Plantation, FL (Marketwired) - Atacama Resources International (OTCQB: ACRL) announced today that it has engaged Canadian Exploration Services Ltd. (CXS) to conduct a geological evaluation of Atacama's Cabo property. The Cabo property is comprised of Mining Claim 4225513, located in the Township of Lorrain which is in the heart of all the high-profile cobalt activity surrounding the historic mining town of Cobalt, Ontario.
Glenn Grant, CEO, stated, "I am very excited to have a firm with the credibility and credentials of CXS to be handling this next stage of exploration on the Cabo Property. It is right in the middle of all the recent mining exploration activity being conducted for cobalt, so we are eager for this report to be completed. The Cabo property was previously mined for silver, and we believe that cobalt was also prevalent at that time. Anticipation of substantial findings is high due to the extensive cobalt exploration which is happening all around the property. The Company has owned the mineral rights to this property since October 2016. The mining activity around our property gives us great enthusiasm of our reserves once proven."
Cobalt has been long valued for its corrosion and wear-resistant properties and has been used in special alloys like those used in aircraft engines. It is an essential element used in electroplating and for imparting blue and green colors to glass and ceramic products. Radioactive Cobalt-60 is used in cancer treatment. A major increase in demand is expected for cobalt as the worldwide electric vehicle battery and energy storage businesses expand. Cobalt has recently been valued at over $27 USD per pound as reported on www.infomine.com.
About CXS (www.cxsltd.com)
For over 15 years, companies both large and small have relied on CXS to execute programs across Canada. CXS is a diversified company that can bring projects forward under one team.
Having a professional and seasoned management team allows them to design and execute exploration programs ranging from basic exploration and geophysics to advanced permitting. From claim staking to 43-101, count on CXS.
About Atacama Resources International (www.acrlintl.com)
Atacama Resources International is a publicly traded OTCQB company with significant mining claims in the greater Kirkland Lake area of Northern Ontario. Metals and minerals under potential exploration include gold, silver, diamonds, graphite and cobalt. Major deposits of copper and iron ore are included in the mining claims. Atacama's technology business includes a pioneering smartphone application called Good2Drive and follow on products that will be released later in 2017 and 2018.
Safe Harbor Statement
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Atacama Resources International. Such forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.
SOURCE: Atacama Resources International, Inc.