Developing high-quality, data-driven drill targets for high-grade silver, cobalt, and gold at the Castle East property in Gowganda, Ontario
Coquitlam, BC TheNewswire - November 2, 2021 - Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce that it has engaged GoldSpot Discoveries Corp. (TSXV: SPOT) ("GoldSpot") to apply their proprietary machine learning technology and geoscience expertise to the Castle East project located in Gowganda Ontario.
GoldSpot will be working in conjunction with the geotechnical team at Canada Silver Cobalt to assist in expanding current resources, creating additional drill targets, and to identify Smart Targets for new discoveries at a more regional scale.
Canada Silver Cobalt Works has extensive datasets across multiple geoscientific fields. GoldSpot will homogenize, integrate, process, and interpret these exploration datasets. The interpreted and derived products will be used as input layers to GoldSpot's proprietary machine-learning techniques which will be validated by the GoldSpot's team of expert geoscientists.
"Canada Silver Cobalt has some of the best silver intercepts in recent history and we are very excited to be a part of that," c omments GoldSpot Chief Executive Officer Vincent Dubé-Bourgeois. "GoldSpot looks forward to working with the geotechnical team at Canada Silver Cobalt and identifying additional targets for expansion of deposits as well as further discoveries."
Matt Halliday, President and Chief Operating Officer, commented: " Our team looks forward to working with the GoldSpot. I believe that this data-driven project will open up new possibilities at Castle East, leading to more efficient use of our drill meters, and will help us both generate and prioritize drill targets in our broad exploration package."
Recent successes, using GoldSpot's proprietary technology include Pretium Resources' Brucejack Property in Northern B.C. with the identification of 65 new targets leading to the Golden Marmot zone as well as at Critical Elements' Bourier Property in Northern Quebec where they helped identify 5 new zones of spodumene-rich (Li-rich) pegmatite, exemplify the potential across all commodities and multiple deposit types.
The Castle Property is 15 km east of Aris Gold Corp's Juby gold deposit, 30 km due south of Alamos Gold's Young-Davidson mine, 75 km southwest of Kirkland Lake Gold's Macassa Complex, and 100 km southeast of new gold discoveries in the Timmins West area.
The technical information in this news release was prepared under the supervision of Mr. Matthew Halliday, P.Geo., (APGO) VP Exploration of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.
The technical information in this news release was prepared under the supervision of Mr. Frank J. Basa, P.Eng., Chief Executive Officer of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.
About GoldSpot Discoveries Corp.
GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) is a technology company using artificial intelligence to revolutionize the future of global mineral exploration with a full suite of data and knowledge-driven SaaS tools and services. GoldSpot works with industry leaders across all commodity and deposit types to identify new exploration targets, develop cutting-edge technologies and to strategically invest in mineral exploration companies. Our leading team of expert scientist's merge geoscience and data science to deliver bespoke solutions that save time, reduce costs and produce far more accurate results than ever before possible.
For further information please contact:
Chief Executive Officer
GoldSpot Discoveries Corp.
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. This discovery has the highest silver resource grade in the world, with recent drill intercepts of up to 89,853 grams/tonne silver (2,621 oz/ton Ag). A drill program is underway to expand the size of the deposit with an update to the resource estimate scheduled for the first quarter of 2022.
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.
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 on site, 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, P. Eng .
Chief Executive Officer
For further information, Contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
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.
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