COQUITLAM, BC, May 10, 2019 /CNW/ - Canada Cobalt Works Inc.
(TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Cobalt") is pleased to announce that it has added approximately
4,800 hectares to its Castle mine land package, more than doubling
the total size from 29.6 sq. km to approximately 78 sq. km.
A new map of the Gowganda Camp, showing the holdings of Canada
Cobalt and others, will be posted on the Canada Cobalt web site
(www.CanadaCobalt.com) later today.
The additional strategic contiguous ground is to the north and
northeast. Most of it (approximately 4,200 hectares) was acquired
in a deal with a local prospector for $15,000 cash and 200,000 shares of Canada Cobalt,
subject to the approval of the TSX Venture Exchange. The balance
(approximately 600 hectares) was acquired through staking. All
shares issued are subject to a four month and a day hold period
pursuant to applicable Securities Laws.
Canada Cobalt eagerly anticipates providing more property
results in the near future.
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.
About Canada Cobalt Works Inc.
Canada Cobalt is focused on immediate and longer-term value
drivers at its past producing Castle mine and adjoining land
package in the historic Northern Ontario Silver-Cobalt district,
Canada's cobalt heartland since
the start of the electric vehicle revolution. The Canada Cobalt
"advantage" includes underground access at Castle, an innovative
tailings program with a plan to recover silver, gold and cobalt, a
recently installed pilot plant to produce gravity concentrates on
site, a proprietary hydrometallurgical process known as Re-2OX, and
exciting exploration discovery potential at Castle East.
"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.