Canada Silver Cobalt Appoints Halliday President and Chief Operating Officer SECOND DRILL RIG FOR CASTLE EAST
Canada Silver Cobalt Appoints Halliday
President and Chief Operating Officer
SECOND DRILL RIG FOR CASTLE EAST
COQUITLAM, BC
,
June 30, 2020
/CNW/ - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC:
CCWOF) (
Frankfurt
: 4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce that
Mr.
Matt Halliday
, P.Geo., has been promoted to the position of President and Chief Operating
Officer (COO) of the Company, in addition to his duties as VP-Exploration, as Canada Silver Cobalt
prepares to aggressively ramp up drilling at Castle East to fully leverage a growing high-grade silver
discovery adjacent to three past producers in
Gowganda
, 75 kilometers southwest of Kirkland
Lake.
As a second drill rig is quickly added to this discovery as part of a new planned program
encompassing 50,000 meters of drilling in 2020, Halliday will direct and supervise all project
operations for Canada Silver Cobalt in his new role as President and COO. He will also immediately
further build out the geological, engineering and environmental team with the goal of completing
permitting and construction of a ramp to the rich Robinson Zone in 2021.
Based on reliable historical reports and internal data, management believes Castle East may
represent the most significant new grassroots high-grade silver discovery in the
Gowganda
mining
camp, and the broader Northern Ontario Silver-Cobalt district, in at least 40 years.
Halliday Appointment
Mr. Halliday first joined Canada Silver Cobalt late last year from
Kirkland Lake Gold
where he
served as resource geologist. A graduate of
Dalhousie University
in 2007, Mr. Halliday honed his
skills for almost eight years with SGS Geostat, known as global leaders in orebody modelling and
reserve evaluation. In 2016 he was part of the SGS team that pushed machine learning into the
geological realm and claimed top prize in the
$1 million
Integra Gold Challenge
.
For more than a dozen years Mr. Halliday has focused on resource reporting and modelling while
also gaining abundant experience with advanced field exploration including major drill programs in
Ontario
,
Quebec
,
Newfoundland
-
Labrador
,
Nunavut
and
Alaska
. With SGS he also enjoyed success
in a business development capacity.
Halliday On Expanded Role
Mr. Halliday commented: "I'm excited to take on new and expanded responsibilities to help guide
Canada Silver Cobalt to the next level as the leading vertically integrated silver-cobalt company in a
prolific district that stretches for 130 km.
"We not only have the grade at Castle East but the opportunity for tremendous scale given the
extent of untested ground in a camp where it appears the oldtimers, despite mining around 70 million
ounces of silver, took only the low-hanging 'fruit'. We'll have a second drill rig turning by about
July
15
as we begin to greatly accelerate this program based on multiple positive indicators.
"We already have exceptional talent within CCW, which we'll be harnessing to an even greater
extent, but it's my mission to quickly build a 'Dream Team' that will execute flawlessly for
shareholders," Mr. Halliday continued. "This may also include a new VP-Exploration as I focus on
making sure we deliver on a dynamic vision for this company in
Canada's
silver-cobalt heartland. We
will use the Castle East discovery in unlocking the value of the adjacent Castle mine and all other
company assets including Temiskaming Testing Laboratories, following a path that helped build
Agnico Eagle – former operator of the Castle mine - into the mining giant it is today."
Maiden Inferred Resource
The Robinson Zone discovery features a very high-grade Inferred resource of
8,582
g/t Ag (
250
oz/ton
) in areas 1A and
1B
for 7.56 million ounces of silver in a total of 27,400 tonnes of material,
using a cut-off grade of 258 g/t AgEq. The discovery is wide open for expansion and the Inferred
resource does not include a second high-grade silver vein intersected 95 meters below the Robinson
Zone. Cobalt is also an important component of this discovery.
The Mineral Resource estimate is dated
May 28, 2020
, and was independently prepared by
GoldMinds Geoservices Inc. in accordance with National Instrument 43-101. A Technical Report with
respect to the Mineral Resource estimate will be filed within 45 days from
May 28, 2020
, in
accordance with NI 43-101. The Company reminds investors, as per NI 43-101, that mineral
resources that are not mineral reserves do not have demonstrated economic viability.
Mr. Halliday is replacing Mr.
Frank Basa
as President while also assuming the new position of Chief
Operating Officer. With his many years of successful experience in the Northern Ontario Silver-
Cobalt district, including his time with Agnico Eagle, Mr. Basa will continue as CEO of Canada Silver
Cobalt while responsibilities for day-to-day operations are assumed by Mr. Halliday. "Matt is
supremely qualified and has the energy, the expertise and the leadership skills to take CCW to a
whole new level," stated Mr. Basa. "We are entering a major growth period and it's time to build out
the team to take full advantage of this discovery and an exciting new bull market in silver."
Castle East In Perspective
Castle East 3D Map (CNW Group/Canada Silver Cobalt Works Inc.)
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 NI 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt's flagship Castle mine and 78 sq. km Castle Property features strong
exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing
Gowganda
high-grade Silver-Cobalt District of
Northern Ontario
. With an important new discovery at Castle
East, underground access at the Castle mine, a processing facility (TTL Laboratories) in the nearby
town of Cobalt, a proprietary hydrometallurgical process known as Re-2OX, and the Beaver and
Violet properties, CCW is strategically positioned to become a Canadian leader in the silver-cobalt
space.
"Frank J. Basa"
Frank J. Basa
, P. Eng.
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 Silver Cobalt Works Inc.
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For further information:
Frank J. Basa, P.Eng., CEO, 1-416-625-2342; Marc Bamber, Director,
[email protected], +44-7725-960939
CO: Canada Silver Cobalt Works Inc.
CNW 08:30e 30-JUN-20