Miners More Optimistic as Cobalt Prices Shoot Up On Continued Battery Materials Demand - Seite 2

From 1979 through to 1980, Teledyne Canada Ltd., completed 6 surface diamond drill holes and 22 underground diamond drills for an aggregate of 3,160.8 m on the Teledyne Cobalt Property. Based on the surface and underground diamond drill programs, historical reserves of 60,000 tons in the geologically inferred category, and 40,000 tons in the probable category, at an average grade of 0.45% Co, 0.6 oz/t Ag was estimated (Linn, 1983). The reserve estimate is a historical estimate as defined by National Instrument 43-101. The historical reserve estimate contains categories that are not consistent with current CIM definitions. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. No attempt was made to reconcile the historical reserve calculations as reported by Teledyne Tungsten. LiCo is not treating the historical reserve estimate as a current mineral resource or mineral reserve. Read this and more news for LiCo Energy at: http://www.marketnewsupdates.com/news/wctxf.html  

LiCo's Phase 1 diamond drill program was designed to confirm and extend the existing known mineralization along strike and up and down dip, and LiCo was successful in completing this objective. The program tested the Teledyne Zone for a strike length of approximately 220 m. A Summary of the most significant results of the Phase 1 Diamond Drill Program completed on the Teledyne Cobalt Property are:

- TE17‐01 0.62% Co over 6.00 m from 136.00 to 142.00 m including 3.92% Co over 0.75 m from 140.25 to 141.00 m.

- TE17-02 0.95% Co over 1.90 m from 143.0 to 144.9 m, incl. 2.58% Co over 0.60 m from 144.30 to 144.90 m.

- TE17-02 0.59% Co over 3.90 m from 156.0 to 159.9 m, incl. 2.22% Co over 0.60 m from 156.6 to 157.2 m.

- TE17‐04 1.82% Co over 6.00 m from 138.00 to 144.00 m, including 5.06% Co over 1.75 m from 141.25 to 143.00 m

- TE17‐05 2.32% Co over 4.00 m from 126.5 to 130.50 m

- TE17‐05 1.70% Co over 6.00 m from 136.00 to 142.00 m.

- TE17-07 0.50% Co over 2.10 m from 127.60 to 129.70 m

- TE17-08 0.77% Co over 3.40 m from 169.50 to 172.90 m, including 1.17% Co over 2.00 m from 169.50 to 171.50 m.

- TE17-08 0.59% Co over 1.20 m from 174.00 to 175.20 m.

- TE17-08 0.62% Co over 0.60 m from 178.60 to 179.20 m.

- TE17-11 0.54% Co over 2.00 m from 130.00 to 132.00 m

A summary of the most significant results from the Phase 1 diamond drilling program are provided in Table 1, while drill hole collar information is provided in Table 2 which can be seen at:  http://www.marketnewsupdates.com/news/wctxf.html