Battery Metals

Canada Silver Cobalt Finalizes Option Agreement For LCT Lithium Property Near Power Metals Corp Case Lake Project

Canada Silver Cobalt Finalizes Option Agreement For LCT Lithium Property Near Power Metals Corp Case Lake Project

(TheNewswire)

Canada Silver Cobalt Works Inc.

The property package is approximately 240 km 2 and is contiguous with Power Metals' Case Lake Lithium LCT property near Cochrane, Ontario.

Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt") announces it has finalized and signed the Option Agreement to acquire a large prospective LCT Pegmatite land package (Lithium-Cesium-Tantalum) near Power Metals Case Lake Project. The Company has strategically staked a large package surrounding both the claims provided by the Option Agreement and claims adjacent to the Power Metals Case Lake LCT Lithium project for a total holding of close to 240 square kilometres. The Property and project will be focused on exploring the LCT potential in the area

Gerhard Kiessling, P.Geo. VP Exploration, commented, "The location, size, and proximity to existing lithium discoveries has our team excited to get started working on this property. With the demand for lithium increasing, we feel that we are in the right place at the right time, and are currently in the process of planning a substantial exploration program for the 2023 field season."

The claim package is contiguous with Power Metal's Case Lake Lithium Property to the east, where their West Joe Dyke and Main Dyke areas have identified some significant lithium grades such as 1.86% Li2O (Lithium) over 19.00m in hole PWM-22-135, 1.58 % Li2O over 15.00m in PWM-22-134 (See Power Metals Corp News Release September 8, 2022), and 1.11% Li2O & 2.15% Cs2O (Cesium) over 6.84m in hole PWM-22-128 (See Power Metals Corp News Release August 19, 2022),

The Property acquisition had focused on two important requirements. The first requirement was land that is both proximal to known mineralization (Power Metals Case Lake) and land that contains pegmatites identified at surface from historical bedrock, quaternary, or engineering maps. The second requirement was whether the property contained the contact between Archean sedimentary rock and Archean massive to foliated granodiorite. The Property covers approximately 52 kilometres of this potentially critical contact. This age of rock and type of contact is a common environment for the occurrence of (Lithium-Cesium-Tantalum) LCT-type pegmatites. As very limited historical work has been done on these claims and geological mapping is available only at a large scale, the property has very significant potential for discoveries of new pegmatite dykes – the primary source of lithium in this geological environment. These pegmatitic dykes can contain spodumene which is a Lithium aluminium inosilicate, otherwise known as a lithium ore mineral, and other elements such as Cesium and Tantalum that make up the ore minerals in LCT type deposits.

The Property acquisition consists of 2 separate agreements and four claim ‘blocks'. The Company and Optionor shall enter into two Option Agreements whereby the Optionor shall grant to the Company the right to acquire an undivided 100% interest in and to the Properties as follows:

  1. Combined cash payment of $20,000 and issuance of 200,000 shares of the Company to be paid to the Optionor, upon TSX Venture Exchange ("Exchange") approval to the Definitive Agreement;

  2. The Company incurs a total exploration expenditure on the Property in the amount $40,000 on or before the one-year anniversary of the Definitive Agreement, to earn an undivided 50% interest in the Property;

  3. Combined cash payment of $40,000, and issuance of 400,000 shares of the Company to the Optionor by the one-year anniversary of the Definitive Agreement date;

  4. The Company incurs a total exploration expenditure in the amount $80,000 on or before the second-year anniversary of the Definitive Agreement, to earn an undivided 100% interest in the Property;

  5. Upon exercise of the Option by the Company, the Company grants to the Optionor a 2% NSR on each of the 1-block and 3-block Properties and on Claims within a 2-kilometre area of influence from the perimeter of the 3-block package as well as to certain CCW claims in between and within a 2-kilometre area of influence from the perimeter of the 1-block property. The Company retains the option to buy back 1% of each NSR for $500,000; and

  6. Upon the filing of a NI 43-101 compliant Resource Estimate, where the resource is located within the area of interest, the Company will issue 150,000 shares to the Optionor if on the three-block property; or 50,000 shares if on the one-block property.


Click Image To View Full Size

Qualified person

The technical information in this news release was approved and prepared under the supervision of Mr. Matthew Halliday, P.Geo., (PGO), President and COO of Canada Silver Cobalt Works Inc., a qualified person accordance with National Instrument 43-101.

About Canada Silver Cobalt Works Inc.

Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.

In May 2020, based on a small initial drill program, the Company published the region's first 43-101 resource estimate that contained 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 Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. 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.

The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed a nearly 15,000-metre drill program on the Graal property; and (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle's high-grade Macassa Mine near Kirkland Lake, Ontario where it is exploring. (3) lithium property – 230 square kilometers of greenfield exploration ground focused along a significant volcanic sedimentary rock – Archean granite contact near Cochrane, Ontario contiguous to Power Metals' Case Lake Lithium properties.

Canada Silver Cobalt's flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, 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. More information at www.canadasilvercobaltworks.com

"Frank J. Basa"

Frank J. Basa, P. Eng.

Chief Executive Officer

For further information, contact:

Frank J. Basa, P.Eng.

Chief Executive Officer

416-625-2342

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.

Caution Regarding Forward-Looking Statements

Neither the TSX Venture Exchange nor its Regulation Services 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 which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. A detailed discussion of the risk factors encountered by Canada Silver Cobalt is available in the Company's Annual Information Form dated July 19, 2021 for the fiscal year ended December 31, 2020 available under the Company's profile on SEDAR at www.sedar.com .

Copyright (c) 2023 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

CCW:CA
The Conversation (0)
Canada Silver Cobalt Works (TSXV:CCW)

Canada Silver Cobalt Works


Keep reading...Show less
Canada Silver Cobalt Reassessing Its Shillington Copper Property with Historical Drill Core Copper Grades up to 18.28 % Cu over 0.30m and as Wide as 0.50% Cu over 12.50m

Canada Silver Cobalt Reassessing Its Shillington Copper Property with Historical Drill Core Copper Grades up to 18.28 % Cu over 0.30m and as Wide as 0.50% Cu over 12.50m

Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (FSE: 4T9B) (the "Company" or "Canada Silver Cobalt") has decided to re-assess the value of it's fully owned Shillington Copper Property north of Castle East, near Gowganda Ontario. The Shillington Copper Property has the potential to become a valuable Copper exploration asset given the current market demand.

The Company had previously acquired the 2190-hectare Shillington Copper Property in 2020 to expand the land package and exploration potential north of Castle East given the geology and controlling structures nearby. The Company completed a ground-truthing and prospecting program in 2021 over a 2 square kilometre area and identified strong mineralization from grab and outcrop samples. The Company will plan a future exploration program to define the extent of this potential high-grade copper mineralised area.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Canada Silver Cobalt Announces New Independent Board Member

Canada Silver Cobalt Announces New Independent Board Member

(TheNewswire)

Canada Silver Cobalt Works Inc.

Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce the appointment of Ronald Goguen, Sr. to the Company's Board of Directors

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Canada Silver Cobalt Receives Permits to Follow Up on Near-Surface 4,710 g/t Silver and 24.95 g/t Gold Intersections

Canada Silver Cobalt Receives Permits to Follow Up on Near-Surface 4,710 g/t Silver and 24.95 g/t Gold Intersections

(TheNewswire)

Canada Silver Cobalt Works Inc.

Coquitlam, BC TheNewswire - March 6, 2023 Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt") has received new permits to allow follow-up drilling and outcrop stripping on the shallow gold and silver mineralization at Castle East.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Canada Silver Cobalt to Participate and Present at PDAC 2023

Canada Silver Cobalt to Participate and Present at PDAC 2023

(TheNewswire)

Canada Silver Cobalt Works Inc.

Coquitlam, BC TheNewswire - March 1, 2023 Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce it will participate and present at the PDAC 2023 Conference in Toronto from March 5 to March 8, 2023 and welcomes the opportunity to meet with investors to discuss recent developments and plans for the Company.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Canada Silver Cobalt Intersects up to 28.90 Meters of 1.12% Nickel Equivalent near Surface During Phase 2 of Drilling at Graal

Canada Silver Cobalt Intersects up to 28.90 Meters of 1.12% Nickel Equivalent near Surface During Phase 2 of Drilling at Graal

(TheNewswire)

Canada Silver Cobalt Works Inc.

The near-surface mineralization has been intercepted as shallow as 51.50m downhole and contains up to 0.73% Ni, 0.41% Cu, with 1.12% NiEq over 28.90m

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Noram Lithium Files NI43-101 Technical Report for Zeus Lithium Project

Noram Lithium Files NI43-101 Technical Report for Zeus Lithium Project

noram lithium corp. ("noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) announced today that it has filed on SEDAR a National Instrument 43-101 ("NI 43-101") technical report (the "Report") titled "Updated Resource Estimate Zeus Lithium Project". The technical report supports the updated Mineral Resource Estimate announced on January 30, 2023 and is available for review on both SEDAR (www.sedar.com) and the Company's website (www.noramlithiumcorp.com). There are no material differences in the mineral resources reported in the news release of January 30, 2023 and those described in the report

About noram lithium corp.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
ACME Lithium Inc. to Present at 121 Mining Conference in Las Vegas, Nevada March 28th and 29th

ACME Lithium Inc. to Present at 121 Mining Conference in Las Vegas, Nevada March 28th and 29th

ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME") is pleased to announce that President and CEO Steve Hanson will be meeting and presenting to investors at 121 Mining Conference in Las Vegas, Nevada.

The 121 Mining Investment Las Vegas Summit takes place on March 28th and 29th and attracts US and international investors for two days of investment-led panel sessions and CEO presentations.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Brunswick Exploration Begins Drilling at Anatacau West and Kicks off 2023 Exploration Campaign

Brunswick Exploration Begins Drilling at Anatacau West and Kicks off 2023 Exploration Campaign

Brunswick Exploration Inc. (TSX-V: BRW; " BRW " or the " Company ") is pleased to announce that it has begun drilling at the Anatacau West project, located in the Eeyou-Istchee James Bay region of Quebec. A 3,000-metre drill program is targeting the potential eastern extension of Allkem's James Bay lithium deposit in an area that has yet to be drill-tested. The Company is also planning to sample and analyze historical pegmatite-bearing core at the PLEX project prior to the end of the month followed by the start of another drill program at the Hearst Project located in eastern Ontario in early Q2.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Foremost Lithium to Acquire Lac Simard South Property in Quebec Hosting 24 Identified Pegmatites

Foremost Lithium to Acquire Lac Simard South Property in Quebec Hosting 24 Identified Pegmatites

Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost Lithium", "Foremost" or the "Company") is pleased to announce it has entered into an arm's length property acquisition agreement (the "Property Agreement") to acquire 100% interest in the Lac Simard South property (the "Property") in the Province of Quebec, Canada, consisting of 120 mining claims covering approximately 20,349 acres8,235 hectares (see "Investment Summary" section for payment details). The Property has 24 pegmatites that were identified from satellite imagery. These pegmatites are located approximately 90km southwest from The NAL Lithium Processing Plant (A PiedmontSayona Joint Venture), which just announced it produced its first batch of spodumene concentrate (SC6)1, and 80km southwest of Val-D'or, a logistics hub for mining services. This acquisition increases Foremost's total lithium land holding to an aggregate of 63,380 acres25,649 hectares.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Uranium Energy Corp Appoints Trecia Canty to the Board of Directors

Uranium Energy Corp Appoints Trecia Canty to the Board of Directors

NYSE American: UEC

Uranium Energy Corp (NYSE American: UEC) (the "Company" or "UEC") is pleased to announce the appointment of Trecia Canty to the Company's Board of Directors.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
TSX Venture Exchange Stock Maintenance Bulletins

TSX Venture Exchange Stock Maintenance Bulletins

TSX VENTURE COMPANIES

LUCA MINING CORP. ("LUCA ")
[formerly Altaley Mining Corporation ("ATLY ")]
BULLETIN TYPE:  Name Change
BULLETIN DATE: March 17, 2023
TSX Venture Tier 1 Company

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×