COQUITLAM, BC, Jan. 26, 2021 /CNW/ - Canada Silver Cobalt
Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Silver Cobalt") is pleased to announce the completion of a
hole-to-hole IP study earlier this month. The study was conducted
on the newly discovered, visually high-grade silver vein
intersected in hole CS-20-39.
Highlights
- Down hole Geophysics was conducted from January 4th -12th 2021.
- The holes used for the hole-to-hole pairing contained zones of
cobalt and silver veining.
- Encouraging results delineated a good response over the
17m mineralized zone.
This study produced testable results that are being investigated
by wedge drilling that is now underway. The team is working
closely with the geophysicists to interpret results from the
initial wedging while a more comprehensive action plan is being
developed to delineate new targets in areas where we have already
qualified the need for enhanced resolution of existing veins.
This initiative will also open up new ground.
A larger geophysical project is also in development that will
utilize the Distributed Array System, "DasVision" which will
incorporate a bigger geographic area. It is anticipated the
study will lead to injecting current in both boreholes and at
surface in order to provide better resolution at depth.
Matt Halliday, President
commented, "The Company is taking full advantage of new geophysical
techniques while maximizing the utility of existing
technologies. As the technical team continues to advance and
better understand this deposit model, we will have a comprehensive
toolbox to facilitate the generation of the best possible targets.
New IP techniques will be part of this toolbox that will also
include advanced cameras, structural technology including oriented
core and directional drilling, and various geochemistry
techniques."
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.