15 May 2018

NL based mineral resource company Puddle Pond Resources Inc. announces it has identified a region of highly anomalous cobalt values in lake sediment samples at the site of its Heritage Project on the Burin Peninsula, southern Newfoundland.  This anomaly labeled the Fortune Cobalt Anomaly “FCA” is a bulls-eye target defined by a cluster of highly anomalous values covering a 6 x 9 km area underlain by sedimentary rocks including a thick quartzite unit.  The anomalous cobalt values were detected during a government lake bottom sediment survey in the late 1990’s.  Research of the historical results show the FCA includes the highest cobalt values (e.g. 481 ppm & 561 ppm) recorded during the government survey which covered the province of Newfoundland and Labrador.


The geological setting of this anomalous region is similar to the Blackbird district within the Idaho Cobalt Belt, the most prolific trend and prime exploration area in the USA to discover large primary cobalt resources.  Quartzite is a host to the cobalt mineralization in the Blackbird district which includes at least 8 major ore zones from which cobalt has been produced since the late 1800’s.


The 6 x 9 km area of the FCA also contains highly anomalous barium up to 1300 ppm (0.13%) commonly associated with the cobalt mineralization in the Blackbird district and in other cobalt districts such as Sheep Creek in central Montana.  Other elements such as manganese (Mn), iron (Fe) and arsenic (As) associated with cobalt in these USA deposits are also highly anomalous in the lake sediment samples defining the FCA, with Mn up to 107,000 ppm (10.7%), Fe up to 16.8 %, and As up to 150 ppm.


Other geological features of the USA cobalt districts include the structural control of mineralization that is localized along major shear zones and close to mafic intrusive rocks. The FCA anomalous sample sites are aligned along an NNE (030°) trend, the major structural control on the gold & silver mineralization in the nearby epithermal system which also contains mafic intrusive rocks.


The company has staked 155 mining claims covering the FCA and increasing the project size to 607 claims covering 38,089 acres – 15,421 hectares, making it the largest exploration project is this area of insular – Newfoundland. The FCA is 2,000 metres west of the Point May Epithermal System (PMES), the focus of its on-going drilling program which since 2013 has successfully outlined gold and silver mineralization in this system. Puddle Pond plans to carry out follow-up ground-truthing and airborne geophysical surveys over the new claims as part of the 2018 exploration program.


The technical information in this release was compiled by President and COO, Victor A. French, P. Geo. Who is a qualified person under NI 43 – 101 guidelines.

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