COQUITLAM, BC, Feb. 5, 2021 /CNW/ - Canada Silver Cobalt
Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Silver Cobalt") is pleased to announce high-grade silver assay
results from a recently completed sonic drill program at the Beaver
Mine. In addition to the high-grade silver veins being documented
at the Castle's Robinson Zone, CCW hosts some of the richest
tailings in the Cobalt Camp on both the Beaver and Castle
properties, The Company is continuing to address all requirements
to advance and develop these projects.
Highlights
- High-grade silver assays from 314.0 to 13.7 grams per
tonne
- Completed 127 sonic drill holes for 354 meters drilled
- 378 samples assayed for silver, cobalt, nickel and copper
Results table
|
Ag
(g/tonne)
|
Co
(ppm)
|
Cu
(ppm)
|
Ni
(ppm)
|
Average
|
79.0
|
165.8
|
341.9
|
114.1
|
Range
|
300.3
|
615
|
676
|
191
|
Minimum
|
13.7
|
24
|
78
|
34
|
Maximum
|
314
|
639
|
754
|
225
|
Count
|
378
|
378
|
378
|
378
|
Canada Silver Cobalt President, Matt
Halliday, P.Geo., stated, "the Beaver Mine has some of the
highest silver grade stamp mill tailings in the Cobalt Camp.
Planning is in place to begin sonic drilling at the Castle Mine
tailings this year. These historic mine properties can provide a
readily available source of mineralized tailings for processing to
recover the silver and cobalt."
GoldMinds Geoservices has been retained to conduct all work
related to the development of the 43-101 resource estimate at the
Beaver Mine and has already been on site and begun the planning
process. GoldMinds is led by geological engineer Claude Duplessis, P.Eng. and his 33 years global
experience including resource estimation, orebody modelling,
resource audits and geotechnical studies.
Silver Grade Distribution Map
Location
The Beaver property is patented ground and is located 5
kilometers southeast of the town of Cobalt where Temiskaming
Testing Labs (TTL) is located. The Castle Silver Cobalt
property is roughly two hours away driving time.
The Castle Property is located 15 km east of Caldas Gold'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
The Beaver tailings were sampled using a Sonic drill. The drill
holes are all vertical with a maximum hole length of 4.78 m and a maximum sample length of
1.6 m (average individual sample
length 0.8 m). Drill sample recovery
is around 85%. Two quality control samples (blank and standards)
were inserted into each batch of 20 samples. The tailings samples
were placed in a plastic bag, tagged and sealed then shipped to ALS
laboratory Val D'Or. The entire
sample was dried, weighed and fully pulverized up to 250 g 85%
<75 µm. Samples were then split using riffle splitter and 35
elements were analysed using Aqua Regia ICP-AES. Samples grading
above 100 g/t Ag, 10,000 ppm Cu, 10,000 ppm Mo, 10,000 ppm Pb or
10,000 ppm Zn were reanalysed using OG46 Method. A total of
10 blank and 10 standards (STD 1 and
STD 2) were used during the sampling
program.
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.
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. 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.