First Cobalt doubles land position surrounding its Iron Creek Project in Idaho

First Cobalt Corp (CVE:FCC) (OTCQX:FTSSF) (FRA:18P) has increased the size of its land position surrounding its Iron Creek Project in Idaho by more than 100%.  The company said it acquired mining claims to the west of its existing cobalt-copper project, expanding its land package to over 1,600 hectares.  Located in the Idaho Cobalt Belt, the project is one of the few primary cobalt deposits in the world. The resource remains open westward along strike and down-dip -- and to date, cobalt-copper mineralization has been defined over a 900-metres (m) strike extent.  READ: First Cobalt to get $600,000 in US DoE funding over two years for collaborative mineral processing research program Highlights of the project include: Drilling at the western portion of the Iron Creek resource intersected higher-grade copper mineralization along with typical cobalt mineralization at depth; Geophysical signature of cobalt-copper mineralization at Iron Creek has been traced west toward the West Fork Property, highlighting further potential; and Geophysical surveys will be conducted at the West Fork property to test for cobalt and copper mineralization extensions "We believe that the Idaho Cobalt Belt is America's best opportunity to develop a domestic supply of this critical mineral, which is essential to national and economic security,” said CEO Trent Mell in a statement. "As we developed our plans for summer exploration and drilling at Iron Creek, the newly acquired property was deemed strategic to our quest to materially increase the size of the Iron Creek Project, both through extensions along strike and the potential for new deposits in a favourable geologic setting.” Mell added: "Following a remarkable year of growth in the European electric vehicle market, North America is poised to follow suit. This larger land package is consistent with our strategy of producing the world's most sustainable cobalt and could help America develop a domestic supply chain with a lower carbon footprint." First Cobalt said Iron Creek is one of many cobalt-copper resources and prospects within the Idaho Cobalt Belt. Mineralization-style throughout the Belt is considered to be strata-bound meta-sedimentary rock hosted. The United States Geological Survey deems these resources in Idaho to be strategically important as a domestic supply of cobalt. The company noted that Iron Creek currently has an Indicated Resource of 2.2 million tonnes at 0.32% cobalt equivalent (0.26% cobalt and 0.61% copper) for 12.3 million pounds of contained cobalt and 29 million pounds of contained copper, as well as an Inferred Resource of 2.7 million tonnes at 0.28% cobalt equivalent (0.22% cobalt and 0.68% copper) for an additional 12.7 million pounds of contained cobalt and 40 million pounds of contained copper. The resource estimate used a 0.18% cobalt equivalent cut-off grade. West Fork property As for the West Fork property, the company said it consists of 103 exploration claims and was acquired from DG Resource Management for a combination of cash and 250,000 shares. The seller retained a 1% net smelter royalty, half of which may be purchased by the company for C$750,000, with First Cobalt also retaining a right of first refusal for the sale of the remaining 0.5%. The land package lies immediately to the west of the Iron Creek Project, where drilling identified some of the highest-grade copper mineralization, including 2.22% copper over 13.4m. Drilling in this area also encountered typical cobalt mineralization at depth that has not been tested along strike toward the west. Cobalt and copper mineralization follow separate trends in the west, so the West Fork property provides access to test both.  First Cobalt said a previous geophysical survey will be extended to the West Fork property to potentially trace mineralization along the westward strike extension. Bedrock mapping and geochemical surveys are also planned to cover the entire West Fork property. Contact the author: patrick@proactiveinvestors.com Follow him on Twitter @PatrickMGraham