Quantum Cobalt Corp. (OTC: BRVVF) (CSE: XMG) (FKT: 1MG) (formerly Bravura Ventures Corp.) is building one of the largest land packages in the prolific mining town of Cobalt, Ontario, Canada, with the option to acquire 100 percent of the Nipissing Lorrain Cobalt Property that includes two separate claims. The property, consisting of 29 claim units for approximately 464 hectares, is located in an historically mined area with rich deposits of cobalt, silver and nickel. The area is easily accessible by road with power and infrastructure nearby.
The company has already noted cobalt, silver and nickel mineralization is occurring on multiple fracture zones and veins within the property. Past production at the Nipissing Lorrain mine brought over 16,500 pounds of cobalt and 5,500 pounds of silver. The region has been the subject of mining and exploration since 1925 with the first shafts sunk in 1925 by Nipissing Mining Co. Ltd.
“We are pleased to add such a high quality project to our portfolio with such exceptional grades,” the company stated in a news release announcing the deal. “The exploration potential of this project is extremely exciting and we look forward to potentially proving up a world class resource base.”
Additional company mining projects include the Rabbit Cobalt property located near the town of Temagami near the eastern border of Ontario; the Kahuna Cobalt-Silver property located near Cobalt, Ontario; the Grew Creek project located in the Watson Lake Mining District in southeast Yukon; and the Musgrove Creek Gold Project, a low-cost, open pit gold opportunity. The company has mobilized field crews to carry out first-pass exploration on the Rabbit Cobalt and Kahuna Cobalt-Silver properties.
Global demand for cobalt, a key material in the manufacture of lithium-ion batteries, is expected to increase 10 percent this year alone with 43 percent of that growth going toward batteries used in electric vehicles. The world’s growing need for batteries and a desire to move away from fossil-fueled transportation is creating more interest in cobalt mines outside of the Democratic Republic of Congo, which is associated with child labor, corruption, and issues of geopolitical instability. The rapid adoption of electric vehicle between now and 2035 is projected to create a significant uplift for commodities such as cobalt. Macquarie Bank forecasts a deficit of 885 tons in 2018, with deficits of more than 3,200 tons and 5,300 tons expected in 2019 and 2020, respectively.
The management team at Quantum Cobalt Corp. includes CEO Greg Burns, who has over 22 years of corporate and technical experience in mineral exploration and has held executive board positions with several prominent exploration and mining companies in Canada and Australia. He is joined by Ken Tollstam, a CPA who has spent a number of years at Deloitte Touche where he obtained his CA before going on to hold various executive management and director of finance positions in several private and publicly traded companies.
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