Maps and Photos
Included in this news release (see
below) is a plan view map and three core photos representative
of massive mineralization at this new discovery. Refer to the
Canada Cobalt website at CanadaCobaltWorks.com for updated maps and
additional core photos throughout this drill program.
Disclaimer: Core photos below are of selected intervals and
are not necessarily representative of the mineralization hosted on
the property.
COQUITLAM, BC, Dec. 12, 2019 /CNW/ - Canada Cobalt Works Inc.
(TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Cobalt") is pleased to announce that initial and ongoing follow-up
drilling at the Castle East Robinson Zone high-grade silver
discovery has intersected massive native silver
mineralization over a wider vein width up-dip from drill hole
CA-11-08, further supporting the potential for a rich new
silver-cobalt system in the heart of a basin area immediately
adjacent to three past producers in the prolific Gowganda Camp.
Following four successful short wedge holes that provided
important initial pierce points into this northwest-southeast
striking and southwest dipping vein structure, Canada Cobalt has
just commenced a program of new drill holes from surface aimed in
part at determining the full extent of this highly mineralized
"shoot". The deposit model and history of the Camp, and the broader
Northern Ontario Silver-Cobalt district, shows that these narrow
but unusually rich vein shoots (generally one to six inches in true
width and in rare cases up to ~12 inches in true width) can extend
for tens or even hundreds of feet (pinching and swelling). They are
typically surrounded by strongly mineralized wall rock and often
within a network of closely spaced parallel veins and veinlets in
addition to silver-filled fractures.
The Robinson Zone discovery is unique in the district as it's a
grassroots find of a potential "blind" deposit aided by geophysics
(induced polarization surveys) and a custom built high technology
downhole camera successfully deployed by GoldMines Geoservices who
are managing the current drill program.
Drilling Highlights:
- Wedge hole CS-19-08-W01 intersected a visually highly
mineralized core interval of 4.65 meters (15.25 feet) approximately
10 meters above and west of CA-11-08. Significantly, this interval
includes a large vein of 20 cm (8 inches) estimated true width of
intense native silver, pervasive carbonate alteration and a
visually higher silver-to-calcite ratio than CA-11-08 which
returned 40,944 g/tonne (1,194 oz/ton) silver over an
estimated true width of 5 to 7 cm (2 to 2.5 inches) at a vertical
depth of approximately 430 meters;
- The shoot of high-grade mineralization within the Robinson Zone
discovery vein is now believed to extend for at least 15 meters
(49.2 feet) and was not delimited in any way through the four wedge
holes that each intersected multiple veins and silver-filled
fractures;
- Core from the first four wedge holes has been split and some
samples have already been sent for assaying (assays from the first
wedge hole are possible prior to Christmas).
Doug Robinson, P.Eng., a Canada
Cobalt consultant and a leading authority on silver-cobalt deposits
in the Northern Ontario Silver-Cobalt District, commented: "I've
always believed there were more Castles at Castle. History shows
that these richly mineralized shoots are never found in isolation.
In this case, modern technology has opened a whole new domain of
exploration for Canada Cobalt. What was understandably missed by
historic miners and explorers even 20 or 40 years ago is today's
big opportunity in a region proven to have very strong metal
endowment as the birthplace of Canadian hard rock mining."
Additional Highlights:
- The Robinson Discovery Zone vein shoot has been found just
below the middle of the Nipissing
diabase at under-explored Castle East. The upper and lower portions
of the Nipissing diabase in this
part of the 78 sq. km property have never been systematically
tested, reinforcing the potential for additional deposits beyond
the three main mines in the Gowganda Camp that were very active
high-grade silver producers last century;
- The Robinson Zone discovery is 1.9 kilometers east of Castle
Shaft #3 and less than one kilometer east of the historic workings
at the Capitol and Siscoe (Miller Lake
O'Brien) mines;
- The deposits in the Gowganda Camp are associated with low angle
faults, and those low angle faults are believed to extend to the
Robinson Zone and beyond;
- Drilling continues until a few days prior to Christmas when
crews will take a short break and then resume drilling during the
first week of January. All-in costs for winter drilling are below
industry average at approximately $175 (CDN) per meter.
![Castle Property/Gowganda Camp (CNW Group/Canada Cobalt Works Inc.) Castle Property/Gowganda Camp (CNW Group/Canada Cobalt Works Inc.)](https://mma.prnewswire.com/media/1044595/Canada_Cobalt_Works_Inc__Canada_Cobalt_Intersects_Massive_Silver.jpg)
![Core Photo 1 - CS-19-08-W01 (CNW Group/Canada Cobalt Works Inc.) Core Photo 1 - CS-19-08-W01 (CNW Group/Canada Cobalt Works Inc.)](https://mma.prnewswire.com/media/1044596/Canada_Cobalt_Works_Inc__Canada_Cobalt_Intersects_Massive_Silver.jpg)
![Core Photo 2 - CS-19-08-W02 (CNW Group/Canada Cobalt Works Inc.) Core Photo 2 - CS-19-08-W02 (CNW Group/Canada Cobalt Works Inc.)](https://mma.prnewswire.com/media/1044597/Canada_Cobalt_Works_Inc__Canada_Cobalt_Intersects_Massive_Silver.jpg)
![Core Photo 3 - CS-19-08-W03 (CNW Group/Canada Cobalt Works Inc.) Core Photo 3 - CS-19-08-W03 (CNW Group/Canada Cobalt Works Inc.)](https://mma.prnewswire.com/media/1044598/Canada_Cobalt_Works_Inc__Canada_Cobalt_Intersects_Massive_Silver.jpg)
Corporate Update
Mr. Matt Halliday commences his
duties as VP-Exploration for Canada Cobalt beginning Monday, December 16 (refer to Nov. 18, 2019 news release). He officially
joins Canada Cobalt from Kirkland Lake
Gold where he has been serving as resource geologist.
Mr. Halliday will guide Canada Cobalt's expanded underground and
regional exploration programs in addition to playing an important
role at "CCW PolyMet" in an acquisition that's expected to close
prior to year-end.
Quality Control/Assurance
The drill program and sampling protocol are being managed by
geologists from GoldMinds Geoservices. Holes CS-19-08-W01 to W04
were wedges drilled off the historic CA-11-08 hole. The original
hole was re-opened, a modern gyro survey was completed to confirm
the location of the hole at depth and then the wedges were drilled
from different depths using NQ diameter drill core. Samples were
collected using a 0.3-meter minimum length, one-meter maximum
length. Drill core recovery averaged 95%. Two quality control
samples (blank and standards) were inserted into each batch of 20
samples. The drill core was sawn with one half of the sawn core
placed in a plastic bag with the sample tag and sealed, while the
second half was returned to the core box for storage on site.
For the high-grade intercepts, only one-quarter of the core has
been sent for assaying to Swastika Laboratories in Swastika,
Ontario. Where silver was visually and significantly present,
a Pulp-Metallic analysis was requested for the silver assays where
the entire sample will be dried, weighed and crushed over 95% then
fully pulverized and passed through 200-mesh screen to create a
plus 200-mesh fraction (metallics) and a minus 200-mesh fraction
(pulp). The -200 mesh fraction (fines) will be run using
geochemical analysis with AA finish for Ag, Au, Cu, Ni, and
Co. The entire +200 mesh (coarse) fraction will be analyzed
using gravimetric processes (fire assay) for both Ag and Au to
provide a weighted average assay for the entire sample.
Qualified Person
The technical information in this news release was prepared
under the supervision of Mr. Merouane
Rachidi, Ph.D., P.Geo., (PGO, APEGNB and OGQ) of GoldMinds
Geoservices, a qualified person in accordance with National
Instrument 43-101.
About Canada Cobalt Works Inc.
Canada Cobalt has 100% ownership of the Castle mine and the 78
sq. km Castle Property with strong exploration upside in the
prolific past producing Gowganda
high-grade Silver Camp of Northern
Ontario. With underground access at Castle, a pilot plant to
produce cobalt-rich gravity concentrates on site, 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 Cobalt is strategically positioned to
become a vertically integrated North American leader in cobalt
extraction and recovery while it also exploits a powerful new
silver-gold market cycle.
"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.