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First Cobalt buys mining claims in Ontario near past-producing Caswell mine

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First Cobalt buys mining claims in Ontario near past-producing Caswell mine

First Cobalt Corp. said Dec. 7 that it bought four contiguous mining claims in Ontario near the past-producing Caswell mine for 224,000 company shares.

The claims cover 650 hectares that may contain the extension of north-east trending structures related to mineralization at the Caswell mine and the Thompson prospect.

According to the company's release, a recent prospecting program at Caswell identified high-grade mineralization at surface, including 9.44% cobalt, 1.27% copper and 2.92% nickel.

First Cobalt recently completed a three-way merger with CobalTech Mining Inc. and Cobalt One Ltd., taking control of over 10,000 hectares of cobalt-prospective land and 50 historical mining operations in Ontario's Cobalt camp as well as a mill and a permitted cobalt refinery.