Canada Cobalt Works Announces Assays Show Massive Silver Grades Topping CA-11- 08 as Discovery Builds at Castle East
Canada Cobalt Works Announces Assays
Show Massive Silver Grades Topping CA-11-
08 as Discovery Builds at Castle East
COQUITLAM, BC
,
Dec. 23, 2019
/CNW/ - Canada Cobalt Works Inc. (TSXV: CCW) (OTC:
CCWOF) (
Frankfurt
: 4T9B) (the "Company" or "Canada Cobalt") is pleased to announce that partial
assays from a visually strongly mineralized 4.65-meter core interval in the first wedge hole at the
Robinson Zone Discovery at Castle East (refer to
Dec. 12, 2019
news release) include
50,583.29
g/t silver (
1,476
oz/ton
) from a 0.60-meter sample in addition to cobalt, nickel and copper, and
20,741
g/t silver (
605 oz/ton
) over 1.5 meters.
Assays are still pending for 19 out of 22 samples from the first wedge hole as well as 89
samples from the other three wedge holes.
The drill program, applying technology that was never
previously used at the Castle Property, is now being carried out with deep holes from surface
designed to extend this vein shoot and intersect multiple shoots in what increasingly appears to be a
geologically very fertile area 600 meters to 1,900 meters east of three robust past producers.
Highlights:
Significantly, CS-19-08-W01 not only confirmed the grassroots discovery of a classic Northern
Ontario Silver-Cobalt District-style vein shoot in this heavily under-explored part of the
Nipissing
diabase, but this first wedge hole has cut into an even richer and much wider part of the vein 10
meters above and west of the original discovery intercept (CA-11-08);
CS-19-08-WO1 returned
50,583.29
g/t silver (
1,476
oz/ton), 0.30% cobalt, 0.71% nickel and
0.21% copper over 0.60 meters, higher in silver grade (by 9,639 grams or 282 oz/ton) than the
best intercept in CA-11-08 (refer to
Dec. 4, 2019
news release). In addition, the vein within the
0.60-meter interval in CS-19-08-W01 has a true width (20 cm) three to four times greater than
the apparent same vein in CA-11-08. This is highly encouraging in terms of the potential
strength, richness and extent of this NW-SE-striking and SW dipping vein initially intersected in
CA-11-08 at a vertical depth of approximately 430 meters;
The second and third samples, outside the vein in CS-19-08-W01, returned
1,375
g/t Ag and
422
g/t over 0.40 meters and 0.50 meters, respectively, in silver-filled fractures, providing an
average of
20,741
g/t
(
605 oz/ton
) over the first 1.5 meters of core length assayed. Numbers
are pending for the remaining 3.1 meters of the 4.65-meter interval in addition to other parts of
the hole;
Grades and vein widths reflect what was mined historically in the Gowganda Camp.
Matt Halliday
, Canada Cobalt's newly-appointed VP-Exploration, stated: "The four wedge holes plus
the first deep hole that recently started from surface confirm intense veining at this exciting new
grassroots discovery in an historically productive camp just 75 kilometers from
Kirkland Lake
.
"Exploration is targeting one or more deposits at Castle East in the
Nipissing
diabase, with excellent
gold potential in the Archean rocks above and below the diabase. We have assembled a powerful
team equipped with state-of-the-art technology including GoldMinds Geoservices' custom-built
downhole camera to unlock the full value of this prolific past producing camp for Canada Cobalt,"
Halliday concluded.
Following a short Christmas-New Year's break for drill crews, drilling at the Robinson Zone
Discovery will resume during the first week of January.
Initial assay results from underground drilling at the Castle mine are expected to be released during
the week of
December 30
followed by another important update from Castle East.
Canada Cobalt management extends best wishes to shareholders for a Merry Christmas and happy
holidays.
Maps/Images
Included in this news release (see below) is an updated vertical section for the Castle East high-
grade silver discovery. Refer to the Canada Cobalt web site at
CanadaCobaltWorks.com
for
additional maps, images and video that will be posted during this drill program.
Vertical section for the Castle East high-grade silver discovery (CNW Group/Canada Cobalt Works
Inc.)
Quality Control/Assurance
The drill program and sampling protocol are being managed by geologists from GoldMinds
Geoservices. Holes CS-19-08-W01 to W04 were wedges drilled off the historic CA-11-08 hole. The
original hole was re-opened, a modern gyro survey was completed to confirm the location of the
hole at depth and then the wedges were drilled from different depths using NQ diameter drill core.
Samples were collected using a 0.3-meter minimum length, one-meter maximum length. Drill core
recovery averaged 95%. Two quality control samples (blank and standards) were inserted into each
batch of 20 samples. The drill core was sawn with one half of the sawn core placed in a plastic bag
with the sample tag and sealed, while the second half was returned to the core box for storage on
site. For the high-grade intercepts, only one-quarter of the core has been sent for assaying to
Swastika Laboratories in
Swastika, Ontario
. Where silver was visually and significantly present, a
Pulp-Metallic analysis was requested for the silver and gold assays where the entire sample will be
dried, weighed and crushed over 95% then fully pulverized and passed through 200-mesh screen to
create a plus 200-mesh fraction (metallics) and a minus 200-mesh fraction (pulp). The -200 mesh
fraction (fines) will be run using geochemical analysis with AA finish for Ag, Au, Cu, Ni, and Co. The
entire +200 mesh (coarse) fraction will be analyzed using gravimetric processes (fire assay) for both
Ag and Au to provide a weighted average assay for the entire sample.
Swastika Laboratories is an ISO certified lab independent of Canada Cobalt.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr.
Merouane
Rachidi
, Ph.D., P.Geo., (APGO, APEGNB and OGQ) of GoldMinds Geoservices, a qualified person
in accordance with National Instrument 43-101.
About Canada Cobalt Works Inc.
Canada Cobalt has 100% ownership of the Castle mine and the 78 sq. km Castle Property with
strong exploration upside in the prolific past producing
Gowganda
high-grade Silver Camp of
Northern Ontario
. With underground access at Castle, a 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 while it also exploits a powerful new silver-gold market cycle.
"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.
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For further information:
Frank J. Basa, P.Eng., President and CEO, 1-416-625-2342; Marc
Bamber, Director, [email protected], +44-7725-960939
CO: Canada Cobalt Works Inc.
CNW 12:35e 23-DEC-19