(TheNewswire)
Developing high-quality, data-drivendrill targets for high-grade silver, cobalt, and gold at the CastleEast property in Gowganda, Ontario
Coquitlam, BC – TheNewswire- November 2, 2021 - Canada Silver Cobalt WorksInc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B)(the "Company" or "Canada Silver Cobalt") ispleased to announce that it has engaged GoldSpot Discoveries Corp.(TSXV: SPOT) (“GoldSpot”) to apply their proprietary machinelearning technology and geoscience expertise to the Castle Eastproject located in Gowganda Ontario.
GoldSpot will be working in conjunction with thegeotechnical team at Canada Silver Cobalt to assist in expandingcurrent resources, creating additional drill targets, and to identifySmart Targets for new discoveries at a more regional scale.
Canada Silver Cobalt Works has extensive datasetsacross multiple geoscientific fields. GoldSpot will homogenize,integrate, process, and interpret these exploration datasets. Theinterpreted and derived products will be used as input layers toGoldSpot’s proprietary machine-learning techniques which will bevalidated by the GoldSpot’s team of expert geoscientists.
“Canada Silver Cobalt has some ofthe best silver intercepts in recent history and we are very excitedto be a part of that,” c omments GoldSpot Chief Executive OfficerVincent Dubé-Bourgeois. “GoldSpot looks forward to working with thegeotechnical team at Canada Silver Cobalt and identifying additionaltargets for expansion of deposits as well as furtherdiscoveries.”
Matt Halliday, President and ChiefOperating Officer, commented: “ Our team looks forward to working with theGoldSpot. I believe that this data-driven project will open up newpossibilities at Castle East, leading to more efficient use of ourdrill meters, and will help us both generate and prioritize drilltargets in our broad exploration package.”
Recent successes, using GoldSpot’s proprietarytechnology include Pretium Resources’ Brucejack Property in NorthernB.C. with the identification of 65 new targets leading to the GoldenMarmot zone as well as at Critical Elements’ Bourier Property inNorthern Quebec where they helped identify 5 new zones ofspodumene-rich (Li-rich) pegmatite, exemplify the potential across allcommodities and multiple deposit types.
Location
The Castle Property is 15 km east of Aris Gold Corp’sJuby gold deposit, 30 km due south of Alamos Gold’s Young-Davidsonmine, 75 km southwest of Kirkland Lake Gold’s Macassa Complex, and100 km southeast of new gold discoveries in the Timmins West area.
Qualified Person
The technical information in this news release wasprepared under the supervision of Mr. Matthew Halliday, P.Geo., (APGO)VP Exploration of Canada Silver Cobalt Works Inc., a qualified personin accordance with National Instrument 43-101.
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 GoldSpot DiscoveriesCorp.
GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF)is a technology company using artificial intelligence to revolutionizethe future of global mineral exploration with a full suite of data andknowledge-driven SaaS tools and services. GoldSpot works with industryleaders across all commodity and deposit types to identify newexploration targets, develop cutting-edge technologies and tostrategically invest in mineral exploration companies. Our leadingteam of expert scientist’s merge geoscience and data science todeliver bespoke solutions that save time, reduce costs and produce farmore accurate results than ever before possible.
For further information please contact:
Vincent Dubé-Bourgeois
Chief Executive Officer
GoldSpot Discoveries Corp.
Tel: 647-992-9837
Email: investors@goldspot.ca
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 the first quarter of 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. Note that mineralresources that are not mineral reserves do not have demonstratedeconomic viability. Please refer to Canada Silver Cobalt Works PressRelease May 28, 2020, for the resource estimate. Report reference:Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimatefor Castle East, Robinson Zone, Ontario, Canada, with an effectivedate of May 28, 2020, and a signature date of July 13, 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, 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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