Canada Cobalt Ramps Up Drilling to Build on New Castle East Discovery Next to Three Past Producers
Canada Cobalt Ramps Up Drilling to Build on
New Castle East Discovery Next to Three Past
Producers
COQUITLAM, BC
,
Feb. 15, 2019
/CNW/ - Canada Cobalt Works Inc. (TSXV: CCW) (OTC:
CCWOF) (
Frankfurt
: 4T9B) (the "Company" or "Canada Cobalt") is pleased to announce that nearly
2,000 meters of drilling in holes CS-18-15 through CS-18-18 has intersected a pyrite-rich Archean
gold system (Castle East) in association with newly-discovered fault structures and a strong
geophysical signature approximately 1.5 km east of the Castle mine. Drilling of hole CS-18-19
begins during the week of
February 18
.
Notably, intense quartz veining, abundant fine-grained disseminated pyrite and multiple styles of
alteration in CS-18-18 suggests geologists are tracking a robust mineralized system as they target a
potentially significant new grassroots discovery that is strengthening toward the west. A 725-meter
long, east-west trending IP anomaly with an associated chargeability halo was detected in this area.
Initial assay results for the first two drill holes, including the CS-18-16 wedge hole that was
completed to a depth of 586 meters, are expected shortly and will be released as soon as they are
received and reviewed.
The Gowganda Silver Camp, which featured three main producers including Castle, has never been
systematically explored for its gold, base metal and PGE potential outside of the
Nipissing
diabase
which hosts the high-grade silver-cobalt mineralization in the area.
The Castle mine is approximately 75 kilometers southeast of the Kirkland Lake Gold Camp and just
15 km east of iMetal Resources' Gowganda West Project where first-ever drilling contiguous to Pan
American Silver's gold deposit is in progress.
Re-2OX And Underground Program (Phases 1 and 2)
Canada Cobalt eagerly anticipates updating shareholders with respect to Re-2OX developments as
well as more Phase 1 results and Phase 2 progress for the underground program at the Castle
mine. Phase 2 is being strategically expanded through new initiatives that have included the
involvement of SGS Lakefield and Wood, building on the success of Phase 1 as the Company
leverages its unique advantages in
Canada's
cobalt heartland.
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 a pure play cobalt company focused on its past producing Castle mine in the
Northern Ontario Cobalt Camp,
Canada's
most prolific cobalt district. With underground access at
Castle, a recently installed pilot plant to produce cobalt-rich gravity concentrates on site, and a
proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt
sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Cobalt is strategically
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/February2019/15/c5755.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 16:30e 15-FEB-19