The Bloom Lake East Project is located in Newfoundland & Labrador and is situated alongside the Quebec-Labrador border. The project is prospective for both cobalt and iron mineralization. Part of the tenure comprising the Bloom Lake East Project was held in past under license by Rio Tinto Exploration Canada, Inc. and Consolidated Thomson Iron Mines Ltd.
The Bloom Lake East Project consists of 84 mineral claim cells covering three prospect areas hosting both cobalt and iron prospects.
Although the area has been of primary interest for its iron ore, deposits of sulphides also occur in several places. Exposed cobaltite has been discovered immediately west of Bloom Lake at the Walsh Cobalt Prospect which contains high-grade historic grab samples of 6.0% cobalt and 6.5% cobalt respectively.
Recent increased market demand for politically-secure cobalt supplies warrants an immediate exploration effort in this historic cobalt-hosting region, which until now has not been examined properly for its cobalt potential, because of robust iron ore markets.