- COMPILATION INDICATES THE GENTLE FOLDING OF THE COPPER-COBALT VMS HORIZON
- PRELIMINARY INTERPRETATION OF THE 3D IP SURVEY IDENTIFIES DRILL TARGETS ABOVE THE 300 METRE VERTICAL LEVEL
VANCOUVER, British Columbia, Nov. 19, 2018 (GLOBE NEWSWIRE) — Declan Cobalt Inc. (“Declan” or the “Company“) (CSE: LAN) (FSE: DCR1) (OTC: DCNNF) is pleased to announce an interpretation update, based on newly acquired geophysical data and continued compilation of historical data.
The Property is comprised of 15,929 ha, located in Germany and the Czech Republic. The focus of the current work program is on the historical Tisová Mine located on the Czech-German border (~320 ha). Multiple strata of copper and cobalt bearing volcanogenic massive sulphide (VMS) and magnetite iron formations occur in the Cambrian-age strata in the Tisová Mine workings.
The Czech state mining company, Rudné doly Příbram n.p., professionally decommissioned the Tisová Mine in 1994, providing Declan with historical data, used to complete 3D geological modeling mated with the 3D modeling of the newly acquired geophysical data.
3D Geological Modeling: Declan’s consultant, Paul McGuigan, P. Geo. of Cambria Geosciences, assembled a 3D model of data from the mine closure report and drawings by Kozubek et al. (1994) and drilling data from the Czech Geological Survey Archive (“Kutná Hora Geofond”). Additionally, the Company recently acquired a full, multi-year study by Charles University, Prague of the structural geology of the mine (Pertold et al., 1971). This large collection of data and drawings has now been re-interpreted and posted to the Company’s 3D model forming the initial framework for the interpretation of the new geophysical surveys.
3D Resistivity & Induced Polarization Survey: Dias Geophysical’s DIAS 32 survey is complete over the entire Tisová concession and adjacent areas. Successful implementation of this innovative system is shown by the following preliminary results:
- Data acquisition from greater than 500 to 600m below the surface and below the deepest 9 Level exploration drilling.
- Low and High Resistivity responses correlate with the 3D modeled geology. Low resistivity corresponds to the metamorphosed euxinic sediments and the principal VMS horizons.
- Shallow Drill Targets: Low resistivity responses located at shallow depths (about 200 m below surface) correlate with strata extending down-dip and along strike of stoped-out areas. Detailed modeling is underway to define promising shallow drill targets.
- Deep Drill Targets: Low resistivity targets at depth (~450 metres) seem to correspond to higher sulfide bearing zones identified from underground drilling. The intent is to have Dias Geophysical to reprocess the data to determine better interpretation to provide deeper core drill targets.
Continuing Work Program:
- Another series of detailed 3D inversions are being completed to further define the resistivity/chargeability responses.
- The Terratec Geophysical Services detailed ground magnetic data will be integrated into the compilation and provide additional ability to refine core drill targets.
- A core drill contractor will be selected and the timeline for drilling will be formulated. Year-round drilling is feasible on the Tisová concession due to favorable terrain and excellent infrastructure.
President Wayne Tisdale states: “This treasure trove of historic data, combined with modern data compilation is helping us understand the mineral potential of Declan’s Czech-German copper-cobalt project. We are truly excited to commence our core drilling program.”
Mr. Garry Clark, P. Geo., of Clark Exploration Consulting, is the “Qualified Person” as defined in NI 43-101, who has reviewed and approved the technical content in this press release.
For additional information, please contact:
Declan Cobalt Inc.
Wayne Tisdale, President and CEO
T: (604) 639-4455
Investors are cautioned that the historical estimates do not mean or imply that economic deposits exist on the Property. Other than as provided for in this press release, the Company has not undertaken any independent investigation of the historical estimates or other information contained in this press release nor has it independently analyzed the results of the previous exploration work in order to verify the accuracy of the information. The Company believes that the historical estimates and other information contained in this press release are relevant to continuing exploration on the Property because they identify significant mineralization that will be the target of the Company’s exploration program.