TSX venture Exchange: FE
VANCOUVER, Feb. 28, 2018 /CNW/ - First Energy Metals
Ltd. (TSX-V: FE) (the "Company) is pleased to announce
that it has commenced Phase I of its exploration program at the
recently optioned Phyllis Cobalt Property (the "Phyllis
Property"). The program will comprise prospecting to locate
historical cobalt (Co) showing; trenching and sampling to confirm
reported cobalt, copper and nickel mineralization; and geological
mapping to further explore the cobalt mineralization along its
trend. Another purpose of the current work is to locate ground
geophysical survey areas and drill hole targets for the next phase
of exploration.
The Phyllis Cobalt property consists of 1792 hectares land
located in the Kenora Mining District of Ontario. Geologically, the Phyllis Property
claim block occupies the central portion of a ENE-WSW trending
greenstone belt, consisting of Mesoarchean to Neoarchean age mafic
to ultramafic rocks. These are bound by granite of varying
composition - ranging from tonalite to biotite-granodiorite.
The initial cobalt discovery on the Phyllis Property was made in
2010 and this historical discovery is reported to be an
80m x 60m outcrop and appears as a fairly structureless
gabbro, with the exception of an array of narrow quartz veins and
veinlets, which have sharp contacts with the country rock and trend
roughly NE-SW and appear to have been intruded relatively recently.
The gabbro itself is fine-to medium grained and appears highly
altered. The exposed outcrop follows the northern flank of a gentle
hill. Earlier excavations focused in the uppermost parts of the
topographic profile. The initial work program is currently
scheduled to begin on or before March 31,
2018
The technical information contained in this news release has
been reviewed and approved by Alexander
Pleson, P.Geo., a qualified person, as defined by NI 43-101
who works as consultant with the Company. The current exploration
work will be carried out under his supervision.
In addition, the Company would like to announce that Mr. Dennis
Cojuco has resigned as Chief Financial Officer and Corporate
Secretary. The Company would like to thank Mr. Cojuco for his
contributions towards the development of the Company to date. The
Company has appointed Mr. Jurgen
Wolf as Chief Financial Officer and Corporate Secretary of
the Company to replace Mr. Cojuco, effective immediately.
On behalf of the Board of Directors of
FIRST ENERGY
METALS LIMITED
"Ernest Peters"
Ernest Peters
President and CEO
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Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information within
the meaning of the Canadian securities laws. Forward-looking
information in this news release.
In connection with the forward-looking information contained in
this news release, First Energy has made numerous
assumptions. While First Energy considers these assumptions
to be reasonable, these assumptions are inherently subject to
significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which
could cause First Energy's actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking information contained herein. Known risk
factors include, among others: the Company may require additional
working capital sooner than predicted; the overall economy may
deteriorate; uncertainty as to the availability and terms of future
financing.
A more complete discussion of the risks and uncertainties facing
First Energy is disclosed in First Energy 's continuous disclosure
filings with Canadian securities regulatory authorities at
www.sedar.com. All forward-looking information herein is
qualified in its entirety by this cautionary statement, and First
Energy disclaims any obligation to revise or update any such
forward-looking information or to publicly announce the result of
any revisions to any of the forward-looking information contained
herein to reflect future results, events or developments, except as
required by law.
SOURCE First Energy Metals Limited