(TheNewswire)
Coquitlam, BC – TheNewswire - August 17, 2022 - Canada Silver Cobalt WorksInc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B)(the "Company" or "Canada Silver Cobalt")announces the appointment of Gerhard Kiessling, P.Geo., as VicePresident Exploration, succeeding Matthew Halliday, P.Geo., who willcontinue as President and Chief Operating Officer.
Mr. Kiessling joined Canada Silver Cobalt in 2020 as anexploration geologist and was later promoted to Exploration Manager.Prior to that, he gained valuable geological exploration experienceworking for several companies across Canada including Agnico Eagle,Kirkland Lake Gold, First Cobalt, and McEwen Mining. He graduated fromthe University of Waterloo in 2016 with a Bachelor of Science(Honors), majoring in Earth Science. Growing up in northern Ontario,he was surrounded by mining for most of his life. He is a practisingmember of the Professional Geoscientists of Ontario (PGO).
“We welcome Gerhard to a more senior role at CanadaSilver Cobalt. His extensive knowledge of the geology of northernOntario is a major plus for us. In addition to his most recent work atCastle East, he has participated in several exploration projects inthe area focused on a variety of metals and geological structureswhich will be important as we ramp up exploration at the Eby-Otto goldproperty near the high-grade Macassa Gold Mine just south of KirklandLake, Ontario and about 90 kilometers north of our Castle Mineproperty,” said Matthew Halliday, P.Geo., President and COO.
About Canada Silver Cobalt WorksInc.
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. The Company has completed a 60,000m drill program aimed atexpanding the size of the deposit with an update to the resourceestimate underway.
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.
The Company also has: (1) 14 battery metals propertiesin Northern Quebec where it has recently completed an almost15,000-metre drill program on the Graal property and an airborne VTEMgeophysical survey is being conducted at it Lowney-Lac Edouardproperty; and (2) the prospective 1,000-hectare Eby-Otto gold propertyclose to Agnico Eagle’s high-grade Macassa Mine near Kirkland Lake,Ontario where it will be exploring in 2022.
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, a processing facility (TTL Laboratories) in the town ofCobalt, and a proprietary hydrometallurgical process known as Re-2Ox(for the creation of technical-grade cobalt sulphate as well asnickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt isstrategically positioned to become a Canadian leader in thesilver-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
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 use of proceeds from the Offering and commentsthat involve other future events and conditions, which are subject tovarious risks and uncertainties. Except for statements of historicalfacts, comments that address the use of proceeds from the Offering,resource potential, upcoming work programs, geologicalinterpretations, receipt and security of mineral property titles,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. General business conditions are factors that could causeactual results to vary materially from forward-looking statements. Adetailed discussion of the risk factors encountered by Canada SilverCobalt is available in the Company’s Annual Information Form datedJuly 19, 2021 for the fiscal year ended December 31, 2020 availableunder the Company’s profile on SEDAR at www.sedar.com.
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