Canada Silver Cobalt Will Participate in a Proactive One2One Investor Forum on August 20, 2020
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that it will participate in a Proactive One2One Investor Forum on August 20, at 1 pm EDT (6 pmLondon time).
Canada Silver Cobalt’s presentation, which will focus mainly on its drilling and development plans for its exceptional high-grade silver discovery at Castle East, will be given by Matt Halliday, President and COO, and Frank Basa, CEO. The 30-minute presentation includes a question and answer session.
Investors are invited to join the online interactive webinar conference to find out more about the Company’s plans for the exploration and development of Castle East.
Registration to the webinar can be found at: https://event.webinarjam.com/register/632/ryy72sv8w
After registering, you will receive a confirmation email containing information about joining the webinar.
The corporate presentation for the webinar can be found at: https://canadasilvercobaltworks.com/wp-content/uploads/2016/11/Canada-Silver-Cobalt-Presentation-August-12-2020.pdf
For those unable to participate, Proactive Investors will post a video recording of the webinar on its website and YouTube after the event.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt’s flagship Castle mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing Gowganda high-grade Silver-Cobalt District of Northern Ontario. With an important new discovery at Castle East, underground access at the Castle mine, a processing facility (TTL Laboratories) in the nearby town of Cobalt, a proprietary hydrometallurgical process known as Re-2OX, and the Beaver and Violet properties, CCW is strategically positioned to become a Canadian leader in the silver-cobalt space.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Silver Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/August2020/19/c5235.html
Contact:
Frank J. Basa, P.Eng., CEO, 1-416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
Canada Silver Cobalt Closes 1st Tranche Private Placement with a Lead Order from Palisades Goldcorp Ltd.
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that the Company has closed the first tranche of its non-brokered private placement financing, raising gross proceeds of $3,193,730 with a lead order from Palisades Goldcorp Ltd.
The Company has issued 5,806,782 units (“Units”) in the first tranche closing. Each Unit is comprised of one common share of the Company and one share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.65 per share, for a period of three years from closing, subject to TSX Venture Exchange (“Exchange”) final approval.
The proceeds of the private placement will be used for ongoing drilling of the Castle East Robinson Zone discovery, near the town of Gowganda, Ontario and for general working capital.
Finder’ fees in the amount of $90,247.50 and the issuance of 164,086 finder warrants were paid in connection with the private placement. The finder’s warrants are on the same terms as the financing warrants. The finder fees are subject to Exchange approval.
All securities issued in connection with the private placement are subject to a four–month and a day hold period in accordance with applicable Canadian Securities Laws.
About Palisades GoldCorp.
Palisades Goldcorp is Canada’s new resource focused merchant bank. Palisades’ management team has a demonstrated track record of making money and is backed by many of the industry’s most notable financiers. With junior resource equities valued at generational lows, management believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with significant stakes in undervalued companies and assets with the goal of generating superior returns.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt’s flagship Castle mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing Gowganda high-grade Silver-Cobalt District of Northern Ontario. With an important new discovery at Castle East, underground access at the Castle mine, a processing facility (TTL Laboratories) in the nearby town of Cobalt, a proprietary hydrometallurgical process known as Re-2OX, and the Beaver and Violet properties, CCW is strategically positioned to become a Canadian leader in the silver-cobalt space.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
- Published in Canada Cobalt Works, Mining, News Home
Granada 55.56 g/t over 3 meters from 1220 kg surface grab sample. Adds second drill
Granada Gold Mine (TSX.V: GGM) (“Granada Gold” or the “Company”) is pleased to provide an update of its 2020 High-Grade exploration and bulk sampling program.
Highlights:
- Grab sample returns 55.6 grams per tonne native gold from 1220 kilograms of mineralized material taken from surface over a 3-meter strike length on Vein No 1 structure where diamond drill hole GR-19-A intersected 11.45 g/t gold from 0 to 33 metres core length (refer to January 9, 2020, news release).
- Sample was processed at Temiskaming Testing Labs in Cobalt, Ontario. Conventional gravity concentration was used and therefore only native gold was recovered and quantified. The gold-bearing sulfides were not recovered.
- Native gold component has been defined for the Granada Gold Mine to represent an average of 50% percent of the recoverable gold from the mineralized deposit (43-101 Technical Report dated February 13, 2019 on the Granada Gold Project Mineral Resource Estimate, Rouyn Noranda, Quebec authored by the Qualified persons, Allan Armitage, Ph. D.., P. Geo and Maxime Dupere, B.SC., Geo both of SGS Canada Inc. – Section 13.1).
- Second drill rig focussing on the high-grade Vein No 1 structure. Stripping to the West to continue along strike. The mineralized structure has been traced on surface for over 115 meters on east-west trend by stripping. The structure extends over 500 meters when we connect the pierce points with the drill holes.
Frank J. Basa, P.Eng., Granada Gold’s President and CEO, comments: “Historically, the mill grades at Granada Mine were higher than drill grades. This is common with high-grade native gold concentration deposits on the Cadillac Trend – as it is with this deposit. The 1220-kg sample returned 4 times the drill grade of the core – using only the native gold component.”
Frank J. Basa, P.Eng., further comments: “A bulk sample is to be taken at this location to further quantify the grade of the mineralized material. The company is awaiting quotes from local contractors to take this bulk sample. The bulk sample is to be processed at Temiskaming Testing Labs, Cobalt, Ontario.”
Historical Recap:
- Historic underground production between 1930 and 1935, from 2 shafts had an average grade of 9.7 grams/tonne gold and 1.5 grams/tonne silver from 164,816 tonnes of mineralized material (51,476 ounces gold in 181,744 tons at 0.28 oz/ton) primarily from Vein No.2 underground *
- A 1994 surface bulk sample extracted 87,311 tonnes grading 5.17 g/t gold from Pit No.1 (on Vein No. 1) *
- A later, 1996 surface bulk sample extracted 22,095 tonnes grading 3.46 g/t gold from Vein No. 2.
- The Aukeko Shaft, 2300 metres east of the current bulk sample, and within the Auk Shear, saw an average of 7.00 ounces gold per Ton (240.0 grams per tonne) from 3 bulk samples taken just east of the Aukeko shaft in 1938 (from public files with MERN (Ministère d’Energie et Ressources Naturelles) GM52851). The Auk Shear zone was mapped over a one-kilometre length with an average width of 50 metres. The Aukeko gold mine is part of the east-west trending structure on the Granada Gold Mine property. It is two kilometres east from the extended LONG Bars zone where over 120,000 metres of drilling has been undertaken to date, including historical drilling from the 1990s. A further 1.9 kilometres east is the Austin-Rouyn Mine where grab samples in 1940 showed up to 6.57 ounces of gold per Ton (225.2 grams per tonne). Grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property.
*The above disclosure of the bulk sample size and grade is extracted from the 43-101 Technical Report dated February 13, 2019 on the Granada Gold Project Mineral Resource Estimate, Rouyn Noranda, Quebec authored by the Qualified persons, Allan Armitage, Ph. D.., P. Geo and Maxime Dupere, B.SC., Geo both of SGS Canada Inc. The Company has no reason to doubt its reliability.
Drill programs in 2019 focussed on testing the gold grade continuity and variability within mineralized structures.
GR-19-C intersected a high-grade zone with 7.67 g/t gold over 15 meters of core length from near surface at downhole depth of 18.5 to 33.5 metres on the extended LONG Bars zone (refer to Nov 6, 2019, news release). Assays are uncut except where indicated. True width is not known at present time.
Coarse, native gold was observed in the drill core of hole GR-19-E which intersected a high-grade zone with 12.32 g/t Au over 2 metres core length at a depth of 35.5 metres on the extended LONG Bars zone (refer to Oct 15, 2019, news release). The core length reported is estimated to have intersected 85-90% of true thickness of the zone. Assays are uncut except where indicated
It is important to note that the current NI 43-101 resource calculation by SGS does not include the above mineralized zone as it was recently uncovered by stripping for a water sump.
The current resource at the Company’s Granada Gold project in Rouyn-Noranda, Quebec is detailed in the report filed on Sedar, a technical report compliant with National Instrument 43-101 titled, “Granada Gold Project Mineral Resource Estimate Rouyn-Noranda, Quebec, Canada.” The report, written by Independent Qualified Persons Allan Armitage, PhD, P.Geo, and Maxime Dupere, BSc, P.Geo, of SGS Canada Inc., provides support for the following resource estimate:
Current Resources: 2019 Pit-Constrained Resource Estimate1 | |||
Category | Tonnes | Grade (g/t Au) | Contained Gold (oz.) |
Measured | 12,637,000 | 1.02 | 413,000 |
Indicated | 9,630,000 | 1.13 | 349,000 |
M&I Total | 22,267,000 | 1.06 | 762,000 |
Inferred | 6,930,000 | 2.04 | 455,000 |
1 Cutoff 0.4 g/t Au; see Press Release of February 13, 2019 for detailed notes. |
Qualified Persons
For the purposes of this announcement, Claude Duplessis, P. Eng., of Goldminds Geoservices Inc., a geological, environmental and mining consultant and qualified person in accordance with National Instrument 43-101, has visited the Temiskaming Testing Labs, Cobalt, Ontario and has reviewed and approved the contents of this news release.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. is continuing to develop the Granada Gold Property near Rouyn-Noranda, Quebec. The property includes the former Granada gold mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s before a fire destroyed the surface buildings. Approximately 120,000 meters of drilling has been completed to date on the property, focused mainly on the extended LONG Bars zone which trends 2 kilometers east west over a potential 5.5 kilometers mineralized structure. The highly prolific Cadillac Trend, the source of 50 million plus ounces of gold production in the past century, cuts right through the north part of the Granada property on a line running from Val-d’Or to Rouyn-Noranda Quebec.
The Company is in possession of all permits required to commence the initial mining phase known as the “Rolling Start”, which allows the company to mine up to 550 tonnes per day, capable of producing up to 675,000 tonnes of ore over a 3-year period of time. Additional information is available at www.granadagoldmine.com.
“Frank J. Basa”
- Published in Granada Gold Mine, Mining, News Home
San Marco Expands Land Position at Flagship Buck Property, B.C.
San Marco Resources Inc. (TSXV: SMN) is pleased to announce that it has expanded its tenure holdings at its 100% optioned gold-silver-zinc Buck property in north-central B.C.
Highlights of the tenure acquisition include:
- The addition of five new mineral claims totalling 7,245 hectares.
- The Company’s land position in the area has increased by 33%, for a total of 22,204 hectares.
- The new ground includes mapped mineralization by previous explorers, and thus will be followed up by the Company’s geologists.
- The new claims will become subject to the Company’s property option agreement with Richard Billingsley and his wife, Gaye Richards, which in 2019 granted the Company the option to acquire the Buck property.
The strategic mineral tenure staking at the Buck property can be seen in Figure 1.
San Marco’s CEO, Bob Willis, commented “We are pleased to acquire additional ground at Buck. This expanded land position, contiguous to our current land holdings, will allow us to explore additional targets in the area. The mineralized surface footprint at Buck continues to expand, as such our new ground allows for continued definition of exploration targets within land we control”.
San Marco wishes to correct a statement in the Company’s news release dated August 6, 2020. In the first paragraph, it should read “The property is 170 km northwest of Artemis Gold Inc.’s Blackwater Gold Project (9.5 million ounces of Au, Measured and Indicated Mineral Resource; see Artemis Gold Inc.’s June 9th, 2020, news release – such resources are not indicative of resources on the Buck property).” The Company inadvertently wrote “such resources are not indicative of the mineralization on the Buck property”. San Marco is seeing many Buck/Blackwater geological similarities.
The Company recently provided an exploration update at its Buck property (see news release dated August 6, 2020). Phase 2 drilling is expected to begin by late August.
About San Marco
San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc, and copper projects with a focus in mining friendly jurisdictions in both British Columbia and Mexico.
The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region and includes many former and current operating mines. The Company’s portfolio also includes several prospective, early stage exploration properties in Mexico.
San Marco is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.
Further details are available at www.sanmarcocorp.com
Link to Figure:
- Published in Mining, News Home, San Marco Resources
Canada Silver Cobalt Appoints Matt Halliday to the Board and Engages Investor Relations Advisor
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that Matt Halliday, P.Geo., the Company’s President & COO has also been appointed to the board of directors. In connection with Matt’s appointment to the board, Marc Bamber has resigned as a director of the Company to focus on his other work commitments. We thank Marc for his contributions to the Company and wish him well in his future endeavours.
The Company has also engaged GRA Enterprises LLC (the “Consultant”) to provide investor relations services pursuant to a consulting agreement dated July 24, 2020. Services will include the production and publication of investor bulletins, distribution of investor bulletins to the Consultant’s e-mail list, and posts via the Consultant’s blogs and social media accounts. In consideration of these services, the Company has paid the Consultant a fee of US$30,000 for a 6-month contract. The Consultant is an arm’s length party to the Company and does not currently own any securities of the Company as at the date hereof but may purchase securities in the Company from time to time for investment purposes. The consulting agreement with the Consultant is subject to acceptance by the TSX Venture Exchange.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt’s flagship Castle mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing Gowganda high-grade Silver-Cobalt District of Northern Ontario. With an important new discovery at Castle East, underground access at the Castle mine, a processing facility (TTL Laboratories) in the nearby town of Cobalt, a proprietary hydrometallurgical process known as Re-2OX, and the Beaver and Violet properties, CCW is strategically positioned to become a Canadian leader in the silver-cobalt space.
- Published in Canada Cobalt Works, Mining, News Home
San Marco Updates Exploration on Its Buck Gold – Silver Property, Central British Columbia
San Marco Resources Inc. (TSXV: SMN) provides an update from its multidisciplinary exploration program currently underway at its 100% controlled Buck epithermal gold (Au) – silver (Ag) property in central British Columbia, Canada. The 15,000 hectare road accessible property is located 12 kilometres (“km”) south of Houston, B.C. and has excellent nearby infrastructure and allows for year-round exploration. The property is 170 km northwest of Artemis Gold Inc.’s Blackwater Gold Project (9.5 million ounces of Au, Measured and Indicated Mineral Resource; see Artemis Gold Inc.’s June 9th, 2020, news release – such resources are not indicative of the mineralization on the Buck Property).
Highlights
- Second Phase diamond drilling is expected to commence by the end of August. This drill phase will test epithermal-related, bulk-tonnage Au-Ag targets as well as structurally controlled, high-grade Au-Ag targets. Initial drilling will be focused within the currently known one km by two km surface mineralization footprint.
- A ground magnetic survey will be completed in August covering historical and newly discovered mineralization.
- A 20 line-km induced polarization (IP) survey over the Buck breccia complex and its interpreted northern extent below cover will commence early September.
- 679 soil samples were collected on a grid located one km north of historical drilling. Initial field results from this newly discovered area indicate this area is very prospective for Au-Ag mineralization. Assay results will be released when plotted and analysed.
- 104 rock-chip samples were taken from historical trenching as well as from areas of newly identified mineralization throughout the property. Results will be released when plotted and analysed.
Drilling
The second phase of 2020 diamond drilling will begin near the end of August, 2020. Numerous drill targets are already defined and additional targets will be refined based on ongoing geological and geochemical surveys and the upcoming geophysical surveys. San Marco is planning an aggressive drill program which will include an initial 3,000 to 5,000 metres of drilling followed by an additional proposed 5,000 metres of drilling based on results of initial drilling. Drill site preparation is commencing shortly.
This upcoming drill program will build on the previously announced Phase 1 diamond drill program of 1,806 metres which intersected wide zones of continuous gold mineralization such as 91 metres of 0.75 grams per tonne (g/t) Au within 156 metres of 0.59 g/t Au (BK20-002, SMN news release dated May 12, 2020).
Geophysical Surveys
San Marco will conduct a 20 line-km IP survey over the Buck breccia complex. Historic 1980’s-vintage IP data was collected on east-west oriented lines. Based on the new understanding of key property-scale WNW mineralization trends, a modern north-south oriented survey with a significantly increased depth of investigation is warranted. This survey will also cover the recently completed soil geochemical grid where historic IP data is lacking. Prior to the IP survey, a ground magnetic survey will be conducted to help refine the property’s lithological and structural architecture as well as identify areas of magnetite-destructive alteration.
Geology and Sampling
- Exploration completed to date include geological and structural mapping together with rock-chip sampling in the northwest trending Buck Structural Corridor and also in newly identified zones of mineralization along trend.
- A total of 679 soil samples were collected on a grid centered one km north of the Horseshoe zone. This newly discovered area is prospective for Buck-style Au-Ag mineralization.
- A total of 104 rock samples were systematically collected from throughout the property. Assay results of these samples will be released after received and analysed.
Field crews completed approximately 26 line-km of soil sampling with a total of 679 B-horizon soil samples collected over the inferred north-northeast extension of the Buck breccia complex. A total of 104 rock samples were also collected from areas of historic trenching and also areas of newly identified zones of alteration and mineralization. In addition, 11 silt samples were collected from key drainages on the property.
Detailed geological and structural mapping of historic trenches and gossanous outcrop along Buck Creek revealed new insights into key structural controls to higher-grade Au-Ag mineralization (see SMN news release dated June 23rd, 2020). A property-scale WNW-trending, ~500 metre wide by at least two km long structural zone, termed the Buck Structural Corridor, has been defined (Figure 1). The Corridor is interpreted to be a first-order control on mineralization with smaller NE-SW grade-controlling structures also observed. The Corridor includes the Horseshoe, Adit and Trench zones. Based on new structural observations, the structural model is being refined and will better inform drill hole planning.
Gold and silver mineralization is predominantly associated with disseminated and lesser stringer-hosted pyrite and sphalerite and is related to widespread and pervasive clay and/or quartz + sericite alteration and secondary carbonate (e.g., 156 metres of 0.59 g/t Au; BK20-002, SMN news release dated May 12th, 2020). Similar styles of alteration have been intersected in most historic drill holes covering a footprint of approximately one by two km. The hydrothermal system is centred on the Buck breccia complex comprised of intrusive breccias, magmatic-hydrothermal breccias, hydrothermal breccias, pebble-dikes and a thick, intermediate- to felsic volcaniclastic pile. The breccia complex is associated with quartz-feldspar porphyritic granodiorite dykes that locally cross-cut volcaniclastic rocks but are also represented as gravel to boulder sized clasts in N-S trending pebble-dikes. The youngest volcaniclastic rocks contain clasts of plagioclase phyric andesite, quartz porphyritic dacite, lesser flow-banded rhyolite and an abundance of altered and mineralised intrusive clasts with local quartz-sulfide stockwork.
Taken together, two primary targets are defined, and include: 1) structurally controlled high-grade epithermal-related Au-Ag, and 2) bulk-tonnage epithermal-related Au-Ag. Drill holes are being planned to systematically test the lateral and vertical extent of both target types.
Health and Safety
The 2020 exploration programs are being carried out in full compliance with federal, provincial, and municipal guidelines established in response to the global COVID-19 pandemic. San Marco has a rigorous infection prevention and control protocol in place to protect the health of employees, contractors, as well as surrounding communities in which we work.
Link to Figure
Figure 1: http://sanmarcocorp.com/wp-content/uploads/2020/08/Buck_Overview_Aug6_NR-.pdf
About San Marco
San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc, and copper projects with a focus in mining friendly jurisdictions in both British Columbia and Mexico.
The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region and includes many former and current operating mines. The Company’s portfolio also includes several prospective, early stage exploration properties in Mexico.
San Marco is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.
Further details are available at www.sanmarcocorp.com
For further information, contact:
Sharyn Alexander, M.Sc.
VP Technical Services
Nancy Curry
Corporate Communications
Tel. 778-588-9606
National Instrument 43-101 Disclosure
This news release has been approved by San Marco’s CEO, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has also verified the data disclosed, including sampling, analytical and test data, underlying the technical information in this news release.
- Published in Mining, News Home, San Marco Resources