Posted by: cobaltmemories | September 15, 2009

Mining Activity Returns to the Blackbird Canyon.

Russ Steele

Formation Capital Corporation has been granted  access across the historic Blackbird Mine Site for the purpose of mining cobalt from its 100% owned Idaho Cobalt Project, in accordance with State of Idaho Statute 47-902, Rights of Way and Easements for Development of Mines, according to a recent press release.

A  Seventh District Court of the State of Idaho Judge stated they had unanimously determined a dollar value for the easement payable to the land owners in the amount of US $52,500. The Blackbird Mine Site is indirectly owned by Swiss based Xstrata PLC through its subsidiaries Noranda Mining Inc. and the Blackbird Mining Company.

“Although not unexpected, to have this behind us is very welcome news”, stated Bill Scales, President of Formation Capital Corporation, U.S. He continued, “This will allow us to move quickly to begin road upgrades necessary to move mine equipment to the mine site after we have posted the reclamation bond and sorted out the last few details”. The Company has already stored mine equipment in staging areas near the mine site that include the ball mill, flotation cells, vibratory feeders, grizzly and hoppers, crusher and concentrator buildings, power transformer and parts for the aerial tram that will deliver ore to the mill.

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