Canada Cobalt Sets up Pilot Plant at Castle Mine
Canada Cobalt Sets up Pilot Plant at Castle Mine
COQUITLAM, BC
,
June 28, 2018
/CNW/ - Canada Cobalt Works Inc. (TSX-V: CCW) (OTCPK: TAKRF) (
Frankfurt
: 4T9B) (the
"Company" or "Canada Cobalt") is pleased to provide the following update as the company continues underground drilling and scales
up its Re-2OX cobalt sulphate program with SGS Lakefield.
Highlights:
Canada
Cobalt
is now assembling a pilot plant at the Castle mine to produce bulk gravity concentrates on site for immediate
processing into cobalt sulphate;
Through the company's proprietary Re-2OX process, SGS Lakefield in
Peterborough, Ontario
, is currently precipitating metals
from Castle mine concentrate and crystalizing cobalt sulphate from an organic solution for battery sector evaluation;
Each of the first three underground drill holes on the first level of the Castle mine has intersected visually identifiable
mineralization consisting of cobalt and nickel sulphides and native silver.
Jacques Monette
, Canada Cobalt director and mine consultant, stated: "Underground drilling and rehab are proceeding extremely
well and we eagerly anticipate initial assay results. Almost all pilot plant equipment is now on site with feed from the first level being
stockpiled. Plans are also being made to allow for underground drilling throughout the winter, so crews are busy and excited as we set
the pace in the prolific Northern Ontario Cobalt Camp."
Assembly and testing of the 500 kg per day pilot plant will be completed over the next several weeks with cobalt concentrate slated to
be produced on site beginning during the third quarter. This will allow for a scaling up of the three-stage Re-2OX process at SGS
Lakefield under the supervision of Dr.
Ron Molnar
of the Canada Cobalt Advisory Board.
SGS
Lakefield
has completed bulk SX (solvent extraction) testing with Re-2OX able to remove 99% of the arsenic from concentrate
containing nearly 50% arsenic, while cobalt recovery rates are 99% (refer to Company's
June 8, 2018
, news release).
The fourth hole of the underground drill program is now in progress. Core photos will be added to the Company web site 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 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/June2018/28/c5662.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 15:17e 28-JUN-18