COMMITTED TO PROVIDING CLEAN COBALT PRODUCTS, ESSENTIAL FOR THE RAPIDLY GROWING RECHARGEABLE BATTERY AND RENEWABLE ENERGY SECTORS, MADE SAFELY, RESPONSIBLY AND TRANSPARENTLY IN THE UNITED STATES.
TSX: ECS | OTCQX: ECSIF | FRA: ECO
eCobalt is committed to providing clean cobalt products essential for the rapidly growing rechargeable battery and renewable energy sectors, made safely, responsibly, and transparently in the United States. The Company’s Idaho Cobalt Project (“ICP”), located in East Central Idaho, is the only environmentally permitted, primary cobalt project in the United States. It is 100% owned by the Company’s wholly owned subsidiary, Formation Capital Corporation, U.S.
The ICP will produce a clean cobalt concentrate, an upstream precursor material for battery cathode production. A 2018 Updated Resource Model outlined 45.7M lbs Measured and Indicated Cobalt and 16.7M lbs Inferred. A new optimized feasibility study with updated reserve model is being finalized for Q3 2018.
Underground mine development is slated to commence in Q1 2019 with commercial production in 2020. Production is expected at a rate of 800 tpd over a minimum 12.5 year mine life.
- Advanced-Stage, Near-Term Clean Cobalt Producer
- Only Environmentally-Permitted Primary Cobalt Mine in the US
- Safe, Mining-Friendly Jurisdiction
- Tightening Supply Market – Growing Demand
- Commercial Production Expected in 2020
- Finalizing Optimized Feasibility Study
- Conducting additional pilot tests on ICP ore
- Advancing Due Diligence with potential off-take partners
- Construction activities underway
- Building Production-Ready team
Idaho Cobalt Project (ICP), Idaho, USA
- $120m In Expenditures To Date
- Environmentally Permitted
- Extensive Infrastructure In Place
- 12.5 Years Life Of Mine
- 45.7Mlbs of M&I Cobalt
- 1500tons Co/yr
Share Price Performance
DIRECTORS & MANAGEMENT
Paul Farquharson – President & CEO
Marc Tran – Chief Financial Officer
Floyd Varley – Chief Operating Officer
Rick Honsinger – Senior Vice President
Fiona Grant Leydier – V.P. Investor Relations
Dundee Corporation 10.4%
IDAHO COBALT PROJECT (ICP), IDAHO, USA
The Idaho Cobalt Project (“ICP”) is planned to be an underground mine and mill operation, exploiting the Company’s Ram deposit, located within the historic Idaho Cobalt Belt outside the town of Salmon, Idaho. The ICP is the only near-term, permitted primary cobalt project in the US.
The Company is currently preparing a new Optimized Feasibility Study (“OFS”), expected to be completed in Q3 2018. This new OFS will reflect flow sheet optimizations for the Cobalt Production Facility, where the original design reflected the production of cobalt sulphate heptahydrate. The new, much simpler design to produce a clean cobalt concentrate is expected to result in a significant improvement in the CAPEX and OPEX reported in the 2017 Feasibility Study.
Construction activities are underway in preparation for mine development to commence in Q1 2019. Environmental systems are being completed and critical equipment and power have been delivered to site.
2017 & 2018 Resource Model Comparison – Change in Measured & Indicated Resources
The Ram deposit, which currently hosts 100% of the ICP’s reserves and resources, represents only 7% of eCobalt’s total claims and remains open at depth and along strike offering significant opportunities for expansion.
- Ram Deposit represents only ~7% of total claim block
- Exploration drilling on ICP prospective targets returning intercepts above cut-off grade:
- Sunshine Deposit:
- 48 Core holes (29,144 ft)
- East Sunshine Zone:
- 24 Core holes (14,723 ft)
- Sunshine Deposit:
- Over a dozen additional prospective undrilled targets remain within the ICP claim boundary