High-Grade Visible Gold at 25 Grams Per Tonne Intersected at the Robinson Zone
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that Canada Silver Cobalt Works intersected high-grade gold mineralisation with cobalt within the high-grade silver-cobalt mineralized vein structures at the Castle property. Drilling continues around the clock, seven days a week with 2 drills. A 50,000-meter drill program is in place of which 18,000 meters have been completed.
Gold Highlights:
- CS-20-31 intersected 24.95 g/t Au over 0.30 meters from 49.70 – 50.00m with visible gold in calcite veining within Archean volcanic tuff.
- CS-20-31, drilled towards the North, intersected 3.82 g/t Au over 2.86 meters from 451.00 – 453.86m, including 6.11 g/t Au over 1.66 meters from 451.52 – 453.18m.
- CS-20-25, collared 300 meters northwest of CS-20-31, intersected three separate vein structures at shallower levels. This hole intersected 5.00 g/t Au over 1 meter, from 315.00 – 316.00m; 0.78 g/t Au over 0.8 meters, from 145.50 – 146.30m; and 0.6 g/t Au over 1 meter, from 240.00 – 241.00m.
Hole Name | From (m) | To (m) | Length (m) | Au (g/t) | Ag (g/t) | Co (ppm) | Cu (ppm) | Ni (ppm) |
CS-20-31 | 49.70 | 50.00 | 0.30 | 24.95 | na | na | na | na |
CS-20-31 | 451.00 | 453.86 | 2.86 | 3.82 | 4 | 1 339 | 226 | 164 |
Including | 451.52 | 453.18 | 1.66 | 6.11 | 5 | 2 015 | 64 | 230 |
CS-20-25 | 315.00 | 316.00 | 1.00 | 5.00 | 2 | 18 | 121 | 59 |
CS-20-22W2 | 634.00 | 637.00 | 3.00 | 0.72 | 0 | 57 | 98 | 87 |
Including | 636.00 | 637.00 | 1.00 | 1.27 | 0 | 33 | 91 | 85 |
CS-20-22W2 | 407.60 | 408.20 | 0.60 | 0.03 | 318 | 31 | 247 | 62 |
CS-20-25 | 145.50 | 146.30 | 0.80 | 0.78 | 1 | 23 | 33 | 31 |
CS-20-25 | 240.00 | 241.00 | 1.00 | 0.61 | 1 | 27 | 297 | 78 |
CS-20-26 | 565.62 | 566.00 | 0.38 | 0.07 | 1 546 | 90 | 173 | 74 |
CS-20-28 | 459.60 | 460.00 | 0.40 | 0.00 | 3 453 | 209 | 257 | 60 |
CS-20-28W1 | 466.00 | 466.30 | 0.30 | 0.02 | 638 | 111 | 131 | 53 |
The gold-cobalt mineralisation found in hole CS-20-31 is the fourth potential expansion to the Robinson system, giving at least 5 mineralized veins in the area. The vein in hole CS-20-31 appears to be a different orientation to the other en echelon veins identified and is the first vein in the Robinson system with significant gold results. A percentage of holes in this program has been allocated to identifying and following up on structures in this orientation. With this new discovery, the information previously gathered to the west is being revisited and reinterpreted to identify a potential connection between the Archean gold system previously identified and these veins found in the diabase.
Matt Halliday, P.Geo., Canada Silver Cobalt’s President, commented: “Hole CS-20-25 is confirming the working hypothesis regarding the potential correlation between the gold mineralization in the Robinson Zone and that previously identified in the gold zone immediately west of the Robinson where substantial Archean alteration typically associated with gold mineralisation has been recorded. Significantly, in hole CS-20-31, a gold structure within the Robinson Zone, that is associated with the silver-cobalt veins of the diabase, has been identified. Given the reports from this historic Camp of silver bars containing recoverable amounts of gold, this newly identified gold mineralization is extremely exciting. Additionally, CS-20-31 has visible gold near surface. This, and identifying further gold mineralization near surface, will dramatically impact the economics of the Robinson Zone vein system.”
Gold Target Above the Diabase
Starting 40 meters downhole and continuing to 368 meters, CS-20-24 intersected multiple, potential gold-bearing quartz-carbonate, multi-generational veins with sulphide mineralisation and intense alteration in the Archean package above the Nipissing diabase. Arsenopyrite was also noted in feldspar porphyry.
As reported by Canada Silver Cobalt on March 2, 2020, the last drill hole that targeted gold mineralisation at Castle East (CS-19-19) intersected 4.3 grams per tonne gold over four metres and 1.5 g/t Au over 12.5 metres within a 30-metre mineralised zone (core length, true width unknown at this time) grading 0.70 g/t (vertical depth approximately 240 metres). This broad interval included one metre that returned 15.2 g/t Au. This early-stage gold discovery is approximately 460 meters southwest of the visually encouraging zones encountered in CS-20-24, and the potential relationship between the two areas is being investigated as geologists await assays for this latest hole.
Now, with gold found in CS-20-31 near surface and within the diabase, the potential corridor of Archean gold has been increased by over 200m at surface. If the gold in the cobalt-silver veins comes from reactivated Archean structures, this could also indicate gold at depth below the diabase.
Location
The Castle Property is 15 km east of Pan American Silver’s Juby gold deposit, 30 km due south of Alamos Gold’s Young-Davidson mine, 75 km southwest of Kirkland Lake Gold’s Macassa Complex, and 100 km southeast of new gold discoveries in the Timmins West area.
Quality Assurance/Quality Control
Castle East core samples were collected using a 0.3-meter minimum length and a 1-meter maximum length. Drill core recovery averaged 95%. Two quality control samples (blank and standards) were inserted into each batch of 20 samples. The drill core was sawn with one half of the split core placed in a plastic bag with the sample tag and sealed, while the second half was returned to the core box for storage on site. Where silver or gold was visually and significantly present, a pulp-metallic analysis on full sample was requested for the silver and gold assays where the entire sample is dried, weighed and crushed over 95% then fully pulverized and passed through 200-mesh screen to create a plus 200-mesh fraction (metallics) and a minus 200-mesh fraction (pulp). The minus 200-mesh fraction (fines) was run using geochemical analysis with AA finish for Ag, Au, Cu, Ni, and Co. The entire +200 mesh (coarse) fraction was analyzed using gravimetric processes (fire assay) for both Ag and Au to provide a weighted average assay for the entire sample. Swastika Laboratories is an ISO 17025 certified lab independent of Canada Cobalt.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Matthew Halliday, P.Geo., (APGO) President of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp. In May 2020. A total of 7.56 million ounces of silver in Inferred resources comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the east-trending Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020. Report reference: Rachidi. M 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020 and a signature date of July 13, 2020.
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 District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt 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/December2020/17/c4688.html
Contact:
Frank J. Basa, P.Eng., Chief Executive Officer, 416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
Canada Silver Closes $4.9M Flow-Through Private Placement
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) announces that the Company has closed a non-brokered private placement by way of issuing 4,288,778 flow-through units (“FT Units”) at a price of $0.63 per FT Unit raising gross proceeds of $2,701,930. The Company will also be issuing 3,308,824 Quebec FT Units at a price of $0.68 per QFT Unit raising gross proceeds $2,250,000. The Company is raising in total $4,951,930.
Each FT and QFT Unit is comprised of one flow-through common share of the Company and one half of 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 $0.80 per share, for a period of two years from closing, subject to TSX Venture Exchange (“Exchange”) approval.
The Company has paid Finder fees in the amount of $129,304 and issued 198,533 finder warrants in connection with the FT and QFT 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 will be subject to a four–month and a day hold period expiring on March 26, 2020 in accordance with applicable Canadian Securities Laws.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp. In May 2020. A total of 7.56 million ounces of silver in Inferred resources comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the east-trending Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020).
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 District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt 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/November2020/26/c4604.html
- Published in Canada Cobalt Works, Mining, News Home
Canada Silver Cobalt Enters into Option to Acquire a High-Grade Nickel Copper Discovery
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that it has entered into an option agreement with MagNor Resources (MagNor) dated October 26 , 2020 (the “Agreement”) whereby Canada Silver Cobalt may earn an undivided 100% Interest, subject to a 2% NSR, in the MagNor’s B2 property in Quebec, Canada. The property has 12 claims totaling 670 hectares (6.7km2). The Agreement is subject to TSX Venture Exchange (“Exchange”) acceptance.
Highlights of Property
The NNW-SSE mineralized zone is traceable along strike over 1 kilometer and is open in all directions.
A stripped zone exposed a length of 35m of massive sulphides 8-10m wide.
- A total of 6 grab samples were sent to ALS Laboratory in Val-d’Or for analysis of a package of multi-elements. Assay results returned massive Ni-Cu-Co mineralization (see Figure):
- 1.05 % Ni, 0.13 % Cu, 0.10 % Co
- 0.96 % Ni, 0.10 % Cu, 0.09 % Co
- 0.69 % Ni, 0.62 % Cu, 0.19 % Co
- for the epithermal veinlets associated with quartz injections:
- 9.28 % Cu, 18.2 g/t Ag, 0.34 g/t Au
- 2.97 % Cu, 5.7 g/t Ag, 0.29 g/t Au, 0.10 % Ni
- Anomalous values in Ti (1.1 %), P (0.45 %) and Mn (0.12 %) in mylonitic ferro-gabbro with 0.14% Cu associated with mineralization in pyrrhotite, pyrite and chalcopyrite stringers (5-10 %)
The B2 Ni Cu property contains new showings for Ni-Cu-Co that were discovered in August 2019 by Alain Berclaz & Frederic Bergeron. It is located in NTS 22E11 of the Saguenay Lac-St-Jean region of Quebec. The property is easily accessed by well-maintained logging roads and forest trails from the KM92 of the Passes Road (R250 & R251).
“With the increasing demand of lithium ion batteries for electric vehicles (EV), optioning this property fits well within the company’s battery metal development program” said Frank J. Basa, P.Eng CEO. “With high-grade near-surface mineralization, the company has mobilized a geological team to the site to plan an exploration program.”
Mineralization on the property is of three types
- Magmatic Ni-Cu-Co associated with anorthosite consisting of massive sulphides up to 5m wide, composed of 65-90% coarse-grained pyrrhotite (-pentlandite), pyrite, chalcopyrite and 10-30% host rock fragments.
- Magmatic Fe(-Ti-P-V) associated with anorthosite, leuco-gabbro, gabbronorite, norite and pyroxenite consisting of up to 5m-thick layers, lenses and veins of massive oxides (mainly magnetite).
- Epithermal Cu-Ag-Au associated with late pegmatitic quartz veins and monzogranite consisting of up to 1m-thick, semi-massive, brecciated stockwork, veinlets, and stringers of pyrite, chalcopyrite and bornite.
Terms of the Agreement
Pursuant to the terms of the Agreement, the Company may exercise the option with MagNor as follows:
- On Closing, making a payment of $62,500(1);
- 24 months from Closing, making a payment of $62,500(1);
- 36 months from Closing, making a payment of $62,500(1); and
- 36 months from Closing, incurring an aggregate of $100,000 in Exploration Expenditures on the Ni Cu property;
(1) | Payment can be made in cash or through the issuance of Canada Silver Cobalt shares at a price per common share equal to the volume weighted average trading price of the Company’s shares on the Exchange for the ten (10) trading days immediately preceding the Closing Date, at the option of the Company. |
All securities issued in connection with this transaction will be subject to a four month and a day hold period in accordance with applicable securities laws.
Qualified Person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc. member of Québec Order of Engineers and a qualified person in accordance with National Instrument 43-101 standards.
About Canada Silver Cobalt Works Inc. www.canadasilvercobaltworks.com
Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp in May 2020. A total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters was calculated. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the east-trending Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020). Canada Silver Cobalt’s flagship Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past-producing Gowganda high-grade Silver District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical-grade cobalt-sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt 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.
- Published in Canada Cobalt Works, Mining
Canada Silver Cobalt Provides Update on the Advancement of the Robinson Zone Ramp Project
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce significant ramp project advancement in environmental studies, site development, community engagement, First Nations consultations, and exploration which will further de-risk the Robinson Zone Project which is 100-percent owned by the Company, in the 78-square-kilometre Castle Silver Mine property, in Gowganda, Ontario, Canada.
Highlights and updates:
- Engaged an environmental consultant to begin a gap analysis at the Robinson Zone. The gap analysis will develop a baseline study for ramp development. The company plans to setup drill stations underground to further the exploration program. A bulk sample will be taken for metallurgical testing.
- Engaged a mining consultant to develop a scope of work for the upcoming engineering studies to design the ramp. The necessary information has been forwarded to the mining consultant.
- Retained SGS Lakefield to further develop the company’s Re-2OX process. The metallurgical program will consist of producing battery-grade cobalt and nickel sulfates with the recovery of silver into dore bars.
- Advanced the 2020-21 Robinson Zone 50,000-meter drill program in the fourth quarter with 20 percent completed to date and with appropriate COVID-19 protocols in place. Four new, mineralized vein structure have been identified. The exploration target is enlarged up to 135 metres East-West, up to 100 metres North-South and up to 256 metres vertically.
Matt Halliday, P.Geo., President, commented: “This is a pivotal moment for CCW. With the continued success of the drill program, building a ramp to further de-risk the project is the next stage in developing a robust resource. The company is adding to our technical team to execute the exploration and development plans.”
Location
The Castle Property is 15 km east of Pan American Silver’s Juby gold deposit, 30 km due south of Alamos Gold’s Young-Davidson mine, 75 km southwest of Kirkland Lake Gold’s Macassa Complex, and 100 km southeast of new gold discoveries in the Timmins West area.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Matthew Halliday, P.Geo., (APGO) VP Exploration of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc. www.canadasilvercobaltworks.com
Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp. In May 2020. A total of 7.56 million ounces of silver in Inferred resources comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the east-trending Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020).
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 District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt 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/October2020/16/c7400.html
- Published in Canada Cobalt Works, Mining, News Home
Canada Silver Cobalt Expands Robinson Zone by 500 Percent, Intersects New High-Grade Vein
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce a major reinterpretation of the past-producing Gowganda Silver Camp, 75 kilometers southwest of Kirkland Lake, and vast expansion to the mineralized Robinson Zone at Castle East with just the first 9,000 metres in Phase 1 of the 50,000-metre drill program in this exciting high-grade grassroots silver discovery.
Highlights:
- 3,452 g/t silver over 0.4 metres downhole in hole CS-20-28 intersected 75 metres above Robinson Zone original intersection in an all-new vein
- Targeted exploration area significantly enlarged up to 135 metres East-West, up to 100 metres North-South and up to 256 metres vertically – resulting in a 500% increase in known mineralized area
- At least 4 new mineralized veins identified in the first 9,000 metres of 50,000 metre drill program
Strategic drilling has opened up at least 3 new veins – including 3,452 g/t silver over 0.4 metres (true width unknown) downhole – an all-new vein intersected in hole CS-20-28, 75 metres above Robinson Zone original intersection – at a depth of 347 metres. Additionally, the Company is very encouraged with the intersection of multiple, large carbonate veins at depth, conveying a strong plumbing network to the Robinson Zone and Castle East. These additional veins contain sufficient silver mineralization to justify further targeting them in search of potential high-grade mineralized panels. Mineralization is being added to the east-west lateral extent of the Zone along with new veins to the north and the south. The deposit model is continually updated to extract new and valuable structural and geochemical information.
Due to the early and significant successful progress to date – Canada Silver Cobalt Works has completed 18% of the initial, proposed 50,000-metre drill program – the Company is already considering expanding the program to follow up on the newly identified mineralized veins as well as to further expand the potential exploration horizon. There are currently 2 drill rigs on site drilling round the clock. The Company is redefining historic assumptions about silver exploration in the Gowganda Camp.
The uppermost mineralized vein intercept in hole CS-20-31 (assays pending) occurs less than 10 metres below the upper contact, at a vertical depth of 336 metres and the original high-grade vein intersection in hole CA-1108 grading 40,944 g/t silver (1,194 oz/ton) over a core length of 0.45 metres with a true width of approximately 7cm (refer to August 25, 2011, Gold Bullion Development news release) at a vertical depth of approximately 430 metres. Another deep mineralized vein was intersected in CS-20-22W3 (assays pending), the deepest one to date, at 592 metres vertical depth.With these recent new mineralized vein discoveries, the vertical extent of significant silver mineralization has now reached 256 metres.
Notably, vein intersections at Castle East exist in both the upper and lower parts of the Nipissing diabase sill, near the contact with the Archean volcanics, greatly enhancing the deposit potential of the area with implications for the broader Camp where historic production was predominantly within the upper half of the diabase sill. CCW now has a greater opportunity to expand the Robinson Zone since the potential mineralized horizon is much larger than originally believed.
Matt Halliday, P.Geo., VP-Exploration, commented: “We are excited about the drill program; we initiated a large-scale drill program and we are realizing the results. We have moved from a single vein at the Robinson to at least 4 mineralized veins, greatly expanding the potential for new high-grade panels. We have expanded the traditional mineralized horizon. It has been noted in literature that the upper third to upper half of the diabase sill is the mineralized horizon – it is now our belief that the entire diabase sill has the potential to be mineralized.”
Property Map
Visit the Canada Cobalt website at https://canadasilvercobaltworks.com/ for an updated Castle Property Map, or click on the following link: https://canadasilvercobaltworks.com/projects/maps/
Location
The Castle Property is 15 km east of Pan American Silver’s Juby gold deposit, 30 km due south of Alamos Gold’s Young-Davidson mine, 75 km southwest of Kirkland Lake Gold’s Macassa Complex, and 100 km southeast of new gold discoveries in the Timmins West area.
Quality Assurance/Quality Control
Samples were collected using a 0.3-meter minimum length, one-meter maximum length. Drill core recovery averaged 95%. Two quality control samples (blank and standards) were inserted into each batch of 20 samples. The drill core was sawn with one half of the sawn core placed in a plastic bag with the sample tag and sealed, while the second half was returned to the core box for storage on site. For the high-grade intercepts, only one-quarter of the core has been sent for assaying to Swastika Laboratories in Swastika, Ontario. Where silver was visually and significantly present, a pulp-metallic analysis was requested for the silver and gold assays where the entire sample is dried, weighed and crushed over 95% then fully pulverized and passed through 200-mesh screen to create a plus 200-mesh fraction (metallics) and a minus 200-mesh fraction (pulp). The minus 200-mesh fraction (fines) was run using geochemical analysis with AA finish for Ag, Au, Cu, Ni, and Co. The entire +200 mesh (coarse) fraction was analyzed using gravimetric processes (fire assay) for both Ag and Au to provide a weighted average assay for the entire sample. Swastika Laboratories is an ISO/IEC 17025:2005 certified lab independent of Canada Cobalt.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Matthew Halliday, P.Geo., (APGO) VP Exploration of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp. In May 2020. A total of 7.56 million ounces of silver in Inferred resources comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the east-trending Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020).
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 District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt 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/September2020/30/c5338.html
Contact:
Frank J. Basa, P.Eng., Chief Executive Officer, 416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
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
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
Canada Silver Cobalt Completes Asset Acquisition From Polymet Resources
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to report that it has completed its previously-announced acquisition of the assets of Polymet Resources Inc., including an assay laboratory and bulk sampling plant located in Cobalt, Ontario. The asset acquisition was effected through Temiskaming Testing Laboratories Inc., a wholly-owned subsidiary of Canada Silver Cobalt.
In payment for the assets, Canada Silver Cobalt issued 690,409 shares to Polymet Resources at a deemed price of $0.45 per share, for total deemed consideration of approximately $311,000. Canada Silver Cobalt also assumed outstanding liabilities of Polymet Resources in an amount of approximately $339,000. Each of the shares was accompanied by one common share purchase warrant. Each warrant entitles Polymet Resources to acquire one additional common share of Canada Silver Cobalt at a price of $0.50 for a period of two years. The shares and warrants are subject to a four-month hold period in accordance with applicable securities regulations and the policies of 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.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
- Published in Canada Cobalt Works, Mining, News Home
Canada Silver Cobalt Repurchases Back-in Option From Granada Gold Mine
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (“Canada Silver Cobalt”) has entered into a Purchase and Sale Agreement with Granada Gold Mine Inc. (TSXV: GGM) (“Granada Gold”) pursuant to which Canada Silver Cobalt will repurchase from Granada Gold a back-in option on five mining leases at Castle East, forming part of the Castle mine property near Gowganda, Ontario.
In payment, Canada Silver Cobalt will issue 2,941,000 common shares to Granada Gold at a deemed price of $0.51 per share, for total deemed consideration of approximately $1,500,000. Each of the shares will be accompanied by one common share purchase warrant. Each warrant will entitle GGM to acquire one additional common share of Canada Silver Cobalt for $0.55 for a period of five years.
This Purchase and Sale Agreement was completed in order to accelerate development of the Castle mine property (refer to June 30, 2020, CCW news release). In 2017 Canada Silver Cobalt acquired Granada Gold’s 50% interest in the five mining leases to hold a 100% interest in the property which now encompasses 78 sq. km. Canada Silver Cobalt acquired the 50% interest in the five mining leases in lieu of a $500,000 debt which Granada Gold owed to it. As part of the 2017 transaction, Granada Gold retained a back-in option to repurchase the 50% interest in the five mining leases for $500,000.
Closing of the transaction is expected to take place within the coming days. The shares and warrants issued by Canada Silver Cobalt at closing will be subject to a four-month hold period under applicable securities regulations and the policies of 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.
“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/July2020/02/c1285.html
- Published in Canada Cobalt Works, Mining, News Home