Cobalt Power Group Inc.

Cobalt Power Group Inc.

November 22, 2016 06:00 ET

Cobalt Power Group Announces New Sampling Program & Additional Staking

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 22, 2016) - Cobalt Power Group Inc. (TSX VENTURE:CPO) is pleased to announce the staking of an additional 20 acre (8 hectare) mineral claim located immediately west of the Smith Cobalt Property extensions. Also, further to our successful initial sampling program, (see news release dated November 17, 2016), a technical team is currently on the Smith Cobalt property collecting additional ground samples, clearing access to underground workings, and meeting with a mining engineer to review options for re-opening historical mine shafts.

"The late arrival of snow in the Cobalt area allows us to continue with ground exploration work. We are excited to start the process of gaining access to the underground intersections of the veins for further exploration, including direct vein sampling and underground drilling," Dr. Andreas Rompel, President & CEO, comments. "As well, we continue to acquire prospective cobalt targets, adding to our already sizeable land package in the Cobalt, Ontario region."

About the Smith Cobalt Properties

The Smith Cobalt properties are underlain by a sequence of Archaean volcanics which are uncomformably 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 VENTURE:CPO) focused on cobalt exploration and development.

The Company has made a series of strategic property acquisitions over the past several months, seeking cobalt mineralization near Cobalt, Ontario - a region with a long history of silver and associated cobalt production. Property holdings total 720 ha (1780 acres) in contiguous blocks. There are several historic mining operations on the property that are potentially accessible, including the Smith Cobalt shaft and its underground workings.

On behalf of the Board of Directors

Dr. Andreas Rompel, President and CEO, Cobalt Power Group Inc.

We seek safe harbor.

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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.

Contact Information

  • Cobalt Power Group Inc.
    Daniel Caamano
    VP Corporate Communications

    Cobalt Power Group Inc.
    Judy A. McCall
    Corporate Secretary