Canada Cobalt More Than Doubles Size of Castle Mine Land Package
Canada Cobalt More Than Doubles Size of
Castle Mine Land Package
COQUITLAM, BC
,
May 10, 2019
/CNW/ - Canada Cobalt Works Inc. (TSXV: CCW) (OTC:
CCWOF) (
Frankfurt
: 4T9B) (the "Company" or "Canada Cobalt") is pleased to announce that it has
added approximately 4,800 hectares to its Castle mine land package, more than doubling the total
size from 29.6 sq. km to approximately 78 sq. km.
A new map of the Gowganda Camp, showing the holdings of Canada Cobalt and others, will be
posted on the Canada Cobalt web site (
www.CanadaCobalt.com
) later today.
The additional strategic contiguous ground is to the north and northeast. Most of it (approximately
4,200 hectares) was acquired in a deal with a local prospector for
$15,000
cash and 200,000
shares of Canada Cobalt, subject to the approval of the TSX Venture Exchange. The balance
(approximately 600 hectares) was acquired through staking. All shares issued are subject to a four
month and a day hold period pursuant to applicable Securities Laws.
Canada Cobalt eagerly anticipates providing more property results in the near future.
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.
About Canada Cobalt Works Inc.
Canada Cobalt is focused on immediate and longer-term value drivers at its past producing Castle
mine and adjoining land package in the historic Northern Ontario Silver-Cobalt district,
Canada's
cobalt heartland since the start of the electric vehicle revolution. The Canada Cobalt "advantage"
includes underground access at Castle, an innovative tailings program with a plan to recover silver,
gold and cobalt, a recently installed pilot plant to produce gravity concentrates on site, a proprietary
hydrometallurgical process known as Re-2OX, and exciting exploration discovery potential at Castle
East.
"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/May2019/10/c4527.html
%SEDAR: 00022378E
For further information:
Frank J. Basa, P.Eng., President and CEO, 1-819-797-4144, or Wayne
Cheveldayoff, Corporate Communications, [email protected], 1-416-710-2410
CO: Canada Cobalt Works Inc.
CNW 14:30e 10-MAY-19