Canada’s First Cobalt has completed a second transaction in the U.S. state of Idaho, increasing its position around its Iron Creek co-balt-copper project, the miner said in a statement.
The company has announced an earn-in agreement with Phoenix Copper Limited which covers 224 hectares of property, allowing First Cobalt to expand its land position to more than 1,820 hectares "covering the strike extent of strata hosting mineralisation."
"Located in the Idaho Cobalt Belt, the Iron Creek Project is one of the few primary cobalt deposits in the world. The deposit remains open to the east and west along strike as well as down-dip. To date, cobalt and copper resources have been defined by drilling over a 900-metre strike extent. The Idaho Cobalt Belt contains the largest primary resources of cobalt in the United States according to the U.S. Geological Survey," the company said.