(TheNewswire)
Drill Targeting to the St. Denisand Sangster Lithium Project
The survey is an important step incollecting robust data about this underexplored lithium prospect wherewe intend to follow up with field work this summer.
Coquitlam, BC, TheNewswire, July 10, 2023 - Canada Silver Cobalt Works Inc.(TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or"Canada Silver Cobalt"), which is developing severalprecious metal and battery metals properties in Ontario and Quebec, ispleased to announce the expansion of its airborne geophysical surveyprogram to also include the St. Denis and Sangster Lithium Projectlocated in the Cochrane District in northern Ontario.
The Company completed a helicopter Multi-ParameterAirborne Survey System (M-PASS) at the silver-cobalt Castle Propertyin the week of June 25, 2023 (see news release June 28,2023 ) and then proceeded to also completethe survey at the prospective lithium Sangster Block. The St. DenisBlock is on hold for now due to forest fires and will be flown as soonas it is safe to return to the site.
“We’re excited to have the airborne surveycompleted at Castle and Sangster since it will provide importantgeophysical data that we need for the ALS GoldSpot’s AI and machinelearning drill targeting aimed at unlocking the extensivemineralization potential of these properties,” stated Matt Halliday,P.Geo., President and COO. “We’re also looking forward tocompleting the airborne survey at St. Denis as soon as conditionsallow. The pegmatite-rich properties are in a region that hastypically been underexplored and represent attractive greenfieldprojects with significant lithium-cesium-tantalum (LCT) explorationpotential.”
St. Denis and Sangster LithiumProject
“Since we acquired the property earlier this year, wehave been compiling as much data as possible from various sources forthe St. Denis and Sangster blocks. The M-PASS survey will give usvaluable new data to use for our planned field season this summer andto begin using machine-learning targeting techniques to hone in onpotential areas for pegmatites that contain significant LCTmineralogy,” said Mr. Halliday.
“This is a really exciting area. Our neighbours havehad some great success (see below), and we think we have an excellentland package and are keen to deliver the same results. We’reparticularly interested in examining the Sangster Block areacontaining multiple pegmatites mapped by Noranda in 1995 that includesa 130m wide by 1 km long zone interpreted by Noranda aspegmatite.”
The 26,373-hectare St. Denis and Sangster project(including 24,036 hectares in the St-Denis Block and 2,337 hectares inthe Sangster Block) is one of the largest land holdings in theemerging Case Lake LCT pegmatite district of Northeastern Ontario. Theproperty is strategically positioned over an ideal geologicalenvironment for pegmatite mineralization, as demonstrated by a numberof observations of pegmatite in outcrop and drill core in the historicassessment work files and government mapping. The project is supportedby year-round ease of access, proximity to services and suppliers in the mining communities of Timmins andCochrane, and location along strike to a known LCT(lithium-cesium-tantalum) pegmatite occurrence (Case Lake LCTpegmatite swarm).
The St. Denis Block is adjacent to, and the SangsterBlock is located 62 kilometers northwest of, the Case Lakelithium-cesium pegmatite swarm (claims currently held by Power MetalsCorp., “Power Metals”). Power Metals has identified significantlithium and cesium grades in spodumene and pollucite rich pegmatitesat the West Joe Dyke and Main Dyke areas, including 1.58 %Li 2 O (lithium oxide) over15.0 m in drill hole PWM-22-134 (see Power Metals Corp News ReleaseSeptember 8, 2022) and 6.74% Cs 2 O over 5.0 m, 11.0 to 16.0 m in drill hole PWM-18-126.
Canada Silver Cobalt’s Sangster Block covers asimilar geological environment to that of Power Metals’ Case Lakelithium-cesium property, and the St-Denis Main block covers groundwest along strike of the Case Lake property.
Canada Silver Cobalt remains dedicated to pushing theboundaries of exploration and unlocking the full value of its mineralassets. The Company looks forward to the upcoming ground explorationactivities in the St. Denis and Sangster blocks, which hold greatpromise for further discoveries.
For more information and maps, see Canada Silver Cobalt news release April 20,2023 .
Update on the Castle Project
The M-PASS airborne survey, developed in collaborationwith ALS GoldSpot Discoveries Ltd. ("ALS GoldSpot"),represents a significant advancement in the Company's explorationprocess aimed at identifying new high-grade silver-cobalt veinstructures. By integrating state-of-the-art AI and machine-learningtechniques, the survey provides valuable data to optimize drilltargeting at the Castle property, complementing the already impressivehigh-grade silver-cobalt vein discoveries made thus far.
Mr. Halliday stated, "This is an important stepfor the Company as it will provide the additional data we need forhigh-quality AI and machine-learning drill targeting at the Castleproperty. The Castle property holds a wealth of historical drilling,geophysics, and geochemistry data, and the M-PASS survey will helpunlock the underexplored potential of the area, prioritizing drillingactivities and uncovering new high-grade structures.”
The airborne survey, conducted during the week of June25th, covered a total area of 32.8 square kilometers around the CastleMine, encompassing Canada Silver Cobalt’s southern property in theMiller Lake Basin. Leveraging cutting-edge technology developed by ALSGoldSpot, including a triaxial magnetic gradient magnetic/VLFplatform, a 2048 channel radiometric sensor, high-precision LiDARsensor, and high-resolution cameras, the M-PASS platform optimizesexploration workflows by employing computational methods likemultivariate analysis and machine learning. This integration ofadvanced technologies minimizes risks associated with explorationtargeting and enhances the efficiency and effectiveness of resourceidentification.
By combining the advanced AI and machine-learningtechniques of the M-PASS survey with on-the-ground explorationefforts, Canada Silver Cobalt aims to maximize the efficiency andeffectiveness of its exploration program. The Company is dedicated touncovering new discoveries and expanding its resource base whilemaintaining a strong commitment to sustainable and responsible miningpractices.
Qualified person
The technical information in this news release wasapproved and prepared under the supervision of Mr. Matthew Halliday,P.Geo., (PGO), President and COO of Canada Silver Cobalt Works Inc., aqualified person in accordance with National Instrument 43-101.
About ALS GoldSpot DiscoveriesLtd.
ALS GoldSpot Discoveries Ltd. is a Canada-based groupof expert geoscientists and data scientists who specialize inleveraging computational methods, including multivariate analysis andmachine learning, to provide innovative solutions to the mining andexploration industry. ALS GoldSpot's proprietary technology and domainexpertise enable their clients to navigate complex geologicalchallenges effectively.
In today's data-rich mining and exploration landscape,the true value of data lies in its effective integration intodecision-making processes. ALS GoldSpot's team of full-spectrumgeoscientists and data scientists possess unrivaled expertise inmineral exploration and mining, combining proprietary technology withtheir in-depth knowledge. They provide end-to-end services to clientsand partners, addressing big data challenges by integratingunderutilized data to gain deeper insights into resource propertypotential.
As a collective of domain experts in geoscience anddata science, ALS GoldSpot leverages proprietary artificialintelligence (AI) and machine learning (ML) algorithms to delivercustomized solutions to mining and exploration clients. Their uniqueprocesses are specifically designed to enhance exploration,extraction, and processing of mineral resources.
Machine learning plays a pivotal role in mineralexploration and mining, as it enables the creation of analyticalmodels that yield consistent, repeatable, and objective results,empowering informed decision-making. Moreover, ML algorithms have thepotential to uncover unconventional or "hidden" insights,extracting patterns, relationships, and trends from vast amounts ofdata. The upcoming geophysical program at the Castle site will providethe essential data required for high-quality machine learninganalysis.
By collaborating with ALS GoldSpot and deploying theadvanced M-PASS technology, Canadian Silver Cobalt demonstrates itscommitment to employing state-of-the-art methodologies for efficientand data-driven exploration. The joint efforts of the Canada SilverCobalt and ALS GoldSpot promise to unlock new possibilities and drivesignificant advancements in the mineral exploration and miningsector.
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. 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 tonne un-cut or 250.2 oz/ton) in 27,400 tonnes ofmaterial from two sections (1A and 1B) of the Castle East RobinsonZone, beginning at a vertical 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.
The Company also has: (1) 14 battery metals propertiesin Northern Quebec where it has recently completed a nearly16,000-metre drill program on the Graal property; and (2) theprospective 1,000-hectare Eby-Otto gold property close to AgnicoEagle’s high-grade Macassa Mine near Kirkland Lake, Ontario where itis exploring. (3) lithium property – 230 square kilometers ofgreenfield exploration ground focussed along a significant volcanicsedimentary rock – Archean granite contact near Cochrane, Ontariocontiguous to Power Metals’ Case Lake Lithium properties.
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
Or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.com
Neither the TSX Venture Exchange nor its RegulationService Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Caution Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release. This news release may contain forward-lookingstatements which include, but are not limited to, comments thatinvolve future events and conditions, which are subject to variousrisks and uncertainties. Except for statements of historical facts,comments that address resource potential,upcoming work programs, geological interpretations, receipt andsecurity of mineral property titles, availability of funds, and othersare forward-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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