COQUITLAM, BC, June 9, 2021 /CNW/ - Canada Silver
Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Silver Cobalt") is pleased to report that it has filed a technical
report update on SEDAR. The technical report update was prepared in
accordance with National Instrument 43-101 Standards of Disclosure
for Mineral Projects ("NI 43-101").
The Castle East property is 100% owned by Canada Silver Cobalt
Works. After the last mineral resource estimate (press release of
May 28, 2020) the Company initiated
an intense surface drilling program at Castle East zone from
May 2020 through to April 30, 2021 totaling at 29,966.53m. A mineral resource update should
follow once the drilling campaign is completed with all assays
received and interpreted. The current mineral resource estimate
(press release of May 28, 2020) is
still valid.
Qualified Person
The technical information in this news release was prepared
under the supervision of Mr. Merouane
Rachidi, Ph.D., P.Geo., (PGO, OGQ and AIPG) of GoldMinds
Geoservices, an independent 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.