COQUITLAM, BC, Aug. 15, 2018 /CNW/ - Canada Cobalt Works
Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Cobalt") is pleased to announce that through its proprietary Re-2OX
process at SGS Lakefield, the Company has produced the first-ever
premium grade cobalt sulphate from its 100%-owned Castle mine while
it also moves immediately toward the creation of
nickel-manganese-cobalt battery grade formulations.
Pilot plant production of cobalt-nickel-rich gravity
concentrates at the Castle mine, now underway, will allow for a
scaling up of the Re-2OX process this quarter.
Highlights:
- Canada Cobalt's vertically
integrated, environmentally green Re-2OX process at SGS has
produced a technical grade cobalt sulphate hexahydrate at 22.6%,
directly from cobalt-rich gravity concentrates produced from the
first level of the Castle mine in the prolific Northern Ontario
Cobalt Camp (bypassing the smelting process);
- The 22.6% grade exceeds the technical specifications of cathode
producers in Asia who are in
discussions with the company's marketing representative in that
region to evaluate Canada Cobalt sample product for potential
battery sector use (Re-2OX will meet client specific
purities);
- The very adaptable Re-2OX process will now create a Canada
Cobalt suite of nickel-manganese-cobalt (NMC) battery grade
formulations using an additive approach where necessary.
Frank Basa, President and CEO,
commented: "Through the expertise of Dr. Ron Molnar and the team at SGS in Peterborough, Canada Cobalt has broken new ground as a technology
leader in Canada's most prolific
Cobalt district. We've now
demonstrated that from concentrate produced from the Castle mine,
we can create a premium grade end product (cobalt sulphate) without
a smelting process. This is a testament to the efficiency and
effectiveness of Re-2OX, a process that's very amenable to scaling
up.
"We look forward to marketing the Canada Cobalt Re-2OX brand to
the battery sector while we ramp up activity at the Castle mine
both underground and at surface. Underground work including diamond
drilling is proceeding extremely well, with another update shortly,
while the pilot plant and a surface drill program to test for
potential new discoveries east of the mine add important new
dimensions to this exciting project," Basa concluded.
Cobalt, nickel and manganese
recoveries from the concentrate using Re-2OX were 99%, 81% and 84%,
respectively, while 99% of the arsenic was removed (refer to
May 31, 2018, news release).
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.
Quality Assurance/Quality Control
An 82-kilogram sample of vein material that was taken from the
first level of the Castle mine was crushed to negative 10 mesh and
blended by SGS Laboratories in Lakefield,
Ont., 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.
Canada Cobalt 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 strategically 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.