(TheNewswire)
April 1, 2022 – TheNewswire- Coquitlam, BC - Canada Silver Cobalt WorksInc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B)(the "Company" or "Canada Silver Cobalt") ispleased to announce that Robert Suttie has been appointed as ChiefFinancial Officer of the Company effective today, replacing theCompany’s CFO, Mr. Ryan Webster.
Mr. Suttie currently works with Marrelli SupportServices as its President, possessing more than 20 years ofexperience, ten of which were in public accounting prior to his tenurewith the Marrelli organization. Mr. Suttie specializes in managementadvisory services, accounting and the financial disclosure needs ofthe Marrelli group's public client base. Mr. Suttie also serves asChief Financial Officer for a number of other junior mining andtechnology companies listed on the TSX-V and CSE, leveraging hisskills and experience to become integral to the reportingissuers .
The Company thanks Mr. Webster for his contributions tothe Company and wishes him well in his future endeavors.
About Canada Silver Cobalt Works Inc. www.canadasilvercobaltworks.com
Canada Silver Cobalt Works Inc. recently discovered amajor high-grade silver vein system at Castle East located 1.5 km fromits 100%-owned, past-producing Castle Mine near Gowganda in theprolific and world-class silver-cobalt mining district of NorthernOntario. This discovery has the highest silver resource grade in theworld, with recent drill intercepts of up to 89,853 grams/tonne silver(2,621 oz/ton Ag). A drill program is underway to expand the size ofthe deposit with an update to the resource estimate expected by theend of Q1 2022.
In May 2020, based on a small initial drill program,the Company published the region’s first 43-101 resource estimatethat contained a total of 7.56 million ounces of silver in Inferredresources, comprising very high-grade silver (8,582 grams per tonneun-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 verticaldepth of approximately 400 meters. Note that mineral resources thatare 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, NI43-101 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.
CCW also has 35,669 hectares of electric vehicle (EV)battery metals exploration properties (containing nickel, copper andcobalt) with 15 properties in Quebec and 1 in Northern Ontario.Exploration is underway at the Graal massive sulphide formation inNorthern Quebec. Drill core has been encouraging with initial XRFresults up to 2.79% nickel and 25.68% copper in hole NRC 21 03; labresults are still pending.
Canada Silver Cobalt’s flagship silver-cobalt Castlemine and 78 sq. km Castle Property feature strong exploration upsidefor silver, cobalt, nickel, gold, and copper. With underground accessat the fully owned Castle Mine, an exceptional high-grade silverdiscovery at Castle East, a pilot plant to produce cobalt-rich gravityconcentrates on site, a bulk processing facility (TTL Laboratories) inthe town of Cobalt, and a proprietary hydrometallurgical process knownas Re-2Ox (for the creation of technical-grade cobalt sulphate as wellas nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobaltis strategically positioned to become a Canadian leader in the silverand battery metals. More information atwww.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
416-625-2342
Neither the TSX Venture Exchange norits Regulation Service Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
Caution RegardingForward-Looking Statements
This news release may containforward-looking statements which include, but are not limited to,comments regarding the Offering and comments that involve other futureevents and conditions, which are subject to various risks anduncertainties. Except for statements of historical facts, commentsthat address the Offering, resource potential, upcoming work programs,geological interpretations, receipt and security of mineral propertytitles, future financings, availability of funds, and others areforward-looking. Forward-looking statements are not guarantees offuture performance and actual results may vary materially from thosestatements. No assurance can be given that the Offering will close onthe terms and conditions set out in this news release or at all.General business conditions are factors that could cause actualresults to vary materially from forward-looking statements. A detaileddiscussion of the risk factors encountered by Canada Silver Cobalt isavailable in the Company’s Annual Information Form dated July 19,2021 for the fiscal year ended December 31, 2020 available under theCompany’s profile on SEDAR at www.sedar.com.
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