Canada Silver Cobalt Works Inc. (OTCQB: CCWOF) (TSX.V: CCW) (Frankfurt: 4T9B) is a highly successful silver explorer and, at the same time, a processing technology leader for battery metals and recycling that meet strict environmental standards.
The company has discovered an exceptional high-grade silver deposit on the Castle property in Canada’s Silver-Cobalt Heartland where high-grade silver and cobalt are uniquely found together in high concentrations in the same veins and where mining in the 1900s produced 500 million ounces of silver and 50 million pounds of cobalt.
Drilling has intersected extraordinary silver grades ranging up to 89,853 g/t Ag (2,621 oz/ton). The initial resource estimate issued last year — based on just one vein — is 7.6 million ounces of silver at an average grade of 8,582 g/t (250.2 oz/ton), one of the highest in the world among silver companies.
More news is coming as two drills are turning at Castle to determine the full size of this rich deposit and the company is working on a resource update that will take into account the many silver-cobalt-gold veins discovered since the first estimate last May. More information is available at www.canadasilvercobaltworks.com
In addition, the company has a proprietary, environmentally friendly, closed-loop, Re-2Ox hydrometallurgical process for extracting metals and undesirable elements such as arsenic from mining ores, old tailings piles and recycled batteries without any discharge or smelting involved. The company has already shown via lab tests that Re-2Ox can produce a cobalt sulphate end-product in line with customer specs for the electric vehicle battery industry. Swiss Engineering firm SGS is currently designing and constructing a pilot plant for Re-2Ox and conducting additional testing to show the process can also be used for recycling batteries. More information is available at www.re-2ox.com
On top of this, Canada Silver has the former-producing silver-cobalt Castle Mine, which could be brought back into production. Sampling and drilling underground has shown there is plenty of high-grade silver and cobalt remaining at the mine.
The company also owns the Temiskaming Testing Lab, a combination assay lab/bulk processing/bullion pouring facility nearby in Cobalt, Ontario, which in the past poured silver bars totaling 2.6 million oz/yr for mining companies in the area when it was a regional government facility. This has the potential to be a near-term revenue generator for the company.
Canada Silver has highly experienced technical expertise, with CEO Frank Basa, P.Eng., having worked as the metallurgist in Agnico Eagle’s mill when it operated in the Camp in the 1980s and who developed the Re-2Ox technology. The geological team is led by President, COO and VP Exploration Matt Halliday, P. Geo., and includes long-time district geologists who successfully discovered high-grade veins and mined them over many years in the Camp.
Both the silver discovery and the Re-2Ox technology will be part of Canada Silver Cobalt’s live presentation during the OTC Extractive Industry Investment Opportunities Virtual Conference on March 30 at 2:30 pm EDT. A replay will be available later.
To watch the upcoming presentation, visit: https://ibn.fm/ExtractionConferenceMarch2021
Regarding the above-mentioned silver resource, please 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.
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