program. Quality Assurance/Quality Control review is
underway by the Company's Qualified Person. Final results
will be released when all assays have been received and
reviewed.
Cobalt Power also announces that it has staked 3 claims (13
units) in the southwestern corner of the Lorraine township of
Ontario, totaling 514 acres (208
ha). The claims are immediately to the west of the historic
Goodwin Lake shaft.
About the Smith Cobalt Project
The Smith Cobalt project is underlain by a sequence of Archaean
volcanics which are unconformably overlain by Huronian sediments.
These formations have been intruded by the Proterozoic-age
Nipissing diabase sill. Faulting,
on both a regional and local scale, has been found by surface
mapping and in drill cores. Polymetallic veining, and especially
pinkish-white carbonate veins, has also been reported. Thus, all
the necessary geological components of accepted mineralization
models for cobalt-silver have been identified on the
properties.
About Cobalt Power Group Inc.
Cobalt Power Group Inc. is a publicly traded Canadian
exploration company listed on the TSX-Venture Exchange (TSX-V: CPO)
focused on cobalt exploration and development.
The Company has made a series of strategic property acquisitions
over the past year, seeking cobalt mineralization near Cobalt, Ontario - a region with a long history
of silver and associated cobalt production. Property holdings
including the Canadian Cobalt Project and the Coleman Township properties total
approximately 21,000 acres (8,500 hectares) 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.
Chris M. Healey, P. Geo, a
Director of Cobalt Power Group is the qualified person responsible
for the technical content of this release, and consents to its
dissemination.
On behalf of the Board of Directors
"Andreas
Rompel"
_________________
Dr. Andreas Rompel, President and
CEO
Cobalt Power Group Inc.
www.cobaltpowergroup.com
We seek safe harbor.
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.
Forward Looking Information
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
News Release. WARNING: The Company relies on litigation protection
for "forward looking" statements. Actual results could differ
materially from those described in the news release as a result of
numerous factors, some of which are outside the control of the
Company. This news release does not constitute an offer to sell or
a solicitation of an offer to sell any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be
offered or sold within the United
States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
SOURCE Cobalt Power Group Inc