(TheNewswire)
Through prospecting, mapping and newgeophysics, CCW is poised to find additional targets for unlockingmineralization.
Coquitlam, BC, September 6, 2023 - Canada Silver CobaltWorks Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the “Company”or “Canada Silver Cobalt”) is pleased to announce the initiationof an exciting new phase in its exploration endeavors. The Company hasofficially commenced lithogeochemical mapping of its St. Denis andSangster properties, focusing on the search for LCT (Lithium, Cesium,Tantalum) type pegmatites. This groundbreaking exploration campaignmarks a significant step forward in Canada Silver Cobalt's mission tounlock the full potential of these highly prospectiveproperties.
Key Highlights of the Lithogeochemical MappingInitiative:
1. Extensive Research and Historical Exploration:Canada Silver Cobalt has undertaken extensive research and analysis ofhistorical exploration data to pinpoint high-priority targets on theSt. Denis and Sangster properties. These targets have beenmeticulously selected based on their promising geologicalcharacteristics and potential for valuable mineralization.
2. Field Truthing and Access Route Development: TheCompany has initiated field truthing activities to validate accessroutes and is actively developing traverses to reach high-priorityareas at both St. Denis and Sangster. Initial ground truthing effortshave already begun at Sangster East, with plans to access criticalparts of Sangster West, where large pegmatites were previously mappedby Noranda.
3. Preliminary MPASS Data by ALS Goldspot: CanadaSilver Cobalt has received preliminary MPASS data produced by ALSGoldspot. The data has revealed numerous points of interest on the St.Denis block southwest of the Power Metals property, prompting furtherinvestigation. The Company eagerly anticipates receiving the finalgeophysical data.
4. Expansion of Exploration Activities: Next week,Canada Silver Cobalt will ramp up exploration efforts by adding asecond field team to the properties. This expansion aims to expeditedata collection and analysis.
Matthew Halliday, President, and COO of Canada SilverCobalt Works, commented, "At this stage in the game, we arelooking to build a comprehensive lithogeochemical map. With a limitedfield season ahead, we are focused on collecting as many rocks as wecan to create this invaluable targeting tool. Our meticulous approachto exploration is aimed at maximizing our understanding of theseproperties and identifying pegmatites with the highest potential foreconomic mineralization."
The Company remains committed to sustainable miningpractices and responsible resource development. Canada Silver CobaltWorks will continue to engage with local communities, Indigenousgroups, and stakeholders throughout its exploration activities,ensuring open and transparent communication.
Investors, media, and stakeholders are invited to stayupdated on the latest developments by visiting the Company's websiteat www.canadasilvercobaltworks.com.
Qualified person
The technical information in this news release wasapproved by and prepared under the supervision of Mr. MatthewHalliday, P.Geo., (PGO), President and COO of Canada Silver CobaltWorks Inc., a qualified person in accordance with National Instrument43-101.
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. 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 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 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
This news release maycontain forward-looking statements which include, but are not limitedto, comments that involve future events and conditions, which aresubject to 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 may cause actual results tovary materially from forward-looking statements.
Copyright (c) 2023 TheNewswire - All rights reserved.