Canada Silver Cobalt Initiates Drilling at Castle Project Targeting New Gold and Silver Mineralization Following up on gold discoveries during the Summer 2023 stripping program and silver discoveries during the previous drill program
Canada Silver Cobalt Initiates Drilling at Castle Project Targeting New
Gold and Silver Mineralization
Following up on gold discoveries during the Summer 2023 stripping program and
silver discoveries during the previous drill program
Coquitlam, BC, November 20, 2023 - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF)
(Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce the
commencement of a new 1,500-meter drill program at its Castle Property this week focusing on both
gold and silver targets following the recent success of gold stripping activities in the Miller Lake area.
The Summer 2023 stripping program to the south and west of previous drilli ng identified a
significant opportunity to evaluate gold prospects with the discovery from channel sampling of
multiple samples above 1 gram per tonne (g/t) gold and ranging up to 3.2 g/t gold at the surface (see
news releases July 5 and July 20, 2023).
The targets of the drill program include the new gold areas that have been identified, the potential to
identify silver below the gold prospects, and new silver targets identified south of Castle East. The
first hole will be located 100 meters west of previous drilling at Castle East and is expected to extend
500 meters downhole targeting both gold near surface and silver at depth.
"The Castle Project has demonstrated its potential for both gold and silver, and we are eager to
capitalize on these opportunities," said Matthew Halliday P.Geo, President of Canada Silver Cobalt
Works. "The success of our recent gold stripping activities has opened up new possibilities for gold
mineralization in the shallow Archean cover and the potential for silver mineralization in the diabase
below it. The drilling program marks a strategic step forward in our commitment to unlocking the
full value of the Castle Project."
The drilling program will employ oriented core and methodologies to extract valuable geological data
and assess the economic viability of the identified targets. The company remains dedicated to
employing sustainable and responsible mining practices throughout the exploration process.
Canada Silver Cobalt Works is a leading exploration company focused on unlocking the full potential
of its flagship Castle Project. With a commitment to environmental sustainability and community
engagement, the company aims to contribute positively to the regions in which it operates. Canada
Silver Cobalt Works remains committed to responsible resource development and continues to
engage with local communities, Indigenous groups, and stakeholders to ensure transparent and
collaborative communication throughout our exploration activities.
Investors, media, and stakeholders are invited to stay updated on the latest developments by visiting
the Company's website at www.canadasilvercobaltworks.com.
Qualified person
The technical information in this news release was approved by and prepared under the supervision
of Mr. Matthew Halliday, P.Geo., (PGO), President and COO of Canada Silver Cobalt Works Inc., a
qualified person in accordance with National Instrument 43-101.
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: (1) 14 battery metals properties in Northern Quebec where it has recently
completed a nearly 16,000-metre drill program on the Graal property; and (2) the prospective 1,000-
hectare Eby-Otto gold property close to Agnico Eagle’s high-grade Macassa Mine near Kirkland Lake,
Ontario where it is exploring. (3) St. Denis -Sangster lithium pro ject – 260 square kilometers of
greenfield exploration ground with numerous pe gmatites 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
P: 416-710-2410
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
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 s tatements 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 pr ograms, geological interpretations, receipt and security of mineral property titles,
availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance
and actual results may vary materially from thos e statements. 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 In formation 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.