Canada Silver Cobalt Works Pivots to "Purely Precious Metals Play" After Graal Project Spinout

Silver Investing
Canada Silver Cobalt Works Pivots to "Purely Precious Metals Play" After Graal Project Spinout

“We’re going to try and become a purely precious metals play. We have some astronomical silver grades,” Canada Silver Cobalt Works Chairman and CEO Frank Basa said.

Canada Silver Cobalt Works (TSXV:CCW) will focus on its precious metals assets after securing court approval to spin out its Graal property in Québec to its subsidiary Coniagas Battery Metals, according to Chairman and CEO Frank Basa.

Canada Silver Cobalt Works has already spent C$6 million on the Graal property, which Basa considers the most advanced among all 14 of the company's assets. The property hosts nickel, copper and cobalt.

“We did shallow drilling (at Graal). It’s between 10 to 30 meters of combined nickel, copper and a little bit of cobalt — about 1 percent and higher," Basa said. "We did some geophysical work on the property and it appears the greater values are at depth. We decided that we’ll spin out the asset to another shell (company) called Coniagas, and I think it will be a pure battery metals company."


With the spin out positioning Coniagas to become a supplier to the electric vehicle market, Canada Silver Cobalt Works is gearing up to focus on its precious metals projects.

“We have the approval from the exchange and the shareholders. We’re going to try and become a purely precious metal play. We have some astronomical silver grades,” Basa said, referring to the Castle East high-grade silver project in the Gowganda camp.

Massive native silver grades of up to 89,853 grams per metric ton — 2,621 ounces per metric ton — were intersected during the company’s surface drilling at the Castle East Robinson zone. Canada Silver Cobalt Works published the region’s first NI 43-101 resource estimate with 7.56 million ounces of silver in inferred resources.

Watch the full interview with Canada Silver Cobalt Works Chairman and CEO Frank Basa above.

Disclaimer: This interview is sponsored by Canada Silver Cobalt Works (TSXV:CCW). This interview provides information which was sourced by the Investing News Network (INN) and approved by Canada Silver Cobalt Works in order to help investors learn more about the company. Canada Silver Cobalt Works is a client of INN. The company’s campaign fees pay for INN to create and update this interview.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Canada Silver Cobalt Works and seek advice from a qualified investment advisor.

This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, 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. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.

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