(TheNewswire)
Coquitlam, BC - TheNewswire- May 1, 2023 - Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF)(Frankfurt:4T9B) (the “ Company ” or“ Canada SilverCobalt ”) announces thatit has filed an updated National Instrument 43-101 - Standards of Disclosure for MineralProjects (“ NI 43-101 ”)compliant technical report dated April 6, 2023 on SEDAR for its GraalNickel & Copper Project, Saguenay-Lac-St-Jean, Québec, Canada.The updated report was prepared by Claude Duplessis P.Eng. GoldMindsGeoservices Inc. QP and Hugues Guérin Tremblay P.Geo. LaurentiaExploration Inc. QP. The report updates the NI 43-101 report datedJuly 4, 2022 prepared by Claude Duplessis P.Eng.GoldMinds Geoservices Inc. QP, Hugues Guérin Tremblay P.Geo.Laurentia Exploration Inc. QP and Alizée Liénard, P. Geo. LaurentiaExploration Inc . The updated NI 43-101 reportrecommends a work program in an amount of $500,000 on the Graalproject, including a diamond drilling program for 2,000 metres.
The updated technical report is available under theCompany’s profile on SEDAR at www.sedar.com and on the Company’swebsite.
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 60,000 m 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 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.
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