COQUITLAM, BC, Jan. 10, 2020 /CNW/ - Canada Cobalt Works
Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Cobalt") is pleased to announce that assays from the second wedge
hole at the Robinson Zone at Castle East, a new grassroots
high-grade discovery adjacent to three past producers, have
returned 70,380 g/t silver (2,053 oz/ton) over 0.30
meters within a broader zone of 1.4 meters grading 20,136
g/t (587 oz/ton) and 4 meters (core length) of
7,259 g/t (212 oz/ton).
The very high-grade intersection in CA-19-08-02 is approximately 8 meters west of the
mineralized zone intersected by the first wedge hole (430 meters
vertical depth) and 17 meters west of the original discovery
intercept in hole CA-11-08.
Assays for cobalt, nickel and copper from CA-19-08-WO2 are still
pending in addition to assays from 28 other samples from this hole.
Assays for the full 4.65-meter strongly mineralized interval (core
length) from hole CA-19-08-W01 are also still pending
(50,583.29 g/t Ag over 0.60 meters within 1.5 meters
of 20,741 g/t) in addition to results from 58 samples from
the third and fourth wedge holes.
Drilling continues as Canada Cobalt builds out this
discovery.
Matt Halliday, Canada Cobalt
VP-Exploration, commented, "These are truly exceptional grades from
the first two holes and 'hits' that typically do not occur in
isolation in this kind of geological setting. We look forward to
providing another update for shareholders in the near future."
Regional Property Map
Please visit the Canada Cobalt web site at CanadaCobaltWorks.com
for an updated location/geological map for the Castle Property,
also included in this news release.
Vertical Section
Included in this news release (see below) is an updated vertical
section map for the Castle East high-grade silver discovery with
the assay table for CA-19-08-W02. Refer to the Canada Cobalt web
site at CanadaCobaltWorks.com for additional maps, images and video
that will be posted during this drill program.
Photos below are of selected intervals and are not necessarily
representative of mineralization hosted on property.
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 and gold assays where the entire sample is 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 minus
200-mesh fraction (fines) was run using geochemical analysis with
AA finish for Ag, Au, Cu, Ni, and Co. The entire +200 mesh (coarse)
fraction was analyzed using gravimetric processes (fire
assay) for both Ag and Au to provide a weighted average assay for
the entire sample.
Swastika Laboratories is an ISO certified lab independent of
Canada Cobalt.
Qualified Person
The technical information in this news release was prepared
under the supervision of Mr. Merouane
Rachidi, Ph.D., P.Geo., (APGO, 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.