Vancouver, British Columbia--(Newsfile Corp. - January 10, 2019) - M2 Cobalt Corp. (TSXV: MC) (OTCQB: MCCBF) (FSE: AOK) (the "Company") is pleased to announce that it has completed 2,027 metres of diamond drilling and 15 drill holes on several high priority targets prior to December 13, 2018 when drilling operations were halted for scheduled winter break. Drill core samples from this phase of the Company's initial drill program have now been received by ALS Chemex South African (PTY) Ltd, an independent and fully accredited laboratory in South Africa, for analysis with dissemination of results currently anticipated by mid-February 2019.
During its phase 1 work programs, the Company targeted 3 distinct styles of mineralization; volcanogenic massive sulphide ("VMS") copper-cobalt at its Kilembe-area properties, Katanga-style sediment hosted, copper-cobalt mineralization at Bujagali as well as ultramafic nickel, copper and cobalt at Bombo. The Company's phase 1 drill program is designed to further test key targets in each style of mineralization and to position the Company to embark on a larger Phase 2 drill program.
Simon Clarke, CEO said, "We are very pleased with the progress made in 2018 through our in-depth work programs, where we brought the latest exploration technologies and techniques into this highly under-explored region, as well as this first phase of our initial drill program. Once the results from this initial phase of drilling are received and reviewed, they will position us to launch our 2019 programs. We are excited to build on the progress made during 2018."
All rock and soil samples were sent to ALS Chemex South Africa (Pty) Ltd., an independent and fully accredited laboratory in South Africa for analysis for gold multi-element Induction Coupled Plasma Spectroscopy. M2 Cobalt also has a regimented Quality Assurance, Quality Control program where at least 10% duplicates and blanks are inserted into each sample shipment.
M2 Cobalt Corp. is focused on discovering and developing world-class cobalt assets (and related minerals) to help address the growing deficit in the supply of cobalt. The Company has a large, highly prospective land package in the Republic of Uganda, East Africa bordering historic production and on the same mineral trends as some of the major mines in the neighbouring DRC where over 60% of world cobalt supply originates. Uganda is a stable country with a growing economy looking to re-energize its historic mining industry. The Company has a highly experienced management team and board of directors, which has been involved in funding and advancing resource projects globally. Further information on the Company and its projects can be found at www.m2cobalt.com
The technical content of this news release has been reviewed and approved by Dean Besserer, P.Geol., the Technical Advisor of the Company and a Qualified Person as defined by National Instrument 43-101.
On behalf of the Board,
M2 COBALT CORP.
Simon Clarke, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to exploration work to be undertaken in Uganda, the reliability of third party information, and certain other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.