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.
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.
A sample from original hole CS-20-39 is currently at SGS Lakefield laboratory pending assay.
High-grade silver mineralization over 5 - 6 cm true width in hole CS-20-39W2
High-grade silver mineralization over 5 – 7 cm true width in hole CS-20-39 – comparable to the average thickness of veins that produced over 70 million ounces from the 3 major past-producers within 2 km of the Robinson Zone.
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. 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.”
said Frank J. Basa, B.Eng., P.Eng., CEO.
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) 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
For further information, contact: Frank J. Basa, P.Eng.
Chief Executive Officer 416-625-2342
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.