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."
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.
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.