Go Cobalt to earn 100% interest in vanadium mine in Quebec
Date: Nov 9, 2018
Go Cobalt Mining (CSE: GOCO) has signed an option agreement with Contigo Resources to earn 100% interest in the Barachois vanadium property located in Quebec’s Gaspe Peninsula.
Barachois is a sedimentary hosted vanadium-selenium-silver-lead-zinc prospect that covers 1,801 hectares where carboniferous aged sediments have been shown to host sedimentary vanadium-zinc-lead mineralization. Historical work in the area identified three showings with samples yielding vanadium pentoxide grades in excess of 2%, lead over 8% and zinc over 5%, the miner said.
“This is a Canadian project with good grade and easy access. The area of mineralization presents the company with ways to add value at a relatively low cost,” said Go Cobalt’s President, Scott Sheldon, in a press release. “Our company is very excited to get into the vanadium space. Industrial demand combined with a future market for rechargeable electrochemical cells like the vanadium redox flow battery looks very encouraging,” he added.
Following the signing of the option agreement, Go Cobalt’s technical team will start a review and compilation of the project data to develop an exploration program aimed at expanding the historic zones of mineralization.
