Sonoro Gold Completes Phase 3 Drill Program and Moves Towards an Updated N1 43-101 Technical Report and New PEA for Cerro Caliche
Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to report assay results from the final nine RC drill holes, completing Phase Three of its drilling program at the Cerro Caliche gold project, located in Sonora State, Mexico. As noted in news releases, dated April 5, 2021, and April 26, 2021, the Company extended drilling activities to investigate the potential merging of the Japoneses and Buena Suerte zones into a single body of shallow, oxide gold mineralization. Recent results indicate a coalescence of the two zones over a minimum length of 400 meters which may prove to have significant and positive economic implications for the Company’s proposed Heap Leach Mining Operation (HLMO).
The following map shows the location of the nine RC drill holes as well as the merging of the northern extents of the Japoneses and Buena Suerte zones.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/809af3db-65f4-4881-92a1-be91dc3086ab
Two independent NI 43-101 technical reports, scheduled to be filed in July 2021, will provide valuable information as to whether the identified mineralization is sufficient to support a proposed HLMO with an initial operating capacity of up to 15,000 tons per day (tpd). As previously announced, the Company engaged D.E.N.M. Engineering Ltd. to prepare a Preliminary Economic Assessment (PEA) and Micon International Ltd. to prepare a mineral resource estimate. The mineral resource estimate will include all prior and current exploration data up to April 2021. To date, the Company has drilled and assayed results from over 34,500 meters of drilling, including over 25,000 meters of new drilling since September 2020. When combined with historical data, total exploration at Cerro Caliche totals over 47,500 meters, 433 drill holes and 9,365 surface samples.
Drilling activities on the concession are currently paused to provide the exploration team time to ensure all data and assistance is available to the independent consultants, and to implement any recommendations set forth in the anticipated technical reports. Subject to the terms of project financing, drilling is scheduled to resume by the end of the third quarter of 2021 to continue expanding mineralization and investigating potential high-grade targets.
Potential Coalescence of Japoneses and Buena Suerte Gold Zones
The final nine drill holes were completed along the narrowing gap between the northwest extension of the Japoneses zone, known as the Buena Vista fault vein zone, and the east flank of the Buena Suerte zone. Four of the drill holes cut the east side of Buena Suerte with drill hole SCR-264 intercepting 15.24 meters averaging 0.764 grams of gold per tonne (“g/t Au”), including 1.52 meters averaging 2.402 g/t Au. Drill hole SCR-261 encountered continuous mineralization from surface but intercepted an artisanal mine working at 19.81 meters. The rig was moved 6 meters and the hole was re-drilled as SCR-261B, which intercepted a total of 35 meters of gold mineralization, including 1.5 meters averaging 1.23 g/t Au.
In the northern extent, roughly at the center of the 150-meter gap separating Japoneses and Buena Suerte, drill hole SCR-262 cut multiple intervals of gold mineralization totaling 52 meters from surface including 1.53 meters averaging 2.171 g/t Au. While this area was previously considered to be outside of the mineralized gold zones, drilling results confirm the material presence of gold mineralization and further support the development of a single pit to mine gold mineralization from both the Japoneses and Buena Suerte zones.
These final drilling results mark the conclusion of a highly successful and intense drilling program. As noted above, management expects two independent 43-101 compliant reports to update the resource size and classification and determine whether it is sufficient to support the Company’s proposed HLMO with a conceptual operation of up to 15,000 tpd.
Mel Herdrick, Sonoro’s VP of Exploration noted, “I am pleased that these latest drill holes show the area between the two gold bearing zones, which was previously considered barren, does in fact carry gold mineralization. It is a very encouraging ending for what has been a very effective drill program. There remains much more potential in the areas we plan to drill later this year and next and I expect that this drilling will continue to define and materially expand and categorize the project’s oxide gold mineralization.”
Kenneth MacLeod, Sonoro’s President and CEO added, “We have reached a watershed juncture in the development of Sonoro, as we are now making the transition from an exploration company to our aspirational goal of becoming a gold producer in early 2022. We are grateful for the support of our shareholders over the past three years as we strive to make Cerro Caliche the next mining success story in Mexico.”
John Darch Sonoro’s Chairman commented, “These final drill results reinforce the potential for the Japoneses-Buena Vista and Buena Suerte zones to be assessed as a single pit with all of the attendant cost savings that a single pit may make possible. They also mark the conclusion of an exceptional year, where Sonoro has been transformed from an exploration junior to a development stage company with a goal of achieving production early next year. Our strategy of exploring and developing Cerro Caliche’s extensive shallow oxide gold mineralization while advancing towards becoming a gold producer is advancing as we had hoped. We anticipate this will be confirmed with the filing of the Micon International’s 43-101 technical report on an updated resource estimate, as well as with the filling of the anticipated PEA regarding the proposed project’s economics.”
Assay Results
Drill collar locations, azimuths and dips for the drill holes included are provided in the table below.
All reported intervals in this news report are 45-degree inclined drill holes cutting an assumed 60–90-degree dipping vein zone toward the drill hole, thus the intercept is considered to be approximately 20 degrees or less from having a perpendicular intersection. The true widths of reported drill widths are anticipated to be about 75 percent or more of intercept widths reported.
The above table illustrates the exploration history of the Cerro Caliche concession. Sonoro commenced drilling in October 2018 and completed the first two phases by June 2019 for a total of 96 drill holes totaling 10,328 meters. The Company initiated Phase 3 drilling in August 2020 and completed the program in April 2021. During Phase three, Sonoro completed 170 RC drill holes (18,206.57 meters) and 48 diamond drill core holes including 11 metallurgical PQ drill holes (6,014.9 meters) for a Phase 3 total of 24,221.47 meters of drilling. Total Sonoro drilling amounts to 34,549.63 meters in 314 drill holes. The earlier Corex and Paget drilling of 104 drill holes over 10,762.67 meters, brings the drilling database to a total of 45,312.3 meters over 418 drill holes. Additionally, the data from earlier drilling by Cambior totaling 2,244.85 meters over 15 holes is appended to the Sonoro database.
Quality Assurance/Quality Control (“QA/QC”) Measures and Analytical Procedures
Drill samples are collected with an airstream cyclone and passed into a splitter that divides each sample into quarters. The quartered samples are then bagged and sealed with identification. The sample group has blanks, standards and duplicates inserted into the sample stream.
Bureau Veritas (BV) collects the samples from the drill site and transports them directly to the preparation laboratory in Hermosillo, Sonora. At the preparation laboratory, a split part of each sample (about 500 grams) is reduced through crushing, splitting and pulverization. Thirty grams of each pulverized sample is split apart in the Hermosillo laboratory and undergoes a “Fire Assay” for gold content by reducing the fire assay to a concentrated button of material that is dissolved in acids and the gold content determined by atomic absorption. About another 200 grams of each sample are sent by BV to their Vancouver, Canada laboratory and dissolved in aqua regia for multi-element ICP analysis, including silver.
No QA/QC issues were noted with the results received from the laboratory.
Geologic Description
Cerro Caliche is located 45 kilometers east southeast of Magdalena de Kino in the Cucurpe-Sonora Mega-district of Sonora, Mexico. Multiple historic underground mines were developed in the concession including Cabeza Blanca, Los Cuervos, Japoneses, Las Abejas, Boluditos, El Colorado, Veta de Oro and Espanola. Mineralization types of the Cucurpe-Sonora Mega-district include variants of epithermal low sulfidation veins and related mineralized dikes and associated volcanic domes. Local altered and mineralized felsic dikes cut the mineralized meta-sedimentary rock units and may be associated with mineralization both in the dikes and meta-sedimentary rocks.
Qualified Person Statement
Stephen Kenwood, P.Geo., a Director of Sonoro, is a Qualified Person within the context of National Instrument 43-101 (NI 43-101) and has read and approved this news release. Readers are cautioned that the presence of mineralization on historic mines adjacent to or on Cerro Caliche is not necessarily indicative of economic gold mineralization in the concessions held by the Company.
About Sonoro Gold Corp.
Sonoro Gold Corp. is a publicly listed exploration and development company with a portfolio of exploration-stage precious metal properties in Sonora State, Mexico. The Company has highly experienced operational and management teams with proven track records for the discovery and development of natural resource deposits.
On behalf of the Board of Sonoro Gold Corp.
Per: “Kenneth MacLeod”
Kenneth MacLeod
President & CEO
For further information, please contact:
Sonoro Gold Corp. – Tel: (604) 632-1764
Email: info@sonorogold.com
Forward-Looking Statement Cautions: This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, relating to, among other things, the Company’s plans for the exploration, development and operations at the above-described Cerro Caliche Concessions, located in the municipality of Cucurpe, Sonora, Mexico, including statements regarding the Company’s plans for additional exploration drilling, an anticipated update of the current resource estimate for Cerro Caliche to be included in a Micon International 43-101 technical report to be published in Q3 2021, a planned preliminary economic assessment (“PEA”) to be published in 2021 reporting on the viability of a proposed 20,000 tonne/day mining operation, and other material conditions set out above on which the Company’s development plans are dependent. Although the Company believes that such statements are reasonable based on current circumstances, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “aims”, “potential”, “goal”, “objective”, “prospective” and similar expressions, or that events or conditions “will”, “would”, “may”, “can”, “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties, including the possibility of unfavourable exploration and test results, unfavourable results of the contemplated PEA of the Cerro Caliche project, the lack of sufficient future financing to carry out exploration and development plans and unanticipated changes in the legal, regulatory and permitting requirements for the Company’s exploration programs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or the policies of the TSX Venture Exchange. Readers are encouraged to review the Company’s complete public disclosure record on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Cerro Caliche Project Drill Holes
- Published in Mining, News Home, Sonoro Gold
Canada Silver Cobalt Intersects Major Mid-Grade Silver Vein at 2208 g/t 650 Meters West of Robinson Discovery
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce a major new vein discovery in a distinct area, Robinson West. This latest intercept, Vein 7, is located approximately 650 metres west of the Robinson Zone Discovery hole CA-1108.
Highlights
- Significant silver intercept grading 2,208 g/t silver (64.4 oz/ton) over 0.45 m at a downhole depth of 548.43 meters
- New corridor with significant potential silver mineralized strike distance of 710 meters, striking towards the Robinson Zone.
- Increasing current drill program to 60,000 meters from 50,000 meters to explore the extension
Table 1: CS-20-50 Sample Details
Hole Id | Sample | From (m) | To (m) | Length (m) | Ag gpt | Co % |
CS-21-50 | 13306 | 548.43 | 548.87 | 0.45 | 2,208 | 0.38 |
CS-21-50 is in close proximity to CCW’s “Gold Zone” and, with this new target in mind, the company will take a new strategic outlook to further develop this corridor. Along with the orientation of the vein, there is additional information to support a continued trend to the east.
Based on the successful discovery of multiple veins to date, Canada Silver Cobalt is pleased to announce increasing the current 50,000-meter drill program to 60,000 meters. The Company has now completed 66 % of the 50,000 metres.
In addition, geochemical surveys will be undertaken this summer to help define some of the Archean lithologies and structures that have had little work due to overburden cover. Historically, the Nipissing diabase mafic intrusive lithology has been the focus of exploration in the Miller Lake Basin. The Company is developing models to cover not only the silver-cobalt veining within the Nipissing but to include the Archean basement having identified both silver and gold mineralization therein. To date, only orientation geochemistry surveys have been completed.
Follow-up drilling is underway to intersect this vein both above and below CS-21-50 to determine both extent, and grade and mineralization variability. Ongoing drilling in the area between the Robinson and Robinson West zones is geared toward identifying new veins to enable significant expansion to the existing resource panels outlined in the Company’s maiden resource estimate reported in a Press Release May 28, 2020. The resource estimate identified zones 1A and 1B of the Robinson Zone with an average silver grade of 8,582g/t (250 oz/ton) in a combined 27,400 tonnes of material for a total of 7.56 millionInferred ounces of silver using a cut-off grade of 258 g/t AgEq (mineral resources that are not mineral reserves do not have demonstrated economic viability). 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.
Matt Halliday, P.Geo., President, commented: “With this major new vein discovery highlighting the potential of geophysics to aid in the targeting of new veins, and the ability of geochemistry to identify potentially significant lithological changes near-surface, Canada Silver is excited to evaluate the entire lithologic package and expand the mineralogical potential of this ever-expanding prospectivity.”
Location
The Castle Property is 15 km east of Aris Gold Corp’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.
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 were identified. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the 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 to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/25/c3455.html
Contact:
Frank J. Basa, P.Eng., Chief Executive Officer, 416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
Canada Silver Cobalt Review of Strategic Developments With Real Time Progress Update
Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to provide an update on strategic developments using a proven business model in the Cobalt Camp to achieve production that was employed by successful mining companies like Teck Corp, Noranda, and Agnico-Eagle Mines, all of whom had their roots in the Cobalt Camp.
Highlights of Strategic Developments
- – Discovered high-grade silver mineralized structures – the first and only major discovery in the Historic High-Grade Silver Cobalt Camp in the last 50 years. Ongoing 50,000-meter drilling program.
- – Poured a silver bullion bar using the furnace at Temiskaming Testing Labs from the metallics screened from the high-grade silver-cobalt material of the Castle Silver Mine. Completed the purchase of former Provincial Government’s 20,000 square foot Temiskaming Test Labs (TTL) – a complete analytical lab facility and plant for processing high-grade silver into bullion silver bars.
- – Used the Re-2Ox hydrometallurgical process to produce battery-grade cobalt sulfate. From the same high-grade silver-cobalt material as above, SGS Canada, a Top-tier global service provider to the mining industry, recovered 99 percent of the arsenic.
- – Canada Silver Cobalt is the first company to produce battery-grade Cobalt-sulphate and to recover the arsenic – and the only company in the Cobalt Camp to have done so. Cobalt and Arsenic are 2 of the 35 minerals deemed critical to U.S. National Security and the Economy ( www.usgs.gov ).
Canada Silver Cobalt is the first Company to make a major high-grade silver discovery in Ontario’s 180-kilometer arcuate regional mining district stretching from Gowganda to Silver Centre in the past 50 years. Material from narrow, massive native silver veins was crushed and screened to produced 90 percent pure metallics silver and was then melted and poured using the furnace at TTL directly into a bullion bar. The Company boasts the highest inferred silver resource in the world with 7.5 million ounces at 250 ounces per ton (8,582 g/t).
An upgrade of both the assay lab and high-grade silver processing circuit in the plant has been completed. To ensure regulatory impartiality, the company has engaged a contract lab operator to operate the lab independent of the company. Trial assays are set to begin in June with an aim to attain a 6000-assay per month analytical lab capacity. The secondary crushing and screening circuit in the high-grade silver plant has been rebuilt with a processing capacity rated at 18-20 tonnes per hour. In addition, the bullion furnace has been relined to ensure a fresh and seamless start.
The company has engaged with community members, with municipal, provincial, and federal government officials, with local stake holders, and with five distinct First Nation Communities with three separate agreements in place. The company is proud to be one of only a few that has had a First Nations member as an active director on the Board since 2015.
Highlights of On-going, Real-Time Developments
- – First and only company in the Cobalt Camp to open up an adit and drill underground in the past 40 years; rehabilitate the first level and set up the former mine shaft for dewatering; conduct a pumping test at the Shaft dewatering at 50,000 liters per day; apply for permits for bulk sample mining of mineralized material in open stopes; purchase scoop tram and related mining equipment to begin mining program once permits received. Company confirmed the presence of High-Grade Silver and Cobalt veins left unmined underground which is considered a source of primary feed using a proven, low-cost, successful business model for going into production in the Cobalt Camp by residual mining.
- – Completed mill flowsheet for 600 tpd gravity-flotation Mill with planned initial mill location to be on historic mill footprint. Having identified multiple mineralized vein structures in that area, the proposed mill site was relocated to more proximal to the proposed ramp into the Robinson Zone. On-going drilling to locate a potential non-mineralized area for mill site.
- – Conceptual ramp to Robinson High-Grade Silver Zone completed by mining consultant. Environmental studies to be completed first quarter 2022.
- – Beaver stamp mill tailings drilled and sampled. Permit for testing Castle Tailings received and drill program to be scheduled. On-going test work at SGS on Beaver Tailings is producing excellent preliminary grades and recoveries.
- – On-going bench test work using the Re-2Ox process is proceeding at SGS on secondary feeds consisting of spent Lithium-ion batteries, Nickel-Cadmium batteries, and metal-hydride batteries. SGS has been retained to build the Re-2Ox pilot plant at their laboratory at Lakefield, Ontario.
“The Company has multiple, ongoing, real-time developments facilitating the ability to make a production decision ahead of the final resource calculation aided by continuous drill programs” Frank J. Basa, P.Eng., CEO of Canada Silver Cobalt Works comments. “The company is well-poised, with all the key parameters in place, when the decision will be undertaken to pour silver bullion bars and produce battery metals from either primary mine feed or from recycled spent batteries. We have demonstrated that we can find high-grade mineralized vein structures, recover it, process it and produce final end-products for market.”
The company is well aware of the process economics to develop a successful mining company and employs proven historical business models that have worked in the Cobalt Camp for decades. The company is developing three sources of primary feed concurrently; these being stamp mill tailings, Castle Silver Mine residual recovery of broken mineralize material in the stopes underground, and from unmined, mineralized veins and the greenfield discovery at the Robinson Zone. Secondary feeds would include complex flotation concentrates from other mines and from spent electric batteries.
Location
The Castle Property is 15 km east of Aris Gold Corp’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 Frank J Basa, P.Eng., CEO 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 were identified. 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). More information available at www.canadasilvercobaltworks.com .
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
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
Canada Silver Cobalt Review of Strategic Developments with Real Time Progress Update
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to provide an update on strategic developments using a proven business model in the Cobalt Camp to achieve production that was employed by successful mining companies like Teck Corp, Noranda, and Agnico-Eagle Mines, all of whom had their roots in the Cobalt Camp.
Highlights of Strategic Developments
- Discovered high-grade silver mineralized structures – the first and only major discovery in the Historic High-Grade Silver Cobalt Camp in the last 50 years. Ongoing 50,000-meter drilling program.
- Poured a silver bullion bar using the furnace at Temiskaming Testing Labs from the metallics screened from the high-grade silver-cobalt material of the Castle Silver Mine. Completed the purchase of former Provincial Government’s 20,000 square foot Temiskaming Test Labs (TTL) – a complete analytical lab facility and plant for processing high-grade silver into bullion silver bars.
- Used the Re-2Ox hydrometallurgical process to produce battery-grade cobalt sulfate. From the same high-grade silver-cobalt material as above, SGS Canada, a Top-tier global service provider to the mining industry, recovered 99 percent of the arsenic.
- Canada Silver Cobalt is the first company to produce battery-grade Cobalt-sulphate and to recover the arsenic – and the only company in the Cobalt Camp to have done so. Cobalt and Arsenic are 2 of the 35 minerals deemed critical to U.S. National Security and the Economy (www.usgs.gov).
Canada Silver Cobalt is the first Company to make a major high-grade silver discovery in Ontario’s 180-kilometer arcuate regional mining district stretching from Gowganda to Silver Centre in the past 50 years. Material from narrow, massive native silver veins was crushed and screened to produced 90 percent pure metallics silver and was then melted and poured using the furnace at TTL directly into a bullion bar. The Company boasts the highest inferred silver resource in the world with 7.5 million ounces at 250 ounces per ton (8,582 g/t).
An upgrade of both the assay lab and high-grade silver processing circuit in the plant has been completed. To ensure regulatory impartiality, the company has engaged a contract lab operator to operate the lab independent of the company. Trial assays are set to begin in June with an aim to attain a 6000-assay per month analytical lab capacity. The secondary crushing and screening circuit in the high-grade silver plant has been rebuilt with a processing capacity rated at 18-20 tonnes per hour. In addition, the bullion furnace has been relined to ensure a fresh and seamless start.
The company has engaged with community members, with municipal, provincial, and federal government officials, with local stake holders, and with five distinct First Nation Communities with three separate agreements in place. The company is proud to be one of only a few that has had a First Nations member as an active director on the Board since 2015.
Highlights of On-going, Real-Time Developments
- First and only company in the Cobalt Camp to open up an adit and drill underground in the past 40 years; rehabilitate the first level and set up the former mine shaft for dewatering; conduct a pumping test at the Shaft dewatering at 50,000 liters per day; apply for permits for bulk sample mining of mineralized material in open stopes; purchase scoop tram and related mining equipment to begin mining program once permits received. Company confirmed the presence of High-Grade Silver and Cobalt veins left unmined underground which is considered a source of primary feed using a proven, low-cost, successful business model for going into production in the Cobalt Camp by residual mining.
- Completed mill flowsheet for 600 tpd gravity-flotation Mill with planned initial mill location to be on historic mill footprint. Having identified multiple mineralized vein structures in that area, the proposed mill site was relocated to more proximal to the proposed ramp into the Robinson Zone. On-going drilling to locate a potential non-mineralized area for mill site.
- Conceptual ramp to Robinson High-Grade Silver Zone completed by mining consultant. Environmental studies to be completed first quarter 2022.
- Beaver stamp mill tailings drilled and sampled. Permit for testing Castle Tailings received and drill program to be scheduled. On-going test work at SGS on Beaver Tailings is producing excellent preliminary grades and recoveries.
- On-going bench test work using the Re-2Ox process is proceeding at SGS on secondary feeds consisting of spent Lithium-ion batteries, Nickel-Cadmium batteries, and metal-hydride batteries. SGS has been retained to build the Re-2Ox pilot plant at their laboratory at Lakefield, Ontario.
“The Company has multiple, ongoing, real-time developments facilitating the ability to make a production decision ahead of the final resource calculation aided by continuous drill programs” Frank J. Basa, P.Eng., CEO of Canada Silver Cobalt Works comments. “The company is well-poised, with all the key parameters in place, when the decision will be undertaken to pour silver bullion bars and produce battery metals from either primary mine feed or from recycled spent batteries. We have demonstrated that we can find high-grade mineralized vein structures, recover it, process it and produce final end-products for market.”
The company is well aware of the process economics to develop a successful mining company and employs proven historical business models that have worked in the Cobalt Camp for decades. The company is developing three sources of primary feed concurrently; these being stamp mill tailings, Castle Silver Mine residual recovery of broken mineralize material in the stopes underground, and from unmined, mineralized veins and the greenfield discovery at the Robinson Zone. Secondary feeds would include complex flotation concentrates from other mines and from spent electric batteries.
Location
The Castle Property is 15 km east of Aris Gold Corp’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 Frank J Basa, P.Eng., CEO 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 were identified. 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). More information available at www.canadasilvercobaltworks.com.
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/May2021/19/c7408.html
Contact:
Frank J. Basa, P.Eng., Chief Executive Officer, 416-625-2342
- Published in Canada Cobalt Works, Mining, News Home