COBALT-SILVER: CobalTech acquiring nine mines near Duncan Kerr project

ONTARIO – CobalTech Mining of Toronto has acquired nine past-producing mines around its Duncan Kerr project near the town of Cobalt. The company now has 264 hectares of land covering nine historical mines. CobalTech’s portfolio now includes the Drummond, Conisil, Hargraves, Belmont, Silver Cross, Campbell-Crowford, Juno-Airgiod, and Silver Bird mines. Together they  had an estimated output of 4.55 million oz. of silver and 253,000 lb. of cobalt from underground development that was never more than 185 metres from surface. The Conisil mine, owned by Agnico Eagle when it was closed in 1994, may contain non-compliant resources of almost 72,000 tonnes grading 0.17% cobalt and containing 270,462 lb. of cobalt and 500,000 oz. of silver. CobalTech has agreed to pay the vendor $250,000 and issue 5 million common shares to it. The company’s Duncan Kerr property includes the past-producing Kerr Lake and Lawson mines, several stockpiles on the surface, and a fully permitted 100-t/d mill. Please see www.CobalTechMining.com.