COQUITLAM, BC, March 30, 2021 /CNW/ - Canada Silver Cobalt
Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Silver Cobalt") and Granada Gold Mines (TSXV: GGM) (OTC: GBBFF) are
pleased to jointly announce that early analysis indicates the
potential for the Re-2Ox (https://www.re-2ox.com/) process to be
used for the extraction of rare earth and alkali metals which have
recently been found at the Granada Gold Mine property. The Re-2Ox
process was previously used in the production of a cobalt sulphate
compound at SGS Canada for end use in lithium-ion batteries at
Canada Silver Cobalt's Castle property from a high-grade silver,
cobalt and arsenic gravity concentrate (refer to CCW Press Release
August 15, 2018).
Processing Highlights
- Processing of mineralized core involves using one of the
conventional mineral processing steps: gravity concentration,
magnetic concentration or flotation.
- Bench scale leach testing to be done on the Granada rare earth and alkali concentrate.
- Pilot plant leach testing to be done on the Granada rare earth and alkali
concentrate.
The U.S. Department of the Interior published a final list of
the 35 metals deemed critical to U.S. National Security and the
Economy. To view the original U.S. government list, follow
this link:
https://www.usgs.gov/news/interior-releases-2018-s-final-list-35-minerals-deemed-critical-us-national-security-and.
The following is a list of the 14 metals now known to be present in
various concentrations at the Granada Gold Mine property's new
discovery on the Big Claim in the 588-meter GR-20-20 hole: arsenic,
barite, cesium, cobalt, gallium, hafnium, magnesium, manganese,
rubidium, scandium, strontium, tungsten, vanadium, and
zirconium.
Both Companies will continue to work together on this initiative
and will look at market demand fundamentals for the rare earth and
alkali metal compounds prior to commencing bench scale testing.
CEO Frank J. Basa, P.Eng.,
commented that "We appear to have 40 percent of the metals deemed
critical to the US national security - everything that is now
coming into focus as being in short supply in the western
world. These recent developments are extremely exciting given
that the timing coincides with an awareness that many countries
must play catch up quickly. Given the well-documented 2020
challenges in sourcing metals, this is resonating in a big
way."
Qualified person
The technical information in this news release has been reviewed
by Claude Duplessis, P.Eng.,
GoldMinds Geoservices Inc. member of Québec Order of Engineers and
a qualified person in accordance with National Instrument 43-101
standards.
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, was 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 feature 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.