eCobalt Solutions Inc. (TSX: ECS) (OTCQX: ECSIF) (Frankfurt: ECO) is reporting receipt of assays for the first of three completed resource definition diamond drill holes which confirm intercepts above the current resource grade cut-off drilled on the Company’s Idaho Cobalt Project located near Salmon, Idaho.  These drill holes were recommended by Micon International Ltd. with the goal of upgrading a portion of inferred resources to indicated resources for inclusion in an updated feasibility study with optimized level mine plans and production schedules. 

Mr. Paul Farquharson, President and C.E.O. of the Company commented: “The Company is pleased to announce the first results of our 2017 drilling program which demonstrate the strength and continuity of the Company’s ICP resource and continuation of high grade mineralization on strike and depth in this deposit.  The Company will continue to report these exciting results as it delivers on our intent to maximize value to its shareholders through continued development of measurable asset values.”

Mineral Resource and Reserve Optimization

The Company has received assays for the first hole of a completed three hole, 5,000-foot drill program on schedule.  Results of this hole identified resource grade (>0.25% Co) intercepts in all three lenses comprising the Ram resource. Specifically;

From 1,260.9 feet to 1,266.9 feet, a 6 foot intercept @ 0.40% Co, 0.3% Cu

From 1,276.0 feet to 1,282.0 feet, a 6 foot intercept @ 0.44% Co, 1.6% Cu

From 1,311.4 feet to 1,327.4 feet, a 16 foot intercept @ 0.51% Co, 1.8% Cu

Two additional completed holes, pending assay results, also intersected mineralized zones as anticipated in the September 27, 2017 Feasibility Study (“FS”) resource model.  Based on core logging, and pending assay results, this drill program is expected to have a positive impact on the project’s resource model.  The Company has engaged Micon International to produce an updated resource model for the ICP in Q1 2018 to incorporate these assay results.  In addition, a fourth drill hole was completed in coordination with an independent geotechnical firm to provide rock mass data and acquire additional mineralized material for metallurgical testing. 

The Company believes the updated resource and mine plans will have a positive impact on mine unit costs per lb of cobalt and life of mine cobalt production which would positively impact project economics.

Quality assurance and quality control

All samples were shipped to ALS Global labs in Elko, Nevada for preparation and shipped to ALS Global labs in Vancouver, BC for analysis.  ALS AA46 method, typically used for higher grade assays, was used for cobalt and copper analysis.  Blind standards and blanks were inserted into the sample chain representing approximately 10% of the samples assayed.

E.R. (Rick) Honsinger, P.Geo., Senior V.P. with eCobalt, is the Qualified Person who has reviewed and approved the contents of this news release.

About eCobalt Solutions Inc.

eCobalt is a well-established Toronto Stock Exchange listed company committed to providing ethically produced, environmentally sound, battery grade 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 ICP, located in East Central Idaho, is the only near term, 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.