(TheNewswire)
The resulting concentrates will thenbe converted with the Company’s Re-2Ox process into EV batterymetals .
Coquitlam, BC – TheNewswire - September20, 2022 - Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the"Company" or "Canada Silver Cobalt") is pleased toannounce that two tonnes of high-grade mineralized material recoveredduring voluntary surface site rehabilitation at the past-producingCastle and Beaver Mines, in addition to high-grade silver tailingsfrom the mines, will be processed at the Company’s TemiskamingTesting Labs (TTL) high-grade bulk processing facility in nearbyCobalt, Ontario.
“Having met with South Korean EV metal buyers lastweek and with the TTL bulk processing facility fully commissioned,including the newly installed gravity processing plant (see newsrelease September 14, 2022), we have begun processing two bulk samplestotaling approximately two tonnes mineralized rock recovered from thewaste piles and high-grade silver tailings at our Castle and BeaverMines. We are doing this to produce a concentrate we can use forfurther testing of our Re-2Ox process and also to demonstrate the rolethat the upgraded TTL facility can play in processing high-grademineralized material from the Cobalt Camp,” stated CEO Frank J.Basa, P.Eng.
At TTL, the waste rock material will first be crushedand ground before being screened at 20 mesh to recover potentialnative silver for processing into silver dore bars using thefacility’s bullion furnace.
The remaining sulphide material will then pass throughthe gravity plant to produce a high-grade gravity concentrate, whichwill be assayed for cobalt, nickel, copper, silver, gold and arsenic(arsenic is one of the metals the US have on their critical metalslist).
The high-grade silver tailings will be first screenedat 20 mesh to remove any organics and then processed through the TTLgravity plant to produce a concentrate.
The Company plans to send these high-grade gravityconcentrates to SGS Canada’s laboratory facility in Lakefield,Ontario where, using the Company’s proprietary Re-2Ox process, theywill be converted into battery metals needed in the EV industry.
In 2018, the environmentally friendly Re-2Ox processwas used at SGS Lakefield to produce a technical-grade cobalt sulphatehexahydrate at 22.6%, directly from cobalt-rich gravity concentratesproduced from mineralized material removed from the first level of theCastle mine. The 22.6% cobalt sulphate compound exceeded thespecifications required at that time by battery manufacturersincluding Japan’s Sumitomo Metals. The gravity concentrates usedfor this had graded 9.25% cobalt, 5.65% nickel, 49.9% arsenic and 9.25g/t silver. The Re-20x process recovered 99% of the cobalt and 81% ofthe nickel from the concentrate while also removing 99% of the arsenic- a long-time issue in the cobalt-rich Cobalt Camp but now a criticalmetal. (See news releases January 15, 2021 and May 31 and August 15,2018.)
The Company regards the proprietary Re-2Ox process as along-term strategic advantage that will facilitate the production ofbattery metals for the EV market for many years. It is a closed-loop,zero-discharge hydrometallurgical process with no smelting or burninginvolved, which can meet stringent Canadian and Internationalenvironmental standards and traceable verification. It is,additionally, more energy efficient than existing processes which usesmelting and could have the potential to be used widely in base metalsprocessing especially where high amounts of arsenic arepresent.
Qualified Person
The technical information in this news release wasreviewed and approved by Frank J. Basa, P.Eng., a qualified person inaccordance with National Instrument 43-101.
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 recently completed at its 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 is 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
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-looking statements. A detailed discussion ofthe risk factors encountered by Canada Silver Cobalt is available inthe Company’s Annual Information Form dated July 19, 2021 for thefiscal year ended December 31, 2020 available under the Company’sprofile on SEDAR at www.sedar.com .
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