President and CEO Trent Mell described the results as "very encouraging" and said they demonstrated the potential for long cobalt and silver drill intercepts outside the historically mined vein systems.
The best intercept was 13.7m at 106.2g/t silver, including 3m at 445g/t.
The company said within the interval, background cobalt values of up to 0.03% cobalt were present but base metals were generally low.
It had announced cobalt intercepts 200m to the south in December and said results suggested a possible metal zoning pattern of cobalt-rich and silver-rich mineralisation might be present which would guide future drilling.
The company has planned C$7 million (US$5.6 million) of exploration including 26,500m of drilling for 2018 and last month announced it would sponsor a university research programme to identify structural controls for cobalt-silver mineralisation.
Shares in the company, which hit C$1.50 in early January, fell 5.45% to $1.04.
