COQUITLAM, BC, Jan. 22, 2021 /CNW/ - Canada Silver Cobalt
Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Silver Cobalt") is pleased to announce visually high-grade silver
has been intersected in a wedge hole. Samples have now been
shipped to SGS Lakefield for rush analysis.
Highlights
- High-grade silver mineralization intersected in wedge hole
CS-20-39 W2
- CS-20-39 W2 intersection is 5 meters above CS-20-39
- Multiple silver-cobalt-mineralized veins intersected
A sample from original hole CS-20-39 is currently at SGS
Lakefield laboratory pending assay.
A new wedge hole off CS-20-39W2 has intersected visually
significant native silver mineralization comparable to the vein
observed in hole CS-20-39, confirming the extension of the
high-grade silver mineralization in this vein. Vein is open
in all directions. Also of note, the previously reported 17-metre
vein zone (CCW press release December 29,
2020) has again been intersected with several of the
variably mineralized veins widening up in the wedge interval.
Matt Halliday, President
commented, "continued success of intersecting high-grade silver
mineralization in the area gives us a better understanding of the
developing geological model. Numerous other silver-cobalt
mineralized veins were also intersected in this wedge hole. With
two drills turning and wedging ongoing, the team on the ground
continues to efficiently advance on schedule."
"With silver and cobalt mineralization in the same vein
structures, Canada Silver Cobalt Works is uniquely positioned in
the electric vehicle market place," said Frank J. Basa, B.Eng., P.Eng., CEO, "Silver is
becoming the new energy metal. Samsung recently revealed in an
article that they developed a solid-state electric vehicle battery
with 500-mile range and a life cycle of 1000 recharges. That's a
vehicle with a battery that lasts 500,000 miles. Better than any
other Lithium-ion battery on the market today."
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) President of Canada Silver Cobalt
Works Inc., a qualified person in accordance with National
Instrument 43-101.
About Canada Silver Cobalt Works Inc.
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. Report reference:
Rachidi, M. 2020, NI 43-101 Technical Report Mineral
Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of
May 28, 2020 and a signature date of
July 13, 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.