Canada Silver Cobalt Begins Drilling at Lowney-Lac Edouard in Quebec, Targeting Nickel-Copper-Cobalt Mineralization The property has many yet-to-be-drilled targets and prospective electromagnetic anomalies identified by an airborne geophysical survey.
Canada Silver Cobalt Begins Drilling at Lowney-Lac Edouard in
Quebec, Targeting Nickel-Copper-Cobalt Mineralization
The property has many yet-to-be-drilled targets and prospective electromagnetic anomalies
identified by an airborne geophysical survey.
Coquitlam, BC, December 18, 2023 – Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt:
4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that it has commenced drilling at its
Lowney-Lac Edouard property as part of the first phase of an exploration program targeting prospective areas
identified previously in an airborne geophysical survey.
The drilling is being conducted in the center and southern part of the 7,237-hectare property in areas where
five electromagnetic anomalies were identified by a Geotech VTEM airborne geophysical survey conducted
for Canada Silver Cobalt (see news releases May 24, 2022 and August 29, 2022).
The Lowney-Lac Edouard property is south of the past-producing nickel-copper Lac Edouard Mine and right
next to a property where Rio Tinto, in a 2023 drilling program in the Savane area of a Midland Exploration
Inc. property, discovered high-grade nickel with copper. Midland reported in an April 27, 2023 news release
that Hole MDLD0001, drilled by Rio Tinto, intersected an interval grading 1.07% Ni and 0.13% Cu over 0.78
metres, from 101.87 to 102.65 metres. Midland also reported that grab samples taken by prospectors in the
Savane area in 1995 yielded historical values of 1.80% Ni and 0.20% Cu. Another grab sample from a sub -
cropping boulder also yielded grades of 1.98% Ni and 0.46% Cu about 250 metres north of the Savane
showing (Source: SIGEOM NTS sheet 31P07; GM55352). This may not be re presentative of the
mineralisation of Lowney-Lac Edouard.
The area, which has good road access and infrastructure, is near La Tuque in Central Quebec and is located
north of the port of Trois Rivieres and approximately 100 km northwest of Quebec City. (See maps below.)
“We are excited to be following up on what we found in the VTEM geophysical survey. We had to limit our
exploration activity this past summer due to forest fires in Quebec but now is the time to catch up and we are
looking forward to seeing this property develop further,” said Frank J. Basa, Chief Executive Officer.
The first phase is expected to involve 1,500 metres of drilling and the second phase, planned for 2024,
dependent on drill results from the first phase, could include the testing of additional targets. The Company
has engaged Laurentia Exploration, Multi Drilling Services and GoldMinds Geoservices for this campaign.
Drilling in this first phase is limited to targets near existing logging roads where permits allow and the
Company is awaiting permits needed for drilling in other areas of the property.
The Lowney-Lac Edouard property is one of 14 critical metals properties in Quebec acquired in late 2020 by
Canada Silver Cobalt targeting nickel, copper, and cobalt mineralization in preparation for the significantly
increased demand for the metals expected for the ongoing electrification programs planned by governments.
(See news releases February 16 and April 20, 2021 and August 29, 2022 for descriptions of the Lowney-Lac
Edouard property).
--q
Canada Silver Cobalt Works Inc.
3028 Quadra Court
Coquitlam, B.C., V3B 5X6
CanadaSilverCobaltWorks.Com
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One of the 14 Quebec properties – the Graal property, where the Company drilled extensively and successfully
in 2021 and 2022 – has been shown to have potentially a large area of near-surface, high-grade nickel-copper
mineralization with cobalt byproduct and showings of platinum and palladium in a 6 km strike length as well
as in other areas of the property. The Graal property is characterized by a large Bouguer gravity anomaly as
is the case with Lowney-Lac Edouard. The Company plans to spin out the Graal Property into a new Company
called Coniagas Battery Metals Inc. (See news release September 26, 2023.)
Note that the Figure 2 map below is updated to November 20, 2023 and the Figure 3 map is from March 2022.
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Figure 1: Location of the Lowney-Lac Edouard and recently acquired Lac Guay properties
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Figure 2: Lowney-Lac Edouard property mineral claims
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Figure 3: Location of the Lowney-Lac Edouard property with adjacent properties
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Figure 4: Planned drill locations at Lowney-Lac Edouard South
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Qualified person
The technical information in this news release has been provided by Laurentia technical team and the
content was reviewed and approved by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc., a member of
Québec Order of Engineers and an independent qualified person in accordance with 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 u n-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: (1) 14 battery metals properties in Northern Quebec where it has recently
completed a nearly 16,000 -metre drill program on the Graal property; (2) the prospective 1,000 -hectare
Eby-Otto gold property close to Agnico Eagle’s high -grade Macassa Mine near Kirkland Lake, Ontario; and
(3) the St. Denis-Sangster lithium project – 260 square kilometers of greenfield exploration ground with
numerous pegmatites focussed along a significant volcanic sedimentary rock – Archean granite contact near
Cochrane, Ontario contiguous to Power Metals’ Case Lake Lithium properties.
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, 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
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
Or:
Wayne Cheveldayoff,
Corporate Communications
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P: 416-710-2410
Caution Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services 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 which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks
and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work program s,
geological interpretations, receipt and security of mineral property ti tles, 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.
General business conditions are factors that could cause actual r esults to vary materially from forward -looking statements. Canada
Silver Cobalt Works Inc. does not undertake, and assumes no obligation, to update or revise, any such forward -looking statements or
forward-looking information contained herein or in other c ommunications to reflect new events or circumstances, except as may be
required by law.