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January 19, 2024 TheNewswire - Coquitlam, BC, Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce that further to its news release dated January 4, 2024, the TSX Venture Exchange has accepted the name change to " Nord Precious Metals Mining Inc. ".
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Coquitlam, BCCanada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt is pleased to announce that shareholders at the Annual and General Meeting held on October 31, 2023 voted in favour to change the Company's name to "Nord Precious Metals Mining Inc". The new name will better reflect the direction of the Company. The name change is subject to TSX Venture Exchange ("Exchange") approval.
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New discoveries of precious and battery metals and progress towards surfacing value for shareholders through a spinout of a potentially large nickel-copper-cobalt property in Quebec
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The property has many yet-to-be-drilled targets and prospective electromagnetic anomalies identified by an airborne geophysical survey.
Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the " Company " or " Canada Silver Cobalt ") is pleased to announce that it has commenced drilling at its Lowney-Lac Edouard property as part of the first phase of an exploration program targeting prospective areas identified previously in an airborne geophysical survey
The drilling is being conducted in the center and southern part of the 7,237-hectare property in areas where five electromagnetic anomalies were identified by a Geotech VTEM airborne geophysical survey conducted for Canada Silver Cobalt (see news releases May 24, 2022 and August 29, 2022).
The Lowney-Lac Edouard property is south of the past-producing nickel-copper Lac Edouard Mine and right next to a property where Rio Tinto, in a 2023 drilling program in the Savane area of a Midland Exploration Inc. property, discovered high-grade nickel with copper. Midland reported in an April 27, 2023 news release that Hole MDLD0001, drilled by Rio Tinto, intersected an interval grading 1.07% Ni and 0.13% Cu over 0.78 metres, from 101.87 to 102.65 metres. Midland also reported that grab samples taken by prospectors in the Savane area in 1995 yielded historical values of 1.80% Ni and 0.20% Cu. Another grab sample from a sub-cropping boulder also yielded grades of 1.98% Ni and 0.46% Cu about 250 metres north of the Savane showing (Source: SIGEOM NTS sheet 31P07; GM55352). This may not be representative of the mineralisation of Lowney-Lac Edouard.
The area, which has good road access and infrastructure, is near La Tuque in Central Quebec and is located north of the port of Trois Rivieres and approximately 100 km northwest of Quebec City. (See maps below.)
"We are excited to be following up on what we found in the VTEM geophysical survey. We had to limit our exploration activity this past summer due to forest fires in Quebec but now is the time to catch up and we are looking forward to seeing this property develop further," said Frank J. Basa, Chief Executive Officer.
The first phase is expected to involve 1,500 metres of drilling and the second phase, planned for 2024, dependent on drill results from the first phase, could include the testing of additional targets. The Company has engaged Laurentia Exploration, Multi Drilling Services and GoldMinds Geoservices for this campaign. Drilling in this first phase is limited to targets near existing logging roads where permits allow and the Company is awaiting permits needed for drilling in other areas of the property.
The Lowney-Lac Edouard property is one of 14 critical metals properties in Quebec acquired in late 2020 by Canada Silver Cobalt targeting nickel, copper, and cobalt mineralization in preparation for the significantly increased demand for the metals expected for the ongoing electrification programs planned by governments. (See news releases February 16 and April 20, 2021 and August 29, 2022 for descriptions of the Lowney-Lac Edouard property).
One of the 14 Quebec properties – the Graal property, where the Company drilled extensively and successfully in 2021 and 2022 – has been shown to have potentially a large area of near-surface, high-grade nickel-copper mineralization with cobalt byproduct and showings of platinum and palladium in a 6 km strike length as well as in other areas of the property. The Graal property is characterized by a large Bouguer gravity anomaly as is the case with Lowney-Lac Edouard. The Company plans to spin out the Graal Property into a new Company called Coniagas Battery Metals Inc. (See news release September 26, 2023.)
Note that the Figure 2 map below is updated to November 20, 2023 and the Figure 3 map is from March 2022.
Figure 1: Location of the Lowney-Lac Edouard and recently acquired Lac Guay properties
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Figure 2: Lowney-Lac Edouard property mineral claims
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Figure 3: Location of the Lowney-Lac Edouard property with adjacent properties
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Figure 4: Planned drill locations at Lowney-Lac Edouard South
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Qualified person
The technical information in this news release has been provided by Laurentia technical team and the content was reviewed and approved by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc., a m ember of Québec Order of Engineers and an independent qualified person in accordance with National Instrument 43- 101 standards.
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 16,000-metre drill program on the Graal property; (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle's high-grade Macassa Mine near Kirkland Lake, Ontario; and (3) the St. Denis-Sangster lithium project – 260 square kilometers of greenfield exploration ground with numerous pegmatites focussed 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
Or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.com
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. Canada Silver Cobalt Works Inc. does not undertake, and assumes no obligation, to update or revise, any such forward-looking statements or forward-looking information contained herein or in other communications to reflect new events or circumstances, except as may be required by law.
Copyright (c) 2023 TheNewswire - All rights reserved.
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Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the " Company " or " Canada Silver Cobalt ") announces that it is proposing to amend the terms of an aggregate 23,380,092 outstanding common share purchase warrants ("Warrants") by amending the exercise price to $0.06 per share
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Prices for cobalt sulfate jumped even more steeply, climbing 74 percent month-over-month.
“If the DRC government wanted to flex its muscles and show miners and refiners who really controlled global cobalt reserves, it would appear they’ve succeeded for now,” wrote Fastmarkets’ Rob Searle in an April market update.
“Standard grade cobalt metal prices soared to highs not seen since November 2023 in the space of two weeks,” he added.
While prices initially stabilized in mid-April on renewed optimism from China, where futures markets rallied, sentiment remained fragile heading into May. With the DRC ban still in place and little progress reported in negotiations, cobalt prices held steady between US$15 and US$16 per pound.
According to Fastmarkets, import data from China showed a surge in cobalt hydroxide deliveries in March and April, though volumes were expected to taper off through the summer.
“For now, the cobalt market appears to have stabilized, with prices high enough to encourage sellers to offer material out. Refiners in China appear to have ample stocks of feed to continue to supply contract volumes,” Searle noted in a May overview.
He continued: “This month, we expect to see a reduction in import volumes of cobalt hydroxide into China. This is expected to tighten refinery feed out to August, should the export ban end towards the later stages of June, as initially planned.”
After plunging to a nine year low in late January and then rebounding to multi-year highs by the end of Q1, cobalt prices began to ease in early June as supply uncertainty weighed on the market.
Despite the ongoing export ban in the DRC, trade data from China showed a significant influx of cobalt in April.
Imports of cobalt metal rose 60 percent month-on-month, driven largely by Indonesian supply, while exports surged 202 percent year-over-year.
"We are still seeing cobalt units arriving in China — or at least we were in May, which is the last month for which trade data were available,” said Olivier Masson, principal analyst at Fastmarkets, during a June presentation at the Lithium Supply and Battery Raw Materials conference.
According to Masson, China imported 75,000 metric tons of cobalt from the DRC in the first five months of 2025, along with another 22,000 metric tons in mixed hydroxide precipitate (MHP).
Of that MHP, 17,000 metric tons came from Indonesia. A region that is becoming increasingly important to the cobalt sector, especially as the DRC extended its export controls into September.
Although Indonesia is projected to increase its output, “the supply of cobalt from Indonesia is not going to be large enough to offset the loss of supply from the DRC,” said Masson.
Cobalt supply has surged over the past five years, with global mine production more than doubling from 140,000 metric tons in 2020 to 290,000 metric tons in 2024.
This rapid growth has far outpaced demand from the electric vehicle (EV) sector and other end users, resulting in a significant oversupply.
However, with the DRC -which accounts for roughly 70 percent of global cobalt production- extending its export limitations into the second half of the year mined supply is expected to register more muted gains in 2025.
“We expect mine supply growth to slow this year,” said Masson. “Prices are at multi-year lows, and yet, despite that, we still saw relatively strong growth numbers from major producers in the country.”
With exports stalled, inventories are building up in the DRC , a dynamic that may force operational adjustments.
“We might see miners who principally produce copper — and get cobalt as a by-product — start mining lower-grade cobalt ores in order to manage the inventories that are piling up,” Masson explained.
He added that cobalt sulfate demand slowed in 2024 due to a weaker-than-expected EV market in the West.
In response, Chinese refiners pivoted to producing cobalt metal instead, a shift that has significantly impacted global trade dynamics.
“Just like they did for nickel, Chinese refiners switched to cobalt metal production,” Masson said. “As a result, we’ve seen cobalt metal exports out of China jump by over 230 percent from January to May.”
Masson went on to explain: “This level of export growth is likely unsustainable. There’s limited feedstock coming from the DRC due to the export ban, and that will inevitably constrain Chinese production going forward.”
As the global market looks ahead, geopolitical dynamics are taking on greater significance.
The US, which is seeking to secure non-Chinese sources of critical minerals, is actively engaged in negotiations with the DRC. At the same time, it’s backing infrastructure development, including support for the Lobito Corridor , a rail and port route that would allow DRC-sourced cobalt to be exported via the west coast of Africa, bypassing China entirely.
“Currently, about 83 percent of the DRC’s cobalt exports go to China,” Masson said. “But both the DRC and the US are motivated to diversify those flows.”
However, the US still lacks sufficient domestic PCAM capacity, a key step in the battery supply chain, which could limit its ability to process cobalt independently in the short term.
Looking at market dynamics more broadly, Masson said Fastmarkets expects cobalt supply to remain “adequate” in the near term. But with inventories outside the DRC being steadily drawn down, tighter conditions could emerge later this year.
“By August or September, we could start to see the market tightening,” he said. “Our price forecast before the export ban was extended … but now, there’s potential for prices to remain elevated longer than previously expected.”
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
