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VANCOUVER, British Columbia, May 22, 2018 (GLOBE NEWSWIRE) — Hybrid Minerals Inc. (TSXV:HZ) (Frankfurt:HM4) (“Hybrid” or the “Company”) is pleased to summarize historic exploration activities on the CAS Project and announce plans for more exploration work.
The Project is located within the Idaho Cobalt Belt, the prime cobalt exploration area in the USA. It contains several important cobalt/copper/gold deposits, including the Blackbird mine (eCobalt Solutions) and the Iron Creek Project (First Cobalt). It consists of 85 mining claims and adjoins the northern boundary of First Cobalt’s Iron Creek Project. The stratiform deposits are hosted in metasedimentary strata of the Apple Creek Formation (Proterzoic age).
Drilling on the property has encountered significant cobalt and gold mineralization, including:
- IC03-03 1.5m @0.54% Co and 8.5g/t Au
- IC03-04 4.6m @0.34% Co and 8.3g/t Au
- IC03-07 3.0m @0.08% Co and 9.2g/t Au
Cobalt and gold deposits are exposed at the surface, including road cuts; and additional subsurface resources are indicated by ground geophysics (SP and Resistivity anomalies). A detailed airborne magnetic survey outlines the structure and stratigraphic units of the project area.
James Lunbeck (QP) collected surface samples that contained significant amounts of cobalt and gold. Cobalt values ranged from 82 ppm to 6360 ppm (average 2512 ppm); gold values ranged from 0.39 ppm to 29.7 ppm (average 14.7 ppm). This work was followed up with a NI 43-101 compliant Technical Report. The Technical Report recommended additional work and proposed an exploration program with a budget of $251,000 USD.
A trenching program was conducted this past field season to test some geophysical anomalies. A Plan of Operation has been submitted to the US Forest Service for more trenching and drilling to be done this coming field season.
For more information on Hybrid please visit the Company’s website at: www.hybrid-minerals.com.
Chief Executive Officer
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FOR ADDITIONAL INFORMATION CONTACT:
Hybrid Minerals Inc.
Office: 604-719-8129; email: email@example.com
Completion of the proposed transaction is subject to a number of conditions, including receipt of appropriate regulatory approvals. The transaction cannot close until all such conditions are satisfied. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the disclosure document to be prepared in connection with the transaction, any information released or received with respect to the Acquisition may not be accurate or complete and should not be relied upon. Trading in securities of Hybrid Minerals Inc. should be considered highly speculative.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Concurrent Financing have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. Important factors – including the availability of funds, the results of financing efforts and the parties’ due diligence reviews, and general market conditions – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
We seek safe harbour.