COQUITLAM, BC, Oct. 16, 2020 /CNW/ - Canada Silver Cobalt
Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Silver Cobalt") is pleased to announce significant ramp project
advancement in environmental studies, site development, community
engagement, First Nations consultations, and exploration which will
further de-risk the Robinson Zone Project which is 100-percent
owned by the Company, in the 78-square-kilometre Castle Silver Mine
property, in Gowganda, Ontario,
Canada.
Highlights and updates:
- Engaged an environmental consultant to begin a gap analysis at
the Robinson Zone. The gap analysis will develop a baseline study
for ramp development. The company plans to setup drill stations
underground to further the exploration program. A bulk sample will
be taken for metallurgical testing.
- Engaged a mining consultant to develop a scope of work for the
upcoming engineering studies to design the ramp. The necessary
information has been forwarded to the mining consultant.
- Retained SGS Lakefield to further develop the company's Re-2OX
process. The metallurgical program will consist of producing
battery-grade cobalt and nickel sulfates with the recovery of
silver into dore bars.
- Advanced the 2020-21 Robinson Zone 50,000-meter drill program
in the fourth quarter with 20 percent completed to date and with
appropriate COVID-19 protocols in place. Four new, mineralized vein
structure have been identified. The exploration target is enlarged
up to 135 metres East-West, up to 100 metres North-South and up to
256 metres vertically.
Matt Halliday, P.Geo., President,
commented: "This is a pivotal moment for CCW. With the continued
success of the drill program, building a ramp to further de-risk
the project is the next stage in developing a robust resource. The
company is adding to our technical team to execute the exploration
and development plans."
Location
The Castle Property is 15 km east of Pan American Silver's Juby
gold deposit, 30 km due south of Alamos Gold's Young-Davidson mine, 75 km southwest of Kirkland Lake Gold's Macassa Complex, and 100 km
southeast of new gold discoveries in the Timmins West
area.
Qualified Person
The technical information in this news release was prepared
under the supervision of Mr. Matthew
Halliday, P.Geo., (APGO) VP Exploration of Canada Silver
Cobalt Works Inc., a qualified person in accordance with National
Instrument 43-101.
About Canada Silver Cobalt Works Inc.
www.canadasilvercobaltworks.com
Canada Silver Cobalt Works released the first-ever resource in
the Gowganda Camp and greater Cobalt Camp. In May 2020. A
total of 7.56 million ounces of silver in Inferred
resources comprising very high-grade silver (8,582 grams per
tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material
from two sections (1A and 1B) of the
Robinson Zone beginning at a vertical depth of approximately 400
meters. The discovery remains open in all directions (1A and
1B are approximately 800 meters from
the east-trending Capitol Mine workings) (mineral resources
that are not mineral reserves do not have demonstrated economic
viability) (refer to Canada Silver Cobalt Works Press Release
May 28, 2020).
Canada Silver Cobalt's flagship Castle mine and 78 sq. km Castle
Property features strong exploration upside for silver, cobalt,
nickel, gold and copper in the prolific past producing Gowganda high-grade Silver District of
Northern Ontario. With underground
access at Castle, a pilot plant to produce cobalt-rich gravity
concentrates on site, a processing facility (TTL Laboratories) in
the town of Cobalt, 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
Silver Cobalt is strategically positioned to become a Canadian
leader in the silver-cobalt space.
"Frank J. Basa"
Frank J. Basa, P. Eng.
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 Silver Cobalt Works Inc.