(TheNewswire)
Upgrades at the TTL facility put theCompany in an excellent position to go into production of concentratesand silver dore bars in a fast-track development model
Coquitlam, BC – TheNewswire- August 1 6 , 2021 - Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the"Company" or "Canada Silver Cobalt") is pleased toannounce that it will begin commissioning the secondary crushingcircuit at its TTL (Temiskaming Testing Labs) bulk processing facilitylocated in Cobalt, Ontario.
“Since acquiring the TTL facility, we have rebuiltthe secondary crushing circuit and completed other upgrades. We arenow able to proceed with commissioning and optimization. This puts theCompany in an excellent position to proceed with its plans to produceconcentrates and silver dore bars in a fast-track developmentmodel,” commented Frank J. Basa, P.Eng.
Canada Silver Cobalt recently acquired the TTL assaylaboratory and bulk sampling/processing facility, which was agovernment-run facility for several decades serving many of thearea’s silver mining companies. The facility is a completehigh-grade processing plant that can take mineralized material fromthe mine to produce high-grade concentrates and dore bars. Theprocessing facility is closed loop and does not produce any wasteby-products. All slags and mineral rejects are further reprocessedoffsite for residual metal recovery. The facility can process and pourover 1 million ounces of silver into dore bars on an annual basis.
The Company has engaged a contract lab operator tooperate the assay lab independently of the Company. At the same time,it has proceeded in the other part of the facility to upgrade the bulkprocessing equipment and bullion furnace. Thesecondary crushing and screening circuit has been rebuilt with aprocessing capacity rated at 18-20 tonnes per hour. In addition, thebullion furnace has been relined and has been used to pour the firstsilver dore bars in the Cobalt Camp from the high-grade silver wastepile rejects at the Castle Mine.
The bulk processing facility will be used initially toproduce concentrates for the Re-2Ox pilot plant and to pour finalsilver dore bars from the mineralized material that will be recoveredfrom the former underground Castle Mine and from the potential ramp atthe Castle East Robinson Zone where a 60,000-meter drill program iscurrently underway. For the commissioning, the Company plans to usemineralized material it expects to receive from the nearby GranadaGold Mine.
Qualified Person
The technical information in this news release wasprepared under the supervision of Mr. Frank J. Basa, P.Eng., ChiefExecutive Officer of Canada Silver Cobalt Works Inc., a qualifiedperson in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
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, withrecent drill intercepts of up to 89,853 grams/tonne silver (2,621 oz/ton Ag). A drill program is underwayto expand the size of the deposit with an update to the resourceestimate scheduled for Q1 2022.
In May 2020, based on a small initial drill program, the Companypublished the region’s first 43-101 resource estimate that containeda total of 7.56 million ounces of silver inInferred resources, comprising very high-grade silver (8,582 grams pertonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from twosections (1A and 1B) of the Castle East Robinson Zone, beginning at avertical depth of approximately 400 meters. Notethat mineral resources that are not mineral reserves do not havedemonstrated economic viability. Please refer to Canada Silver CobaltWorks Press Release May 28, 2020, for the resource estimate. Reportreference: Rachidi, M. 2020, NI 43-101 Technical Report MineralResource Estimate for Castle East, Robinson Zone, Ontario, Canada,with an effective date of May 28, 2020, and a signature date of July13, 2020.
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 processing facility (TTL Laboratories) in thetown of Cobalt, and a proprietary hydrometallurgical process known asRe-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 Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may containforward-looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto various risks and uncertainties. Except for statements ofhistorical facts, comments that address resource potential, upcomingwork programs, geological interpretations, receipt and security ofmineral property titles, 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-lookingstatements.
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