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Through prospecting, mapping and new geophysics, CCW is poised to find additional targets for unlocking mineralization.
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Canada Silver Cobalt Works
Overview
Canada Silver Cobalt Works (TSXV:CCW) focuses on acquiring and redeveloping past-producing properties in pro-mining jurisdictions, with a portfolio of high-grade silver and cobalt properties with historic production in the Gowganda and Cobalt mining camps of Northern Ontario. The company also has 14 battery metals (nickel, copper, cobalt) properties in northern Quebec.
Silver should be top of mind for investors interested in renewable energy. The precious metal has long been prized as a store of value, but its conductive properties make it ideal for electronics — including emerging clean technologies. Silver and cobalt are essential metals in renewable energy technology. Cobalt is used in three main types of lithium-ion electric car batteries, while silver is used in 90 percent of crystalline silicon photovoltaic cells, a solar panel component.
Many analysts also highlight silver’s vital role in solar projects. The European Union recently announced a mandate for new solar panels on public and commercial buildings, which alone will contribute significantly to silver demand.
Canada Silver Cobalt’s wholly-owned flagship silver project - Castle East - is currently in the advanced exploration stages with the potential to play a significant role in filling the anticipated increased demand for silver. The project includes both the past-producing Castle Mine and an exceptional high-grade, silver deposit with cobalt by-product known as Castle East. Canada Silver Cobalt is presently working towards updating the project’s resource estimate, completing environmental baseline studies, preparing for its preliminary economic assessment and leveraging machine learning to identify drill targets. The company has begun work at Castle East with a new, first-stage stripping plan to follow up on shallow gold and silver mineralization and has conducted an airborne multi-parameter airborne survey system (M-PASS) developed by ALS GoldSpot Discoveries.
The company’s portfolio also includes the Eby-Otto gold project, the Graal battery metals project and the Beaver/Violet silver-cobalt projects. The tailings and waste rock piles at both the Castle and Beaver projects represent the potential for near-term revenue generation for Canada Silver Cobalt. Historic mining methods were not as efficient as today’s technologies, which provides an opportunity for the company to leverage substantial amounts of metals that may still remain in the waste piles. An updated NI 43-101-compliant technical report dated April 6, 2023 was filed by the company on SEDAR for its Graal nickel and copper project.
Canada Silver Cobalt also expanded its greenfield lithium holdings between Case and Stimson Townships in the Cochrane District, Ontario, by staking new claims for a total holding of 230 square kilometers. The claim package is contiguous to Power Metal's Case Lake Lithium Property where the West Joe Dyke and Main Dyke areas revealed some significant lithium grades, such as 1.58 percent lithium oxide (Li2O) over 15 meters in PWM-22-134. An airborne geophysical is being conducted at the property.
The Re-2Ox Process Flow Chart
Canada Silver Cobalt aims to create a suite of cobalt salts (powder) products for potential customers through a unique 100-percent-owned hydrometallurgical process called Re-2OX. Designed for high recoveries of multiple metals and elements from all feeds with varying chemistries, the Re-2OX process has taken on fresh importance in light of the increasing demand for cobalt and compelling opportunities in the battery and renewable energy sectors.
The company’s fully certified Temiskaming Testing Labs facility, which has the dual function of being an assay laboratory and a bulk sampling facility, is close to both the Castle and Beaver properties.
Canada Silver Cobalt CEO Frank Basa developed the Re-2OX in conjunction with the National Research Council, Canada’s premier scientific research organization. Basa has more than 35 years of global experience in mining and development. He is joined by a management team with combined expertise in corporate administration, international finance and geology.
Company Highlights
- Canada Silver Cobalt Works is an exploration and development company focusing on silver, cobalt and other battery metals to serve current and future clean energy needs.
- The company has 100 percent ownership of several formerly producing properties, including the Castle Mine in the Gowganda mining camp, and the Beaver and Violet silver-cobalt mines in the Cobalt mining camp. The company’s primary goal is to use modern mining techniques to resume underground mining at these properties.
- Canada Silver Cobalt has near-term revenue generation potential in tailings and waste rock piles. Preliminary metallurgical testing returned excellent silver and cobalt recoveries and concentrate grades.
- Castle Mine's historic production of 9.5 million ounces (Moz) of silver and 300,000 lbs of cobalt; grade averaged 25 oz/t silver (777 g/t silver) from 1923 to 1930, and 26 oz/t silver (808 g/t silver) from 1979 to 1989.
- Canada Silver Cobalt’s proprietary Re-20X process aims to directly supply manufacturers with valuable cobalt products to aid clean energy production.
- The company expanded its Greenfield Lithium holdings between Case and Stimson Townships in the Cochrane District, Ontario, by staking new claims for a total holding of 230 square kilometers..
Key Projects
Castle Mine Project
The Castle Mine project, which includes Castle East, covers a 78-square-kilometer property located in the historic Gowganda mining camp and 85 kilometers northwest of Cobalt, the center of the historic cobalt-silver mining camp in Ontario, Canada. The company is currently working towards completing environmental baseline studies, working towards its preliminary economic assessment and identifying drill targets by leveraging machine learning technology.
Project Highlights:
- Historic Silver Production: The Canada Silver Cobalt mine project includes the former silver and cobalt mine, which produced 300,000 lbs of cobalt and 9.5 Moz of silver. Historic underground ore grades averaged 25 oz/t silver (777 g/t silver) during production years 1923 to 1930, and 26 oz/t silver (808 g/t silver) between 1979 and 1989.
- Underexplored Cobalt Asset: Despite the past silver production at Castle, the property remains mainly underexplored and is highly prospective for hosting significant high-grade underground deposits. The veins in the cobalt camp are primarily cobalt veins with varying amounts of silver. Mining in the past focused on the veins with high-grade silver, while low-grade silver veins were ignored even if they had high-grade cobalt. Therefore, the area today has large amounts of cobalt and silver remaining with opportunity for profit.
- Promising Geological Features: Two geological trends have been identified on the property, including a north-south trending Nipissing diabase intrusive, which is the typical host rock for silver-cobalt-nickel deposits in the area; and the potential gold trend along the east-west trending Bloom Lake Fault. Infrastructure includes year-round access roads, water, diesel power and three adits.
Eby-Otto Gold Project
The company’s highly prospective Eby-Otto gold asset covers 1,000 hectares of exploration properties in a prolific high-grade gold district in Northern Ontario. The region has produced more than 24 Moz of gold in the past 100 years, creating tremendous blue-sky potential for the asset.
Project Highlights:
- Encouraging Strike Mineralization: The asset contains an identified 2-kilometer strike length with multiple, strongly altered and mineralized quartz veins outcropping at surface. The type of mineralization is typical of gold-bearing veins within the district.
- Completed Exploration Survey: A recent geophysical drone mag survey campaign was completed at a 25-meter line spacing, creating valuable data to inform future campaigns. Additional geophysical work is being done.
- Assessment Underway to Prioritize Drill Targets: Canada Silver Cobalt is presently completing a comprehensive geological assessment based on geological mapping, stripping key outcrops, channel sampling, and additional exploration assays to identify priority drilling targets.
Graal Battery Metal Project
Canada Silver Cobalt’s Graal project covers 6,113 hectares in Quebec and shows potential to become a world-class battery metals camp. An identified 6-kilometer strike length mineralization indicates near-surface copper, nickel and cobalt.
Project Highlights:
- Promising Drill Intersections: A recent drill campaign intersected massive and semi-massive sulfides in most drill holes. Results include up to 2.08 percent nickel over 0.5 meters, 3.75 percent copper over 0.6 meters, and the additional presence of cobalt, platinum and palladium. Samples are pending lab results for additional details.
- Significant Historic Drilling: Historical drilling has previously indicated a potential target of near-surface tonnage of 30 to 60 million tonnes with a grade range of 0.60 to 0.80 percent nickel, 0.30 to 0.50 percent copper and 0.10 to 0.15 percent cobalt.
A proposed spin-out of the Graal property in Quebec into a separate public company called Coniagas Battery Metals Inc. was approved by the company’s board of directors. Approximately 37 percent of the shares of Coniagas will be distributed to the shareholders of Canada Silver Cobalt by way of a special dividend, consisting of approximately 11.7 million shares, each accompanied by one-half of a common share purchase warrant.
Beaver Silver-Cobalt Project
The Beaver Silver-Cobalt project is located in Ontario’s historic cobalt mining camp, adjacent to the former Timiskaming silver mine and approximately 80 kilometers southeast of the past-producing Castle mine. The project includes a former producer, the Beaver mine, which produced 7.1 Moz of silver and 139,472 lbs of cobalt averaging 1.4 lbs per tonne from 1907 to 1940.
Project Highlights:
- Excellent Historical Waste Analysis: Sampling of historical waste rock and tailings at Beaver in 2013 returned 7.98 percent cobalt, 3.98 percent nickel, and 1,246 g/t silver. Canada Silver Cobalt is conducting metallurgical testing to determine if the silver and cobalt remaining in the tailings and waste rock can be effectively recovered using modern technologies.
- Violet Silver-Cobalt Mine: Canada Silver Cobalt also holds the formerly producing Violet Silver-Cobalt mine located near the Beaver property in the cobalt mining camp. The Violet mine has historically provided 897,000 ounces of silver. The company plans to conduct additional exploration to expand known mineralizations.
Sangster - St. Denis Properties
The St. Denis lithium exploration project covers a land area of 26,372.55 hectares with 1,648.96 under option. Characterized by pegmatitic outcrops identified at the surface with historic drilling featuring pegmatite intercepts nearby, the project is adjacent to Power Metal’s Case Lake Lithium LCT property, which shows significant lithium grades such as 1.86 percent lithium oxide over 19 meters in PWM-22-135.
Management Team
Frank J. Basa - Chairman and CEO
Frank Basa has more than 35 years of global experience in mining and development as a professional hydro-metallurgical engineer with expertise in milling, gravity concentration, flotation, leaching and refining of silver, cobalt, gold and other metals. He is a member of the Professional Engineers of Ontario and a graduate of McGill University. Basa has been the chairman, CEO and president of Granada Gold Mine Inc. since June 18, 2004.
Matthew Halliday - President, COO and Director
Matthew Halliday graduated from Dalhousie University in 2007, where he majored in Earth sciences then spent the next 13 years in exploration and as a resource geologist with Kirkland Lake Gold, First Cobalt and SGS Geostat.
Robert Suttie - Chief Financial Officer
Robert Suttie specializes in management advisory services, accounting and financial disclosure. Suttie also serves as the chief financial officer for a number of other junior mining and technology companies listed on the TSX-V and CSE.
Dianne Tookenay - Director
Dianne Tookenay holds a certificate in mining law from Osgoode Hall Law School, York University, a joint master of public administration from the University of Manitoba, a bachelor of administration from Lakehead University, and Native Band management and Indian economic development diplomas from Confederation College Applied Arts and Technology. Tookenay’s experience, knowledge and deep roots within the First Nation communities will continue to add significant value to Castle’s development efforts over the coming years.
Daniel Barrette - Director
Daniel Barrette possesses over 15 years of experience in the mining industry, including substantial experience in managing and restructuring mining companies. Barrette was instrumental in the restructuring and development of SearchGold Resources Inc. from 2011 until its successful RTO by Ubika Corp in 2013, including a $54 million financing. He has assisted public and private mining companies in acquiring mineral properties in the Democratic Republic of Congo, including claim staking, and establishing and developing business in the DRC, where Barrette has an extensive network of strategic contacts. Prior to SearchGold, he was COO for Gilla Inc. until its RTO with Snoke Distribution Canada Ltd. and also president and CEO of Affinor Resources Inc.
Ronald Goguen, Sr. - Director
Ronald Goguen has more than 40 years of experience in the mining exploration industry. He served as president and CEO of Major Drilling Group International from 1980 to 2000 and as a director of Northeast Bank from 1990. He was named Atlantic Canada's Entrepreneur of the Year in 1995. He is currently chairman of Colibri Resource and CEO of ONTOP Capital.
Tina Whyte - Corporate Secretary
Tina Whyte brings over 20 years of experience in the corporate and securities industry. Her expertise covers corporate governance, continuous disclosure, financing transactions and regulatory filings and compliance.
Canada Silver Cobalt Creates CRUCIBLE, a Compelling Company Forum for Shareholders and Investors
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Through direct messaging to our shareholders and investors, https://www.crucible.live defines the corporate strategy and goals
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Canada Silver Cobalt Reprices and Extends Warrants
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Coquitlam, BC TheNewswire - August 1, 2023 - Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt") announces that it intends to reprice an aggregate of 12,261,327 outstanding common share purchase warrants ("Warrants") issued in two tranches pursuant to a private placement that closed on September 1, 2020. The Warrants have an exercise price of $0.65 and two expiry dates one being August 14, 2023 and one being September 1, 2023. The Company will amend the Warrant exercise price to $0.08 per share and extend the Warrant expiry date by two years to August 14, 2025 and September 1, 2025.
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Canada Silver Cobalt Update on Gold Prospecting; Multiple Samples Up To 3.2 grams per tonne Gold on Surface
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Through prospecting, stripping and new geophysics, CCW is finding additional targets for unlocking mineralization in addition to the known silver and cobalt at the former high-grade Castle Silver Mine
Coquitlam, BC TheNewswire - July 20, 2023 - Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to provide an update on its gold prospecting activities in the Miller Lake area at the Castle Mine property. The Company has made significant discoveries in its surface exploration efforts, and the latest findings with multiple samples above 1 gram per tonne (gt) gold and ranging up to 3.2 gt gold are highly encouraging at surface.
"We are happy we have these grab samples in a timely manner with a 3-day gold assay turn around from Temiskaming Testing Labs. They are taken systematically over the stripping area and they are very encouraging. We now want to see what we can find in channel samples so we can model some widths and we are excited to see the outcrop mapping to incorporate into our geological database at Castle," said Matthew Halliday, P.Geo., President and COO.
The discovery of gold at the surface at the past-producing high-grade silver-cobalt Castle Mine is in addition to previously reported results of gold sampling and drill intercepts at the property (see news release July 5, 2023 ) as well as the discovery of new major silver-cobalt vein structures and the publication of a resource estimate (see details in the About section below).
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During the recent stripping process in the Miller Lake area, a section measuring approximately 15 meters by 12 meters at the widest points was examined. The lithology in the area consists of mafic volcanic massive flow with weak chlorite and albite alteration at the extremities. The main part of the area exhibits iron, carbonate, and silicification alteration with rusty gossan. Notably, there is about 1 percent quartz veining present.
Across the outcrop, pyrite mineralization is evident, ranging from 1 percent to 2 percent and locally reaching up to 5 percent to 7 percent. This pyrite is associated with stronger alteration and provides additional evidence of mineralization potential.
A total of 22 rock samples were collected from the site, along with 2 QAQC samples. Significant gold values from the samples are as follows:
Sample Number Grams Per Tonne Gold
FW000387 3.20
FW000388 2.20
FW000389 1.40
FW000376 2.14
FW000377 1.38
FW000391 1.37
FW000392 1.10
FW000394 2.97
FW000395 1.08
It is worth noting that multiple samples have gold values above 1 gram per tonne gold, with one sample even reaching 3.2 gram per tonne gold.
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The next step in the exploration process involves channel sampling, which is scheduled to take place during the week of July 23rd. This additional data collection will provide a more comprehensive understanding of the mineralization potential in the area.
Click Image To View Full Size
Furthermore, there are interesting findings in proximity to the current stripping area. Approximately 50m north of the stripping location, there is an outcrop with quartz veining and associated iron, carbonate alteration, and pyrite mineralization. This new discovery presents a potential new stripping target to expand on the known mineralized zone.
Moreover, about 80 meters east of the current location, prospecting efforts revealed similar but less extensive pyrite mineralization and alteration. Nonetheless, the grab samples from this area contained anomalous low gold grades ranging from 0.1 to 0.28 grams per tonne gold.
The gold zone's potential appears to be open in all directions, presenting the possibility of future drill targets.
Canada Silver Cobalt remains committed to leveraging advanced technology in its exploration efforts. The recently initiated M-PASS survey, conducted by ALS GoldSpot, is undergoing data processing and will be integrated with the existing dataset. This survey will facilitate machine learning targeting, enhancing the identification and targeting of new gold and silver mineralization zones. (See news release June 28, 2023 .)
"We are excited about the progress we have made in our prospecting efforts, which have revealed promising results and demonstrated substantial mineralization potential in the Miller Lake area," said Mr. Halliday. "With the resumption of our stripping program, we look forward to expanding our operations and further exploring this newfound location. Additionally, the implementation of the M-PASS survey underscores our commitment to leveraging advanced technologies for successful exploration."
Canada Silver Cobalt continues to prioritize responsible and sustainable mining practices while striving for excellence in resource extraction. The Company's objective is to maximize shareholder value through the discovery and development of high-grade gold and silver deposits.
The company will keep stakeholders updated on its progress as it moves forward with channel sampling and other exploration activities. For further information and updates, please visit the Canada Silver Cobalt website.
Qualified person
The technical information in this news release was approved by and prepared under the supervision of Mr. Matthew Halliday, P.Geo., (PGO), President and COO of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.
Quality Control and Reporting Protocols
The 2023 assay results are from Temiskaming Testing Laboratories (TTL) in Cobalt, Ontario. The field program, quality assurance, quality control (QAQC), and interpretation of results are performed by qualified persons employing procedures consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QAQC purposes for this program in addition to the lab QAQC.
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; 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 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
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.
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Canada Silver Cobalt Expands Airborne Survey for ALS GoldSpot's AI Drill Targeting to the St. Denis and Sangster Lithium Project
The survey is an important step in collecting robust data about this underexplored lithium prospect where we intend to follow up with field work this summer.
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (FSE: 4T9B) (the "Company" or "Canada Silver Cobalt"), which is developing several precious metal and battery metals properties in Ontario and Quebec, is pleased to announce the expansion of its airborne geophysical survey program to also include the St. Denis and Sangster Lithium Project located in the Cochrane District in northern Ontario.
The Company completed a helicopter Multi-Parameter Airborne Survey System (M-PASS) at the silver-cobalt Castle Property in the week of June 25, 2023 (see news release June 28, 2023) and then proceeded to also complete the survey at the prospective lithium Sangster Block. The St. Denis Block is on hold for now due to forest fires and will be flown as soon as it is safe to return to the site.
"We're excited to have the airborne survey completed at Castle and Sangster since it will provide important geophysical data that we need for the ALS GoldSpot's AI and machine learning drill targeting aimed at unlocking the extensive mineralization potential of these properties," stated Matt Halliday, P.Geo., President and COO. "We're also looking forward to completing the airborne survey at St. Denis as soon as conditions allow. The pegmatite-rich properties are in a region that has typically been underexplored and represent attractive greenfield projects with significant lithium-cesium-tantalum (LCT) exploration potential."
St. Denis and Sangster Lithium Project
"Since we acquired the property earlier this year, we have been compiling as much data as possible from various sources for the St. Denis and Sangster blocks. The M-PASS survey will give us valuable new data to use for our planned field season this summer and to begin using machine-learning targeting techniques to hone in on potential areas for pegmatites that contain significant LCT mineralogy," said Mr. Halliday.
"This is a really exciting area. Our neighbours have had some great success (see below), and we think we have an excellent land package and are keen to deliver the same results. We're particularly interested in examining the Sangster Block area containing multiple pegmatites mapped by Noranda in 1995 that includes a 130m wide by 1 km long zone interpreted by Noranda as pegmatite."
The 26,373-hectare St. Denis and Sangster project (including 24,036 hectares in the St-Denis Block and 2,337 hectares in the Sangster Block) is one of the largest land holdings in the emerging Case Lake LCT pegmatite district of Northeastern Ontario. The property is strategically positioned over an ideal geological environment for pegmatite mineralization, as demonstrated by a number of observations of pegmatite in outcrop and drill core in the historic assessment work files and government mapping. The project is supported by year-round ease of access, proximity to services and suppliers in the mining communities of Timmins and Cochrane, and location along strike to a known LCT (lithium-cesium-tantalum) pegmatite occurrence (Case Lake LCT pegmatite swarm).
The St. Denis Block is adjacent to, and the Sangster Block is located 62 kilometers northwest of, the Case Lake lithium-cesium pegmatite swarm (claims currently held by Power Metals Corp., "Power Metals"). Power Metals has identified significant lithium and cesium grades in spodumene and pollucite rich pegmatites at the West Joe Dyke and Main Dyke areas, including 1.58 % Li2O (lithium oxide) over 15.0 m in drill hole PWM-22-134 (see Power Metals Corp News Release September 8, 2022) and 6.74% Cs2O over 5.0 m, 11.0 to 16.0 m in drill hole PWM-18-126.
Canada Silver Cobalt's Sangster Block covers a similar geological environment to that of Power Metals' Case Lake lithium-cesium property, and the St-Denis Main block covers ground west along strike of the Case Lake property.
Canada Silver Cobalt remains dedicated to pushing the boundaries of exploration and unlocking the full value of its mineral assets. The Company looks forward to the upcoming ground exploration activities in the St. Denis and Sangster blocks, which hold great promise for further discoveries.
For more information and maps, see Canada Silver Cobalt news release April 20, 2023.
Update on the Castle Project
The M-PASS airborne survey, developed in collaboration with ALS GoldSpot Discoveries Ltd. ("ALS GoldSpot"), represents a significant advancement in the Company's exploration process aimed at identifying new high-grade silver-cobalt vein structures. By integrating state-of-the-art AI and machine-learning techniques, the survey provides valuable data to optimize drill targeting at the Castle property, complementing the already impressive high-grade silver-cobalt vein discoveries made thus far.
Mr. Halliday stated, "This is an important step for the Company as it will provide the additional data we need for high-quality AI and machine-learning drill targeting at the Castle property. The Castle property holds a wealth of historical drilling, geophysics, and geochemistry data, and the M-PASS survey will help unlock the underexplored potential of the area, prioritizing drilling activities and uncovering new high-grade structures."
The airborne survey, conducted during the week of June 25th, covered a total area of 32.8 square kilometers around the Castle Mine, encompassing Canada Silver Cobalt's southern property in the Miller Lake Basin. Leveraging cutting-edge technology developed by ALS GoldSpot, including a triaxial magnetic gradient magnetic/VLF platform, a 2048 channel radiometric sensor, high-precision LiDAR sensor, and high-resolution cameras, the M-PASS platform optimizes exploration workflows by employing computational methods like multivariate analysis and machine learning. This integration of advanced technologies minimizes risks associated with exploration targeting and enhances the efficiency and effectiveness of resource identification.
By combining the advanced AI and machine-learning techniques of the M-PASS survey with on-the-ground exploration efforts, Canada Silver Cobalt aims to maximize the efficiency and effectiveness of its exploration program. The Company is dedicated to uncovering new discoveries and expanding its resource base while maintaining a strong commitment to sustainable and responsible mining practices.
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 in accordance with National Instrument 43-101.
About ALS GoldSpot Discoveries Ltd.
ALS GoldSpot Discoveries Ltd. is a Canada-based group of expert geoscientists and data scientists who specialize in leveraging computational methods, including multivariate analysis and machine learning, to provide innovative solutions to the mining and exploration industry. ALS GoldSpot's proprietary technology and domain expertise enable their clients to navigate complex geological challenges effectively.
In today's data-rich mining and exploration landscape, the true value of data lies in its effective integration into decision-making processes. ALS GoldSpot's team of full-spectrum geoscientists and data scientists possess unrivaled expertise in mineral exploration and mining, combining proprietary technology with their in-depth knowledge. They provide end-to-end services to clients and partners, addressing big data challenges by integrating underutilized data to gain deeper insights into resource property potential.
As a collective of domain experts in geoscience and data science, ALS GoldSpot leverages proprietary artificial intelligence (AI) and machine learning (ML) algorithms to deliver customized solutions to mining and exploration clients. Their unique processes are specifically designed to enhance exploration, extraction, and processing of mineral resources.
Machine learning plays a pivotal role in mineral exploration and mining, as it enables the creation of analytical models that yield consistent, repeatable, and objective results, empowering informed decision-making. Moreover, ML algorithms have the potential to uncover unconventional or "hidden" insights, extracting patterns, relationships, and trends from vast amounts of data. The upcoming geophysical program at the Castle site will provide the essential data required for high-quality machine learning analysis.
By collaborating with ALS GoldSpot and deploying the advanced M-PASS technology, Canadian Silver Cobalt demonstrates its commitment to employing state-of-the-art methodologies for efficient and data-driven exploration. The joint efforts of the Canada Silver Cobalt and ALS GoldSpot promise to unlock new possibilities and drive significant advancements in the mineral exploration and mining sector.
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; 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 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
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/172906
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Li-Cycle and Glencore Accelerate Operational Plans for European Recycling Hub
Two-phase approach to the Portovesme Hub project in Sardinia, Italy initiated to fast-track the production of lithium carbonate to the first half of 2024
Phase 1 designed to process up to 11,000 tonnes of black mass annually, in advance of the full-scale Phase 2 project, planned for 50,000 to 70,000 tonnes of expected annual processing capacity
The capital efficient project further strengthens Li-Cycle's first mover advantage in Europe
Portovesme Hub will support EU target of recycling at least 15% of critical raw materials (CRM) consumption by 2030, as defined in the CRM Act
Li-Cycle Holdings Corp. (NYSE: LICY) ("Li-Cycle" or the "Company"), a leading global lithium-ion battery resource recovery company, and Glencore International AG, a wholly-owned subsidiary of Glencore plc (LON: GLEN) ("Glencore"), a leading producer, recycler, and marketer of nickel and cobalt which is required for the production of lithium-ion batteries, announced plans for a two-phase approach to the Portovesme Hub project in Sardinia, Italy to expedite the production of battery-grade lithium carbonate.
Phase 1 is designed to process up to 11,000 tonnes of black mass annually and, subject to receipt of all final regulatory approvals and definitive agreements, is expected to start operations in the first half of 2024, accelerating the recovery of lithium carbonate and strengthening Li-Cycle's first-mover advantage in Europe. The capital efficient Phase 1 project is expected to produce up to 1,500 tonnes of lithium carbonate, as well as up to 3,000 tonnes of contained nickel and up to 500 tonnes of contained cobalt per year.
The previously announced Portovesme Hub project plan (now " Phase 2 ") remains the same. The Company expects the Phase 2 facility to have 50,000 to 70,000 tonnes of black mass processing capacity, and to produce up to 16,500 tonnes of lithium carbonate, as well as up to 18,000 tonnes of contained nickel and 2,250 tonnes of contained cobalt per year. Phase 2 is expected to be the final long-term plan and capacity for the facility. The Portovesme Hub is being designed to be able to process all forms of lithium-ion based black mass, including lithium iron phosphate (LFP) materials.
"We are excited to accelerate our plans with Glencore to establish clean, post-processing refining capacity for recycled lithium-ion batteries in Europe," said Tim Johnston, Li-Cycle's Executive Chair and co-founder. "Phase 1 of the Portovesme Hub is expected to come online at unprecedented speed and to expedite the pathway to create the largest source of sustainable recycled battery-grade products on the continent to support a circular lithium-ion battery supply chain. Li-Cycle continues to strengthen its first mover advantage in Europe and support our growing commercial customer base in qualifying for European Union regulations with our local, sustainable recycled content."
"The development of the Hub with Li-Cycle at Glencore's Portovesme site is progressing well, underpinned by strong endorsement from multiple internal and external stakeholders," said Kunal Sinha, Global Head of Recycling for Glencore. "The project, combined with our existing footprint in the primary supply, as well as recycling of battery metals, is a core tenet of our ambition to become the circularity partner of choice with Li-Cycle for the European battery and EV industry. Specifically, this multi-phase approach to the development of the Hub allows us to start to close the loop for battery materials in Europe as early as the first half of 2024, while we work towards designing and building Phase 2."
The black mass processed at Phase 1 and Phase 2 is expected to be supplied from Li-Cycle's European Spoke recycling network and Glencore's commercial network. This strategic collaboration aims to support the creation of a local, closed-loop battery supply chain. Notably, Li-Cycle has recently commenced operations at its first European Spoke in Germany, the largest Spoke in the Company's portfolio and one of the largest facilities of its kind on the European continent.
Phase 1 and Phase 2 will utilize existing infrastructure and equipment at Glencore's existing Portovesme metallurgical complex and leverage Li-Cycle's innovative hydrometallurgical process to produce critical battery materials, including nickel, cobalt and lithium, from recycled battery content. By leveraging the existing Portovesme facility, development plans are expected to be expedited with lower capital costs.
Li-Cycle and Glencore anticipate forming a 50/50 joint venture for the Portovesme Hub , which also contemplates competitive long-term financing from Glencore to fund Li-Cycle's share of the capital investment. For Phase 1, Li-Cycle will provide technical expertise and oversight, with Portovesme and other technical and operational experts from the wider Glencore group directing the build and operation. The Definitive Feasibility Study for Phase 2 is progressing well and is scheduled to be completed by mid-2024. Subject to a final investment decision and receipt of all necessary regulatory approvals, the full-scale Phase 2 Portovesme Hub is expected to advance to construction and begin commissioning in late 2026 to early 2027.
About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is a leading global lithium-ion battery resource recovery company and North America's largest pure-play lithium-ion battery recycler, with a rapidly growing presence across Europe. Established in 2016, and with major customers and partners around the world, Li-Cycle is on a mission to recover critical battery-grade materials to create a domestic closed-loop battery supply chain for a clean energy future. The Company leverages its innovative, sustainable, and patent-protected Spoke & Hub Technologies™ to provide a safe, scalable, customer-centric solution to recycle all different types of lithium-ion batteries.
Our Spoke & Hub Technologies™ are based on a hydrometallurgical process that provides an environmentally friendly and cost-effective alternative to pyrometallurgical processing and traditional mining methods. At our Spokes, or pre-processing facilities, we recycle battery manufacturing scrap and end-of-life batteries to produce black mass, a powder-like substance which contains a number of valuable metals, including lithium, nickel, and cobalt. At our Hubs, or post-processing facilities, we will process black mass to produce critical battery-grade materials, including lithium carbonate, nickel sulphate, and cobalt sulphate. For more information, visit https://li-cycle.com/
Forward-Looking Statements
Certain statements contained in this press release may be considered "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933, as amended, Section 21 of the U.S. Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Forward-looking statements may generally be identified by the use of words such as "believe", "may", "will", "continue", "anticipate", "intend", "expect", "should", "would", "could", "plan", "potential", "future", "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. Forward-looking statements in this press release include but are not limited to statements about: the plans for a significant European recycling Hub in Portovesme, Italy; the timeline for achievement of various milestones in connection with Phase 1 and Phase 2 of the Portovesme Hub project, including the receipt of all relevant regulatory approvals, the start of Phase 1, the completion of the Definitive Feasibility Study for Phase 2, and the start of Phase 2; the expected capacity to process black mass and produce lithium carbonate, contained nickel and contained cobalt at both Phase 1 and Phase 2 of the project; the expectation that the Portovesme Hub will support EU target of recycling at least 15% of CRM consumption by 2030; the expectation that the project will strengthen Li-Cycle's first mover advantage in Europe; the expectation that the black mass processed at Phase 1 and Phase 2 will be supplied from Li-Cycle's European Spoke recycling network and Glencore's commercial network; and the expected formation of a 50/50 joint venture by Li-Cycle and Glencore for the Portovesme Hub. These statements are based on various assumptions, whether or not identified in this communication, including but not limited to assumptions regarding the timing, scope and cost of Li-Cycle's projects; the processing capacity and production of Li-Cycle's facilities; Li-Cycle's ability to source feedstock and manage supply chain risk; Li-Cycle's ability to increase recycling capacity and efficiency; Li-Cycle's ability to obtain financing on acceptable terms; Li-Cycle's ability to retain and hire key personnel and maintain relationships with customers, suppliers and other business partners; general economic conditions; currency exchange and interest rates; compensation costs; and inflation. There can be no assurance that such estimates or assumptions will prove to be correct and, as a result, actual results or events may differ materially from expectations expressed in or implied by the forward-looking statements.
These forward-looking statements are provided for the purpose of assisting readers in understanding certain key elements of Li-Cycle's current objectives, goals, targets, strategic priorities, expectations and plans, and in obtaining a better understanding of Li-Cycle's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes and is not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability.
Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Li-Cycle, and are not guarantees of future performance. Li-Cycle believes that these risks and uncertainties include, but are not limited to, the following: Li-Cycle's inability to economically and efficiently source, recover and recycle lithium-ion batteries and lithium-ion battery manufacturing scrap, as well as third party black mass, and to meet the market demand for an environmentally sound, closed-loop solution for manufacturing waste and end-of-life lithium-ion batteries; Li-Cycle's inability to successfully implement its global growth strategy, on a timely basis or at all; Li-Cycle's inability to manage future global growth effectively; Li-Cycle's inability to develop the Rochester Hub, and other future projects including its Spoke network expansion projects in a timely manner or on budget or that those projects will not meet expectations with respect to their productivity or the specifications of their end products; Li-Cycle's failure to materially increase recycling capacity and efficiency; Li-Cycle may engage in strategic transactions, including acquisitions, that could disrupt its business, cause dilution to its shareholders, reduce its financial resources, result in incurrence of debt, or prove not to be successful; one or more of Li-Cycle's current or future facilities becoming inoperative, capacity constrained or if its operations are disrupted; additional funds required to meet Li-Cycle's capital requirements in the future not being available to Li-Cycle on acceptable terms or at all when it needs them; Li-Cycle expects to continue to incur significant expenses and may not achieve or sustain profitability; problems with the handling of lithium-ion battery cells that result in less usage of lithium-ion batteries or affect Li-Cycle's operations; Li-Cycle's inability to maintain and increase feedstock supply commitments as well as securing new customers and off-take agreements; a decline in the adoption rate of EVs, or a decline in the support by governments for "green" energy technologies; decreases in benchmark prices for the metals contained in Li-Cycle's products; changes in the volume or composition of feedstock materials processed at Li-Cycle's facilities; the development of an alternative chemical make-up of lithium-ion batteries or battery alternatives; Li-Cycle's revenues for the Rochester Hub are derived significantly from a single customer; Li-Cycle's insurance may not cover all liabilities and damages; Li-Cycle's heavy reliance on the experience and expertise of its management; Li-Cycle's reliance on third-party consultants for its regulatory compliance; Li-Cycle's inability to complete its recycling processes as quickly as customers may require; Li-Cycle's inability to compete successfully; increases in income tax rates, changes in income tax laws or disagreements with tax authorities; significant variance in Li-Cycle's operating and financial results from period to period due to fluctuations in its operating costs and other factors; fluctuations in foreign currency exchange rates which could result in declines in reported sales and net earnings; unfavorable economic conditions, such as consequences of the global COVID-19 pandemic; natural disasters, unusually adverse weather, epidemic or pandemic outbreaks, cyber incidents, boycotts and geo-political events; failure to protect or enforce Li-Cycle's intellectual property; Li-Cycle may be subject to intellectual property rights claims by third parties; Li-Cycle's failure to effectively remediate the material weaknesses in its internal control over financial reporting that it has identified or if it fails to develop and maintain a proper and effective internal control over financial reporting. These and other risks and uncertainties related to Li-Cycle's business are described in greater detail in the section entitled "Risk Factors" and "Key Factors Affecting Li-Cycle's Performance" in its Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission and the Ontario Securities Commission in Canada. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Actual results could differ materially from those contained in any forward-looking statement.
Li-Cycle assumes no obligation to update or revise any forward-looking statements, except as required by applicable laws. These forward-looking statements should not be relied upon as representing Li-Cycle's assessments as of any date subsequent to the date of this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230918660608/en/
Investor Relations
Nahla A. Azmy
Sheldon D'souza
investors@li-cycle.com
Media
Louie Diaz
media@li-cycle.com
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HTM Acquires Historical Nickel Sulphide Project - Canada
HIGHLIGHTS
The Company has significantly increased its exposure to nickel sulphides and copper through the following acquisition and option agreement:
Norpax Nickel Sulphide Deposit:
- A historical non-JORC compliant resource of 1,010,000 tonnes 1.2% Ni and 0.5% Cu1.*
*The historical estimates are not reported in accordance with the JORC codes. A competent person has not done sufficient work to classify the historical estimates as a mineral resource in accordance with JORC Code. It is uncertain that following further exploration work that the historical estimates will be able to be reported as mineral resources within the JORC Code. - The deposit lies ~1 km west of HTM’s existing project, Werner Lake, and along the Werner Lake Belt.
- The Norpax nickel mineralisation sits on a known mineralised fault zone, the regional scale Werner-Gordon-Rex lake fault which extends from Rayner Lake in the west, passing under Almo Lake, east through the Werner Lake Co and Gordon Lake Cu-Ni deposits to Rex Lake.
- Mineralised peridotite is known to host many significant nickel deposits such as companies Mincor Resources Ltd in Kambalda and also Azure Minerals Ltd (ASX:AZS) Andover project’s ultramafic zone, which is in part peridotite.**
- The area has a rich history in nickel sulphide mines with the old Gordon Lake Mine located 3.5 km to the East of Werner Lake, which produced 1,370,285 tons averaging 0.92% Ni and 0.47% Cu and has existing reserves of 170,420 tonnes averaging 0.85% Ni and 0.35% Cu2.
Reynar Lake Ni-Cu-Co Project:
- Reynar Lake project immediately adjoins HTM’s Werner Lake Project.
- The ground is highly prospective for Ni, Cu and Co and should the option be exercised, it will provide HTM with additional landholding to potentially increase its cobalt resource and explore for additional nickel sulphide mineralisation.
The Company plans to build on the recent exploration success at Werner Lake by immediately begin planning exploration on the newly acquired Projects.
The acquisition of the Projects increases HTM’s landholding in the Werner Lake Area and the Company’s exposure to battery metals such as copper, cobalt, and nickel.
Figure 1 – Location of Mineral Deposits in the Werner Lake Belt.
Sonu Cheema, Executive Director commented:
"We are excited by the acquisition of Norpax and the option over Reynar Lake with the potential for a nickel discovery in a historic nickel producing province of Canada. Not only do the acquisitions increase our exposure to nickel, but it also increases the Company’s land holding substantially making High-Tech one of the largest land holders in the area.
“As the Projects lay in the area of Werner Lake, the Company’s geological team are familiar with the geological setting. This has been recently proven by the Company’s discovery of high-grade samples of nickel sulphide (that exceeded assay detection limits) in the Werner Lake Project.
“The Company plans to utilise its expertise in the area by undertaking a review of all available geological data, performing a systematic geochemical sampling program of known mineral occurrences on the projects in conjunction with reconnaissance geological mapping and relog and assay all known and available core.”
Click here for the full ASX Release
This article includes content from High-Tech Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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