Cobalt Blockchain Inc. (COBC) has assets in the Democratic Republic of the Congo (DRC), and in North America, focused on strategic minerals, including tin, tantalum, tungsten, copper, and cobalt.
Democratic Republic of the Congo (DRC)
> KOLWEZI AND LUBUMBASHI AREAS
COBC has a definitive supply agreement for the provision of 40,000 tonnes per annum of cobalt concentrate (min 1% cobalt, ave 3-4% cobalt) commencing in June 2018.
In support of this supply agreement, COBC has begun initial arrangements to set up its cobalt trading facilities in the DRC.
These facilities will include a 1,000 square metre depot with storage, assay lab, clinic and office capabilities. The depot site will also incorporate perimeter fencing and security equipment.
We are expecting the first trading shipments shortly, on final approval of our DRC copper/cobalt license, which received provincial approval in May.
COBC has entered into two definitive joint venture agreements for cobalt / copper concessions in the DRC, totaling over 48 square kilometers.
COBC owns a 70% interest in Alpha Cobalt SAS, a joint venture between COBC and a private local partner. The two contiguous concessions controlled by Alpha Cobalt SAS contain 48 carrés, totalling 40.8 square kilometers. The properties are located about 50 kilometers to the east of Kolwezi and 10 kilometers from an operating mine at the Tenke Fungurume project, one of the world’s largest cobalt / copper deposits.
COBC also owns an 80% interest in Cobalt Blockchain SAS, a joint venture between COBC and a private local partner. The two contiguous concessions controlled by Cobalt Blockchain SAS contain 9 carrés, totalling 7.6 square kilometers. The properties are located about 50 kilometers from Lubumbashi in an area with active artisanal and small-scale cobalt / copper mining.
COBC is actively engaged in negotiations on several other cobalt / copper properties and supply agreements, and aims to announce further acquisitions or joint ventures when definitive agreements are concluded.
> TIMMINS, ONTARIO
COBC is undertaking nickel, cobalt, gold, zinc exploration in Timmins, Ontario by pursuing a Letter of Intent with Noble Mineral Exploration Inc. regarding Project 81 in Dargavel Township.
COBC has the right to earn up to a 75% interest in specific target areas up to 2,000 Ha
Project 81 is one of Canada’s largest, under-explored and privately-held land packages, approximately 30 km north of the major Timmins mining district and 2-3 km north of Kidd Creek.
The Property has been covered by modern Heliborne EM and Mag surveys which have identified a number of drill ready targets and conductor trends of Gold, VMS and Nickel. A proprietary Gravity Gradiometer Survey of Dargavel is currently being executed.
Image courtesy Noble Mineral Exploration Inc.