Canada Silver Cobalt Intersects Major Mid- Grade Silver Vein at 2208 g/t 650 Meters West of Robinson Discovery
Canada Silver Cobalt Intersects Major Mid-
Grade Silver Vein at 2208 g/t 650 Meters West
of Robinson Discovery
COQUITLAM, BC
,
May 25, 2021
/CNW/ - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC:
CCWOF) (
Frankfurt
: 4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce a
major new vein discovery in a distinct area,
Robinson West
. This latest intercept, Vein 7, is located
approximately 650 metres west of the Robinson Zone Discovery hole CA-1108.
Highlights
Significant silver intercept grading 2,208 g/t silver (64.4 oz/ton) over
0.45 m
at a downhole
depth of 548.43 meters
New corridor with significant potential silver mineralized strike distance of 710 meters, striking
towards the Robinson Zone.
Increasing current drill program to 60,000 meters from 50,000 meters to explore the extension
Silver and cobalt mineralization in hole CS-21-50 (2208 g/t Ag, 0.38 % Co) (CNW Group/Canada
Silver Cobalt Works Inc.)
Table 1: CS-20-50 Sample Details
Hole Id
Sample
From (m)
To (m)
Length (m)
Ag gpt
Co %
CS-21-50
13306
548.43
548.87
0.45
2,208
0.38
CS-21-50 is in close proximity to CCW's "Gold Zone" and, with this new target in mind, the company
will take a new strategic outlook to further develop this corridor. Along with the orientation of the
vein, there is additional information to support a continued trend to the east.
Based on the successful discovery of multiple veins to date, Canada Silver Cobalt is pleased to
announce increasing the current 50,000-meter drill program to 60,000 meters. The Company has
now completed 66 % of the 50,000 metres.
In addition, geochemical surveys will be undertaken this summer to help define some of the Archean
lithologies and structures that have had little work due to overburden cover. Historically, the
Nipissing
diabase mafic intrusive lithology has been the focus of exploration in the Miller Lake Basin.
The Company is developing models to cover not only the silver-cobalt veining within the
Nipissing
but
to include the Archean basement having identified both silver and gold mineralization therein. To
date, only orientation geochemistry surveys have been completed.
Follow-up drilling is underway to intersect this vein both above and below CS-21-50 to determine
both extent, and grade and mineralization variability. Ongoing drilling in the area between the
Robinson and Robinson West zones is geared toward identifying new veins to enable significant
expansion to the existing resource panels outlined in the Company's maiden resource estimate
reported in a Press Release
May 28
, 2020. The resource estimate identified zones 1A and
1B
of
the Robinson Zone with an average silver grade of
8,582
g/t
(
250 oz/ton
) in a combined 27,400
tonnes of material for a total of
7.56 million
Inferred ounces
of silver using a cut-off grade of 258
g/t AgEq (mineral resources that are not mineral reserves do not have demonstrated economic
viability). 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
.
Matt Halliday
, P.Geo., President, commented: "With this major new vein discovery highlighting the
potential of geophysics to aid in the targeting of new veins, and the ability of geochemistry to identify
potentially significant lithological changes near-surface, Canada Silver is excited to evaluate the
entire lithologic package and expand the mineralogical potential of this ever-expanding prospectivity."
Location
The Castle Property is 15 km east of Aris Gold Corp's Juby gold deposit, 30 km due south of
Alamos Gold's
Young
-
Davidson
mine, 75 km southwest of
Kirkland Lake Gold's
Macassa Complex,
and 100 km southeast of new gold discoveries in the Timmins West area.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr.
Matthew
Halliday
, P.Geo., (APGO) VP Exploration 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 released the first-ever resource in the Gowganda Camp and greater
Cobalt Camp in May 2020. 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 Robinson Zone beginning at a vertical depth of approximately
400 meters were identified. The discovery remains open in all directions (1A and
1B
are
approximately 800 meters from the Capitol Mine workings) (mineral resources that are not mineral
reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press
Release
May 28
, 2020. 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
).
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 District of
Northern Ontario
. With underground access at Castle, 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.
"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., Chief Executive Officer, 416-625-2342
CO: Canada Silver Cobalt Works Inc.
CNW 12:55e 25-MAY-21