Canada Cobalt Assays 5.2% Cobalt from Selected Underground Sampling as Castle Drill Program Launches

- June 8th, 2018

Canada Cobalt Works Inc. (TSXV:CCW) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) is pleased to announce high-grade cobalt assays from selected composite sampling of waste rock material removed from the first level of the Castle mine during rehab as the company launches its maiden underground drill program.

Canada Cobalt Works Inc. (TSXV:CCW) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) is pleased to announce high-grade cobalt assays from selected composite sampling of waste rock material removed from the first level of the Castle mine during rehab as the company launches its maiden underground drill program.

Highlights:

  • Five composite samples ranged from 1.05% to 5.2% cobalt, averaging 2.3% cobalt
  • Silver values ranged from 167 g/tonne to 240 g/t while one sample returned 10.1 g/t gold
  • These samples will form part of a 500 kg composite sample that will be put through the Company’s proprietary Re-2OX process to create a cobalt concentrate followed by a cobalt sulfate and/or cobalt hybrid formulations for evaluation by battery sector clients in China

Frank Basa, Canada Cobalt President and CEO, commented: “We look forward to putting this latest mineralized material through our environmentally green Re-2OX process which has shown exceptionally high recovery rates and 99% removal of arsenic (see May 31, 2018 news release).

“Needless to say, our team is tremendously excited as we now launch the first-ever underground drill program at the Castle mine specifically targeting cobalt that was left behind by previous operators going back to the early 1900’s. We’re showing how cobalt works in Canada and we look forward to updating shareholders throughout our drill program,” Basa concluded.

Sample
#

Cobalt
%

Silver
g/t

Gold
g/t

Nickel
%

11501

1.05

171.5

0.15

0.24

11502

2.39

141.3

0.39

0.41

11503

1.68

239.8

0.13

0.29

11504

5.19

202.0

0.36

0.93

11505

1.26

167.0

10.13

1.03

Canada Cobalt cautions that samples are selective and not necessarily representative of mineralization underground at the Castle mine.

Qualified Person

The technical information in this news release was prepared under the supervision of Frank J. Basa, P.Eng., Canada Cobalt’s President and Chief Executive Officer, who is a member of Professional Engineers Ontario and a qualified person in accordance with National Instrument 43-101.

QA/QC

Assayed samples are from optical and electronic sorting of waste rock removed from the first level of the Castle mine during rehab. Five composite samples were transported by truck to Swastika Laboratories, an accredited lab in Swastika, Ontario, for assay. Aqua regia digestion and atomic absorption finish were used for cobalt, nickel and silver analysis while gold values were determined by fire assay.

About Canada Cobalt Works Inc.

Canada Cobalt is a pure play cobalt company focused exclusively on the Northern Ontario Cobalt Camp, Canada’s most prolific cobalt district. With three 100%-owned past producing mines, a proprietary hydrometallurgical process known as Re-2OX, and plans for a 600-tonne-per-day mill at its flagship Castle Property near Gowganda, Canada Cobalt is well positioned to become a vertically integrated North American leader in cobalt extraction and recovery.

“Frank J. Basa”
Frank J. Basa P. Eng.
President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE Canada Cobalt Works Inc.

View original content: http://www.newswire.ca/en/releases/archive/June2018/08/c5330.html

Frank J. Basa, P.Eng., President and CEO at 1-819-797-4144, or Wayne Cheveldayoff, Corporate Communications, waynecheveldayoff@gmail.com, 416-710-2410Copyright CNW Group 2018

Click here to connect with Canada Cobalt Works Inc. (TSXV:CCW) for an Investor Presentation.

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