January 3rd, 2017 – Vancouver, British Columbia; – LiCo Energy Metals Inc. (“the Company” or “LiCo”) TSX-V: LIC, OTCQB: WCTXF
is pleased to report assay results for drill holes TE17-02 and TE17-03
completed on the Teledyne Cobalt Property, located 6 km northeast of
Cobalt, Ontario.
A summary of the most significant results of the recent drill core assays are:
- TE17-02 0.95% Co over 1.9 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 3.9 m from 156.0 to 159.9 m, incl. 2.22% Co over 0.60 m from 156.6 to 157.2 m
On the Teledyne Cobalt Property, the Company completed a total of 11
diamond drill holes totaling 2,200 m in the fall of 2017. The drilling
has confirmed the cobalt mineralization on the Property which is
consistent with historical grades and widths reported historically.
As reported on the Company’s November 30th, 2017 news release, LiCo
has recently completed its 2017 diamond drilling program on its Teledyne
and Glencore Bucke Properties completing a total of 32 diamond drill
holes, drilling 4,100 m of core. This exploration work satisfies both
its flow-through financing obligations and the contractual obligations
outlined in the recently acquired Glencore Bucke Property from Glencore
plc of Baar Switzerland (LSE: GLEN). The overall drilling program has
confirmed and extended the cobalt mineralization on each property and
these results are consistent with historical grades and widths in the
overall Cobalt Camp. As reported previously, visual cobalt camp style
mineralization has been noted in every drill hole that the Company has
logged.
LiCo Energy Metals Inc. is a Canadian based exploration company whose
primary listing is on the TSX Venture Exchange. The Company's focus is
directed towards exploration for high value metals integral to the
manufacture of lithium ion batteries.
Ontario Teledyne Cobalt Project:
The Company has an option to earn 100% ownership, subject to a
royalty, in the Teledyne Project located near Cobalt. Ontario. The
Property adjoins the south and west boundaries of claims that hosted the
Agaunico Mine. From 1905 through to 1961, the Agaunico Mine produced a
total of 4,350,000 lbs. of cobalt and 980,000 oz. of silver
(Cunningham-Dunlop, 1979). A significant portion of the cobalt that was
produced at the Agaunico Mine located along structures that extended
southward onto property currently under option to LiCo Energy Metals.
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