COQUITLAM, BC, May 24, 2019 /CNW/ - Canada Cobalt
Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Cobalt") is pleased to announce that metallurgical testwork
performed by SGS Lakefield has demonstrated that historic stamp
mill tailings at Canada Cobalt's Castle mine are amenable to
flotation and leaching, enhancing potential recoveries and creating
an opportunity for a direct shipping precious metal concentrate in
addition to a Re-2OX cobalt sulphate.
Highlights:
- SGS has produced a high purity flotation silver concentrate
grading 18,486 grams per tonne (539.17 ounces per
ton);
- Optimization is expected to increase the 70% recovery
rate;
- Ontario is "Open For
Business": Through its engineering partner, Canada Cobalt is
working closely and productively with the Ministry of Northern
Development and Mines to quickly secure an amendment to the
company's existing advanced exploration permit to allow the
proposed tailings program to proceed (refer to March 1, 2019, news release).
Castle Tailings Amenable to Flotation
Through a flotation test, SGS has taken a gravity concentrate of
a 120-kilogram sample from the Castle mine's historic tailings pond
with a calculated head assay of 459 g/t silver and has created a
high purity flotation concentrate grading 18,486 g/t with an
initial recovery of 70%.
Given these results, Canada Cobalt is immediately taking a much
larger sample from the tailings for SGS to create another flotation
concentrate including a cobalt concentrate. The aim of the
proposed tailings program is to produce a high purity direct
shipping precious metal concentrate (silver and gold), while Canada
Cobalt's proprietary Re-2OX Process would be used to convert a
cobalt concentrate into a cobalt sulphate.
Quality Assurance/Quality Control
Sample material was derived using flotation processes from the
concentrate of a 120-kilogram sample from the Castle mine's
historic tailings pond that was randomly collected in pails and
subsequently transported by courier to SGS Laboratories, an
accredited lab in Lakefield,
Ontario. These samples were submitted for fire assay for
silver with atomic absorption finish.
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.