COQUITLAM, BC, May 31, 2018 /CNW/ - Canada Cobalt Works
Inc. (TSX-V: CCW) (OTCPK: TAKRF) (Frankfurt: 4T9B) (the "Company" or "Canada
Cobalt") is pleased to announce that as crews prepare for imminent
and first-ever underground drilling targeting cobalt at the Castle
mine, Canada Cobalt's proprietary Re-2OX process has made an
important breakthrough in dealing with recovery of cobalt and other
metals in the Northern Ontario Cobalt Camp.
SGS Lakefield in Peterborough, Ontario, has used the
environmentally green Re-2OX process to recover 99% of cobalt and
81% of nickel from a composite of gravity concentrates while also
removing 99% of the arsenic, a long-time issue in this cobalt-rich
district. Testing and optimization continue.
The gravity concentrates graded 9.25% cobalt, 5.65% nickel,
9,250 g/t silver and 49.9% arsenic.
Additional stages of the Re-2OX process, overseen by Canada
Cobalt adviser Dr. Ron Molnar, are
expected to produce favorable recoveries for precious metals
(silver and gold) while also achieving a Chinese National Standard
cobalt sulfate and/or cobalt hybrid formulations. Cobalt test
products will be evaluated by potential battery sector clients who
are in discussions with the Company's marketing representative
based in China.
Frank Basa, President and CEO,
commented: "These Re-2OX results are exciting. Canada
Cobalt now has 'proof of concept' for an environmentally green
process that efficiently recovers cobalt and other metals while
successfully removing the arsenic. This is a big step for our
team.
"Combined with our underground access at the Castle mine and
imminent drilling from the first level of this past producer,
Canada Cobalt has distinct advantages in the Northern Ontario
Cobalt Camp in the midst of the electric vehicle supercycle and the
continuing uptrend in cobalt prices," Basa concluded.
Qualified Person
The technical information in this news release was prepared
under the supervision of Frank J.
Basa, P.Eng., Canada Cobalt's President and Chief Executive
Officer, who is a member of Professional Engineers Ontario and a
qualified person in accordance with National Instrument 43-101.
QA/QC
An 82-kilogram sample of vein material that was recently taken
from the first level of the Castle mine was crushed to -10 mesh and
blended by SGS Laboratories in Lakefield,
Ontario, from which a representative sample was submitted
for analysis by lead fusion fire assay for silver and gold.
Other metals were assayed by ICP after multi-acid digestion. The
material was subsequently used for testing the proprietary Re-2OX
process. CCW relies on internal SGS laboratory independent
QA/QC which allows the disclosure of the results
provided.
About Canada Cobalt Works Inc.
Canada Cobalt is a pure play
cobalt company focused exclusively on the Northern Ontario Cobalt
Camp, Canada's most prolific
cobalt district. With three 100%-owned past producing mines, a
proprietary hydrometallurgical process known as Re-2OX, and plans
for a 600-tonne-per-day mill at its flagship Castle Property near
Gowganda, Canada Cobalt is well positioned to become a
vertically integrated North American leader in cobalt extraction
and recovery.
"Frank J. Basa"
Frank J. Basa P. Eng.
President and 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 Cobalt Works Inc.