COQUITLAM, BC, Jan. 29, 2021 /CNW/ - Canada Silver Cobalt Works
Inc. (TSXV: CCW) (OTCQB: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Silver Cobalt") is very pleased to announce the receipt of assays
from hole CS-20-39 at 89,853 grams per tonne silver (2,621
ounces per ton) over 0.3 metres from 557.46 to 557.76m confirming the significant potential of
discovering additional high-grade silver at the Robinson Zone on
the flagship Castle Silver property located near the town of Cobalt
in Northern Ontario, Canada.
Highlights
- Highest grade silver to date at Robinson Zone: 89,853 g/t
silver (2,621 ounces per ton). Vein is from hole CS-20-39 at a
downhole depth of 557.5 – 557.73m
with a true width of 5-7cm.
- 90 percent native silver in the coarse, metallic fraction,
894,813 g/t Ag (26,103 ounces per ton)
- New vein. Grades exceed those from wedge hole CS-19-08W2
released January 10, 2020 (70,380 g/t
silver (2,053 oz/T) over 0.3m)
New high-grade silver vein in CS-20-39 with 5–7 cm true
width, 60m from the main Robinson Vein.
Canada Silver Cobalt President Matt
Halliday, P.Geo. stated, "Bullion bar silver grade of 90%
pure silver in the metallics was recovered from the drill core
within 60 metres from the main vein on the Robinson Zone.
This new vein system is being followed up with directional drilling
(wedging) to define extent of the mineralized structure."
Quality Control/Assurance
The drill program and sampling protocol are being managed by
Canada Silver Cobalt Works geologists. Samples were collected using
a 0.3-meter minimum length, one-meter maximum length. 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. The sample was rushed
to SGS Canada Inc. at Lakefield,
Ontario. Because 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 150-mesh screen
to create a plus 150-mesh fraction (metallics) and a minus 150-mesh
fraction (pulp). The minus 150-mesh (fine) fraction was run using
geochemical analysis with ICP finish for multielement scan
including cobalt and base metals. The entire +150 mesh (coarse)
fraction was analyzed using gravimetric processes (fire assay)
for Ag to provide a weighted average assay for the entire sample.
SGS Canada Inc. is an ISO 17025 certified lab independent of Canada
Silver Cobalt Works.
Location
The Castle Property is 15 km east of Caldas Gold Corp'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.