Cobalt Explorationin British Columbia
Silver & Gold Explorationin BC's Golden Triangle
Cobalt is a much sought after metal in the past two years. Demand has grown remarkably and is expected to accelerate as production of electrical batteries comes onstream to underpin the growing electrical car market. Price for cobalt has rocketed from $10/lb to over $40llb since mid-2016.
Most of the world’s current cobalt supply comes from the Congo, an area marked by political and regional instability. Elon Musk, founder of Tesla, America’s largest electrically-powered car company, has repeatedly said that he wants to source all of the cobalt necessary for Tesla’s batteries within North America. This has led to an explosion of interest in developing cobalt production on the continent.
British Columbia has been an overlooked region in the North American hunt for cobalt resources. A mountainous area well-known for being extremely rich in conventional metals such as gold, copper, silver, etc., it is not generally thought of as a place to search for cobalt. This will change.
The British Columbia government has conducted many regional stream geochemical programs beginning in 1976. This has resulted in the taking of over 64,000 samples throughout the province, with every sample being analyzed for more than 30 elements, including cobalt. Many of these samples contain extremely anomalous levels of cobalt.
Silver Grail has acquired five properties which contain streams and their drainages from which some of the top 20 cobalt values in this 64,000 sample database have been taken. These highly anomalous sample sites will be followed up by further silt sampling, prospecting and geological mapping in 2018. The top prospects will be selected for drilling.
Silver Grail also owns an interest in the Roman property located just east of Harrison Lake. These claims cover the western end of a large ophiolite wherein soil sampling grids have shown highly anomalous values of cobalt (including nickel and arsenic). 3D IP geophysical surveys that have been run over a small part of the property have indicated a buried source which may be causing one of the anomalies. More work needs to be done to link the two anomalous areas together and to fully determine the extent of the cobalt anomalies. Preliminary indications are promising.
Silver Grail owns interests in 12 mineral properties in the southern portion of British Columbia’s famous “Golden Triangle”, a region known to have many world class deposits. Among these large deposits are Seabridge Gold’s KSM property, currently host to the world’s greatest undeveloped reserves of copper and gold, and also Pretium Resources’ Brucejack-Snowfield property, which controls Canada’s newest gold start-up, the $1 Billion, high-grade Valley of the Kings gold mine. West of these is the formerly producing Eskay Creek gold-silver mine, once the richest precious metal VMS mine in the world.
Many other prospects in the region are aiming for near term production--one of these covers the formerly producing Premier gold mine, North America’s greatest dividend-payer in the 1920’s (now owned by Ascot Resources). Silver Grail’s properties are all clustered around three other up-and-comers in the area, IDM Mining’s Red Mountain gold property, Auryn Resources Homestake gold-silver property, and Dolly Varden Silver’s property, the latter host to former producers Dolly Varden and Torbrit Mines (the Torbrit was Canada’s 3rd largest silver mine during the1950’s).
The Red Mountain property is expected to receive a green light from federal/provincial authorities later in 2018, with the company aiming for production in 2020. All of this activity has heightened awareness on the potential of the region and will help Silver Grail in its exploration efforts. Silver Grail staked its first claims in and around Stewart in 1980 and can be considered a pioneer in the region.