The survey is an important step in the exploration process to discover new high-grade silver-cobalt vein structures.
Coquitlam, BC, June 28, 2023 - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) will be conducting an airborne Multi-Parameter Airborne Survey System (M-PASS) developed by ALS GoldSpot Discoveries Ltd. (ALS GoldSpot”) over large sections of its Castle Mine property in Northern Ontario.
“This is an important step for the Company as it will provide the additional data we need for high-quality AI and machine-learning drill targeting at the Castle property to complement the high-grade silver-cobalt vein discoveries we have already made there,” said Matt Halliday, P.Geo, President and COO.
“The Castle property has a rich database of drilling, geophysics and geochemistry accumulated over many years of past mining activity and more recent trenching and drilling of over 60,000 meters. With the added M-PASS survey over the Canada Silver Cobalt Works claims in the Miller Lake Basin, we will add the missing component to complete high-quality machine learning targeting. It is important to note that the Castle property has a lot of ground underexplored which could benefit from this exercise to prioritize drilling and find new high-grade structures,” Mr. Halliday added.
The helicopter airborne survey will be conducted the week of June 25th and will cover a total 32.8 km2 around the Castle Mine covering all Canada Silver Cobalt Works southern property in the Miller Lake Basin.
The cutting-edge M-PASS platform, developed by the expert geoscientists and data scientists at ALS GoldSpot, boasts an impressive array of advanced technologies, including a triaxial magnetic gradient magnetic/VLF platform, a 2048 channel radiometric sensor, high-precision LiDAR sensor, and high-resolution cameras capable of producing four-band imagery. By employing computational methods such as multivariate analysis and machine learning, ALS GoldSpot can effectively optimize conventional exploration workflows, minimizing risks associated with exploration targeting.
The technical information in this news release was approved and prepared under the supervision of Mr. Matthew Halliday, P.Geo., (PGO), President and COO of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.
About ALS GoldSpot Discoveries Ltd.
ALS GoldSpot Discoveries Ltd. is a Canada-based group of expert geoscientists and data scientists who specialize in leveraging computational methods, including multivariate analysis and machine learning, to provide innovative solutions to the mining and exploration industry. ALS GoldSpot’s proprietary technology and domain expertise enable their clients to navigate complex geological challenges effectively.
In today’s data-rich mining and exploration landscape, the true value of data lies in its effective integration into decision-making processes. ALS GoldSpot’s team of full-spectrum geoscientists and data scientists possess unrivaled expertise in mineral exploration and mining, combining proprietary technology with their in-depth knowledge. They provide end-to-end services to clients and partners, addressing big data challenges by integrating underutilized data to gain deeper insights into resource property potential.
As a collective of domain experts in geoscience and data science, ALS GoldSpot leverages proprietary artificial intelligence (AI) and machine learning (ML) algorithms to deliver customized solutions to mining and exploration clients. Their unique processes are specifically designed to enhance exploration, extraction, and processing of mineral resources.
Machine learning plays a pivotal role in mineral exploration and mining, as it enables the creation of analytical models that yield consistent, repeatable, and objective results, empowering informed decision-making. Moreover, ML algorithms have the potential to uncover unconventional or “hidden” insights, extracting patterns, relationships, and trends from vast amounts of data. The upcoming geophysical program at the Castle site will provide the essential data required for high-quality machine learning analysis.
By collaborating with ALS GoldSpot and deploying the advanced M-PASS technology, Canada Silver Cobalt Works demonstrates its commitment to employing state-of-the-art methodologies for efficient and data-driven exploration. The joint efforts of the Canada Silver Cobalt and ALS GoldSpot promise to unlock new possibilities and drive significant advancements in the mineral exploration and mining sector.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.
In May 2020, based on a small initial drill program, the Company published the region’s first 43-101 resource estimate that contained 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 Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. 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.
The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed a nearly 16,000-metre drill program on the Graal property; and (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle’s high-grade Macassa Mine near Kirkland Lake, Ontario where it is exploring. (3) lithium property – 230 square kilometers of greenfield exploration ground focussed along a significant volcanic sedimentary rock – Archean granite contact near Cochrane, Ontario contiguous to Power Metals’ Case Lake Lithium properties.
Canada Silver Cobalt’s flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, 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. More information at www.canadasilvercobaltworks.com.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
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Caution Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services 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 which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.