COQUITLAM, BC, June 11, 2021 /CNW/ - Canada Silver Cobalt Works
Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Silver Cobalt") is pleased to report that the environmental
baseline study at Castle East is on track. The company undertook a
Gap Analysis late 2020. Canada Silver Cobalt has since initiated an
environmental baseline study in February this year.
Highlights:
- Phase I, Gap Analysis completed, consisting of initial site
recon, planning of phase II and phase III program
- Significant progress with 10 monitoring well installations
completed between April
29th and May
06th 2021.
- Phase II of III commenced on Q1, 2021 to complete environmental
baseline study and permitting. Multiple studies are currently
underway.
The completed Gap Analysis has outlined multiple studies
required to move the project forward. Surface and Groundwater
studies have begun with 10 monitoring wells having recently been
drilled allowing monthly sampling.
Underway:
Groundwater monitoring is to characterize the amount and
chemistry of groundwater around the site, this will assist in the
ramp design process and the design of the water treatment system
that will be required to treat water from underground
development.
Surface water study is to establish baseline conditions of the
surrounding surface water bodies, and feeds into the permitting for
the industrial sewage work permit.
Aquatic studies are to establish the baseline conditions of the
aquatic environment, including fish and fish habitat, benthic
invertebrates, and sediment quality.
Terrestrial studies establish the baseline conditions of the
terrestrial environment, checking for species at risk, ecological
communities of conservation concern and significant wetlands.
Hydrology study of the surface water is conducted to establish
the flow and hydraulic conditions of the lakes and creeks. Stations
have been set up on Miller Lake
and surrounding outflow sites to be monitored monthly.
Coming up:
Hydrogeological and geochemical studies will be commencing in
the near future, Hydrogeology establishes the hydrogeological
conditions of the site and will enable the development of a
numerical hydrogeological model to support permitting.
Geochemistry studies are to determine the potential for Acid
Rock Drainage (ARD) or metal leaching allowing the Company to be
proactive in determining the best measures to treat the rock.
Matthew Halliday, P.Geo., VP
Exploration and President of Canada Silver Cobalt Works, commented,
"I am pleased to announce the that the environmental permitting and
baseline study at Castle East is well under way. This has been an
extremely busy year for Canada Silver Cobalt; not only have we
completed our Maiden Resource in May
2020 but, since then, have drilled over 35,000 metres of the
60,000-metre program which will contribute significantly to a
resource update. By initiating these activities early, we will
ensure that the permitting process will be smoother and
accomplished in a timely manner to take full advantage of this
silver cycle. Canada Silver Cobalt Works is excited to be working
with all stakeholders on this important project to become one of
Ontario's next critical metals
producers in a timely, open and responsible manner."
Qualified Person
The technical information in this news release was prepared
under the supervision of Mr. Matthew
Halliday, P.Geo., (PGO) President and 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 (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.