CANADA SILVER COBAL T INTERSECTS 13.1 METER MASSIVE SULPHIDES ZONE WITH NICKEL, COPPER AND COBAL T CLOSE TO SURFACE AT GRAAL BATTERY MET ALS PROPERTY IN QUEBEC The most recent discovery intersected 9.30 meters of combined massive sulphides
CANADA SILVER COBAL T INTERSECTS 13.1 METER MASSIVE SULPHIDES ZONE
WITH NICKEL, COPPER AND COBAL T CLOSE TO SURFACE AT GRAAL BATTERY
MET ALS PROPERTY IN QUEBEC
The most recent discovery intersected 9.30 meters of combined massive sulphides
containing 1.20% NiEq, consisting of 0.72% nickel, 0.86% copper and 0.09% cobalt
mineralization in NRC-22-24 at 142.5m.
Coquitlam, BC, April 4, 2022 - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B)
(the "Company" or "Canada Silver Cobalt") is pleased to provide an update on exploration activity at its Graal
nickel-copper-cobalt discovery in the Lac St-Jean region of Quebec, including the most recent assays results
from drill hole NRC-22-24 which intersected 13.1 meters of combined massive sulphides within a 30-meter
zone of disseminated and massive sulphides in a new area located 5 km from the previously reported
discovery of massive sulphides.
“The results coming in from the labs for the drill program at Graal continue to be exciting for our geological
team. Almost every drill hole has encountered disseminated to massive sulphides with strong nickel, copper
and cobalt mineralization. We intend to continue to explore further to determine the full size of this nickel-
copper cobalt deposit as it appears to have the potential to become an important supplier of battery metals
for the EV market,” stated Matt Halliday, P.Geo., President, COO and VP Exploration.
The drilling campaign with 7,772m drilled so far has been paused to allow reception of pending assay data,
bore-hole EM data, and the completion of the SQUID Ground Geophysical Survey. The geophysical survey aims
to more accurately pinpoint and outline the geophysical conductors as well as identify areas where significant
thicknesses are located.
The Company previously reported a major discovery of massive sulphides with high-grade nickel, copper and
cobalt mineralization along with platinum and palladium in the northwest corner of the property where an
airborne geophysical survey had indicated a sizeable gravity anomaly. The first three drill results reported in
this location (NRC-21-02-03-04) showed segments up to 2.08% nickel and 3.75% copper. (See news release
March 3, 2022.) More assays are pending.
In addition, about 5 km to the southeast, the Company also drilled hole NRC-22-24 in a spot that had not yet
been drilled along the 6 km conductor continuity where a previous ground geological survey had indicated a
gravity anomaly (see Figure 5 map below).
This drill hole (NRC-22-24) intersected 13.1 meters of combined massive sulphides within 30 meters of
disseminated and massive sulphides between 121.5 - 152.1 meters downhole. Drill hole NRC-22-24 was
drilled at an azimuth of 115 degrees, dip of -55 degrees, and is located at UTM 386142E, 5521057N. The
other pending assay results will be released once received and validated.
See Table 1 below for assay data, Figures 2 & 3 for core photos, Figure 4 for a cross section of the drill hole
and Figure 5 for a map of Graal property).
Canada Silver Cobalt Works Inc.
3028 Quadra Court
Coquitlam, B.C., V3B 5X6
CanadaSilverCobaltWorks.Com
Page 2 of 7
These latest assay results support the previously estimated potential target along the 6 km conductor
continuity of near-surface tonnage of 30 to 60 million tonnes at a grade range of 0.60% to 0.80% nickel and
0.30% to 0.50% copper with 0.10% to 0.15% cobalt. This estimation does not take into account any potential
at depth which is currently being explored.
Please note that the quantity and grade of this potential target calculation is conceptual in nature, and there
has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result
in the target being delineated as a mineral resource. The potential target primary evaluation is a calculation
of the length multiplied by the thickness of intersection by the density of 3.3 to 4.0 t/m3 multiplied by the
depth extension of 150 to 250m based on historical drill holes.
In addition to the holes drilled by Canada Silver Cobalt, there are historical intersections including hole 1279-
00-10 drilled by Mines d’or Virginia Inc. in June 2000 approximately 200m south of NRC-22-24. This
intersection is not part of the gravity anomaly, yet it still returned 1.15% Ni, 0.56% Cu and 0.15% Co over 4.5
meters (Source :GM 58815) which suggests the mineralization may be larger than the geophysical anomaly
itself.
Table 1: Key sample and assay details for drill hole NRC-22-24
HOLE ID From (m) To (m) Length (m) Ni (%) Cu (%) Co (%) % NiEq (1)
NRC-22-24 121.50 152.10 30.60 0.39 0.40 0.05 0.63
NRC-22-24 121.50 129.20 7.70 0.61 0.34 0.07 0.89
Including 121.50 122.50 1.00 1.30 0.24 0.13 1.69
Including 122.50 123.50 1.00 1.35 1.16 0.14 2.05
NRC-22-24 142.80 152.10 9.30 0.72 0.86 0.09 1.20
Including 142.80 143.70 0.90 1.26 0.10 0.11 1.56
Including 145.60 146.00 0.40 0.21 2.32 0.04 1.01
Including 146.00 146.90 0.90 1.17 0.21 0.12 1.53
Including 148.20 148.90 0.70 1.01 3.31 0.13 2.33
Including 149.40 150.00 0.60 1.02 3.40 0.12 2.35
Including 150.00 151.00 1.00 1.27 0.92 0.16 1.94
Including 151.00 152.10 1.10 1.16 0.89 0.16 1.82
Please note: Intervals are core length and is presumed to be close to true thickness, with no capping applied,
and using quartered core split. Bolded intervals are grade composites.
Note (1) %NiEq = %Ni+(%Cu X CuPrice/ NiPrice)+ %Co X CoPrice/ NiPrice) where Nickel is 33,000USD/t,
Copper is 10,000USD/t and Cobalt is 81,500USD/t; source LME March 30, 2022.
In addition, the technical team has noted other intervals with disseminated to massive sulfides that have
assays pending. These intercepts include but not limited to:
DDH NRC-21-05 intercepted 7.8 meters of mixed and disseminated sulfides mineralization, beginning
at 144.3 meters depth.
DDH NRC-21-06 intercepted 13.4 meters of mixed and massive sulfides mineralization, beginning at
1395.2 meters depth.
Page 3 of 7
DDH NRC-21-07 intercepted 1.9 meters of mixed and massive sulfides mineralization, beginning at
167.8 meters depth.
DDH NRC-21-08 intercepted 9.1 meters of mixed and massive sulfides mineralization, beginning at
121.0 meters depth.
In addition to diamond drilling, bore-hole EM geophysics surveys was completed on several of the holes that
intersected nickel and copper sulfides. The team is awaiting both the data and the geophysical report. The EM
survey should assist in targeting the most prospective anomaly within a 100-meter radius from the existing
holes. The mineralization remains open in all directions and at depth. The next phase of drilling in 2022 will
focus on the areas identified by the SQUID survey. The drill program is currently being managed by Laurentia
Exploration in association with GoldMinds Geoservices Inc.
Figure 1: Map showing the location of NRC-22-24 (white) in addition to historical holes (blue) and the
planned drill holes (yellow) targeting the geophysical anomaly.
Page 4 of 7
Figure 2: Core photo of NRC-22-24 with massive sulfides highlighted in box 28-29
Figure 3: Core photo of NRC-22-24 with massive sulfides highlighted in box 33-35
Figure 4: Cross Section showing Drill Hole NRC-22-24
Page 5 of 7
Page 6 of 7
Figure 5: Map of Graal property with 6 km conductor continuity indicated by red line
QA/QC
The ¼ core samples have been sent rush to OnSite Labs inc. located in Cobalt Ontario for sample preparation
and four-acid digest multi-element suite including nickel and copper as well as a fire assay for platinum and
palladium. Blank and standards were inserted in the sequence and meets expected values allowing the public
disclosure. The ½ core results from ALS will be disclosed once received, verified for comparison to the ¼ core
results.
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds
Geoservices Inc., a member of the Québec Order of Engineers, and is a qualified person in accordance with the
National Instrument 43-101 standards.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East
located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-
class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000m drill
program aimed at expanding the size of the deposit with an update to the resource estimate underway.
In May 2020, based on a small initial drill program, the Company published the region’s first 43-101
resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising
very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from
two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately
400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic
viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate.
Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East,
Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13,
2020.
The Company also has 14 battery metals properties in Northern Quebec where it is currently drilling and
the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle’s high-grade Macassa Mine near
Kirkland Lake, Ontario where it will be exploring in 2022.
Canada Silver Cobalt’s flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong
exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned
Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich
gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, 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 Silver Cobalt is strategically positioned to become a
Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
Page 7 of 7
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
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.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements which include, but are not limited to, comments
regarding the Offering and comments that involve other future events and conditions, which are subject to
various risks and uncertainties. Except for statements of historical facts, comments that address the Offering,
resource potential, upcoming work programs, geological interpretations, receipt and security of mineral
property titles, future financings, availability of funds, and others are forward-looking. Forward-looking
statements are not guarantees of future performance and actual results may vary materially from those
statements. No assurance can be given that the Offering will close on the terms and conditions set out in this
news release or at all. General business conditions are factors that could cause actual results to vary materially
from forward-looking statements. A detailed discussion of the risk factors encountered by Canada Silver Cobalt
is available in the Company’s Annual Information Form dated July 19, 2021 for the fiscal year ended
December 31, 2020 available under the Company’s profile on SEDAR at www.sedar.com.