Cobalt Power Group has revealed its plans to undertake a diamond drill program on its Silver Eagle Mining Lease in the Cobalt Mining Camp in Ontario, Canada.
The diamond drill program at the Silver Eagle Mining Lease, located in the Silver Centre area, will comprise drilling of up to six drill holes, for a total of 1000m.
Cobalt Power Group plans to start drilling immediately after receiving approved exploration permit from the Ontario Ministry of Northern Development and Mines.
The Canadian exploration company said that the targets at the Silver Eagle Mining Lease will be developed from the field mapping and sampling program that is currently being carried out.
The Silver Eagle Mining Lease lies immediately south of First Cobalt’s Keeley-Frontier mine, said Cobalt Power Group.
Historic mining operations at the nearby Wettlaufer Mine cut across the northwest corner of the lease reveal that nearly 8000oz of silver has been mined by 1918 from the 180ft and 230ft levels of the mine.
The mine operations cut about 20ft of the Silver Eagle lease.
Cobalt Power Group, in a statement, said: “The project area is underlain by Archean Keewatin volcanic rocks including intermediate to mafic metavolcanics and pillow lavas. The volcanics lie above the upper contact of the Nipissing diabase.
“In places the contact appears to be fault controlled, with a prominent NW-trending fault cutting the ENE-trending Wettlaufer fault within the lease boundaries.”
The Canadian exploration company said that mineralized vein at the project area is calcite-filled, up to 15cm wide, trends ENE and is subvertical.
According to the company, the reported grade from mining at the Wettlaufer is 293oz/T Ag and 1.36% Co.
Last month, Cobalt Power Group launched its summer exploration program at the Smith Cobalt, Montreal River West and the Ontario Cobalt claims.
The company also recently completed acquisition of Western Cobalt in an all-stock deal. At the time of the acquisition, Western Cobalt owned nine mineral claims in the eastern Athabasca basin of Saskatchewan and their addition expands Cobalt Power’s property to 19,826.80 hectares.