Formation Capital drills Idaho Cobalt (June 07, 2004)

Vancouver — Formation Capital (FCO-T) has launched a 7,500-metre drill program at its Idaho Cobalt project in east-central Idaho.

The core drilling is aimed at upgrading the diluted proven, probable and inferred resource of 3.2 million tonnes grading 0.61% cobalt, 0.45% copper and 0.59 gram gold per tonne.

Idaho Cobalt is at the permitting and feasibility stage of development.

Cobalt recently traded in the range of US$26-30 per lb.