Canada Cobalt Assays 5.2% Cobalt from Selected Underground Sampling as Castle Drill Program Launches
Canada Cobalt Assays 5.2% Cobalt from
Selected Underground Sampling as Castle
Drill Program Launches
COQUITLAM, BC
,
June 8, 2018
/CNW/ - Canada Cobalt Works Inc. (TSXV: CCW) (OTCPK:
TAKRF) (
Frankfurt
: 4T9B) (the "Company" or "Canada Cobalt") is pleased to announce high-grade
cobalt assays from selected composite sampling of waste rock material removed from the first level
of the Castle mine during rehab as the company launches its maiden underground drill program.
Highlights:
Five composite samples ranged from
1.05
% to
5.2
% cobalt, averaging
2.3
% cobalt
Silver values ranged from
167
g/tonne to
240
g/t while one sample returned
10.1
g/t gold
These samples will form part of a 500 kg composite sample that will be put through the
Company's proprietary Re-2OX process to create a cobalt concentrate followed by a cobalt
sulfate and/or cobalt hybrid formulations for evaluation by battery sector clients in
China
Frank Basa
, Canada Cobalt President and CEO, commented: "We look forward to putting this latest
mineralized material through our environmentally green Re-2OX process which has shown
exceptionally high recovery rates and 99% removal of arsenic (see
May 31, 2018
news release).
"Needless to say, our team is tremendously excited as we now launch the first-ever underground drill
program at the Castle mine specifically targeting cobalt that was left behind by previous operators
going back to the early 1900's. We're showing how cobalt works in
Canada
and we look forward to
updating shareholders throughout our drill program," Basa concluded.
Sample
#
Cobalt
%
Silver
g/t
Gold
g/t
Nickel
%
11501
1.05
171.5
0.15
0.24
11502
2.39
141.3
0.39
0.41
11503
1.68
239.8
0.13
0.29
11504
5.19
202.0
0.36
0.93
11505
1.26
167.0
10.13
1.03
Canada
Cobalt
cautions that samples are selective and not necessarily representative of
mineralization underground at the Castle mine.
Qualified Person
The technical information in this news release was prepared under the supervision of
Frank J. Basa
,
P.Eng., Canada Cobalt's President and Chief Executive Officer, who is a member of Professional
Engineers Ontario and a qualified person in accordance with National Instrument 43-101.
QA/QC
Assayed samples are from optical and electronic sorting of waste rock removed from the first level
of the Castle mine during rehab. Five composite samples were transported by truck to Swastika
Laboratories, an accredited lab in
Swastika, Ontario
, for assay. Aqua regia digestion and atomic
absorption finish were used for cobalt, nickel and silver analysis while gold values were determined
by fire assay.
About Canada Cobalt Works Inc.
Canada
Cobalt
is a pure play cobalt company focused exclusively on the Northern Ontario Cobalt
Camp,
Canada's
most prolific cobalt district. With three 100%-owned past producing mines, a
proprietary hydrometallurgical process known as Re-2OX, and plans for a 600-tonne-per-day mill at
its flagship Castle Property near
Gowganda, Canada
Cobalt
is well positioned to become a vertically
integrated North American leader in cobalt extraction and recovery.
"Frank J. Basa"
Frank J. Basa P. Eng
.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release. This news release may contain forward-looking statements including but not limited to
comments regarding the timing and content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements
address future events and conditions and therefore, involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such statements.
SOURCE
Canada Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/June2018/08/c5330.html
%SEDAR: 00022378E
For further information:
Frank J. Basa, P.Eng., President and CEO at 1-819-797-4144, or Wayne
Cheveldayoff, Corporate Communications, [email protected], 416-710-2410
CO: Canada Cobalt Works Inc.
CNW 07:30e 08-JUN-18