canada silver cobalt

Canada Silver Cobalt Works Acquires 39,200 Hectares of EV Properties in Ontario and Quebec

 
 

 Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) ( Frankfurt : 4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce the acquisition of 39,200 hectares of EV properties in Quebec and Ontario.  It is Canada Silver Cobalt's intention to transfer the properties, in exchange for shares, to another public company to be identified by the Company, in order to capitalize on the current EV market, and to distribute the shares by way of dividend to Canada Silver Cobalt's shareholders.

 

These properties have a strong potential to host a variety of base metals including nickel, copper and cobalt. This strategic move is for structural organization purposes to add to our current cobalt mineralization discoveries in the Cobalt Camp and as an expedient approach to the increasing demand for EV battery input materials.  Canada Silver Cobalt's main focus will remain on its High-Grade silver discovery at the Robinson Zone with drill core silver grades of 89,000 grams per tonne ( January 29, 2021 CCW Press release).

 

  Quebec Properties:  

 
 
                                                                    
 
 

   Property Name   

 
 

   Hectares   

 
 

   Target   

 
 

  1  

 
 

  Fuchsia Ni Showing  

 
 

  4013  

 
 

  Nickel showing, magnetic anomaly by Road389 to
Manic
 

 
 

  2  

 
 

  Nourricier - Graal  

 
 

  1778  

 
 

  Bouguer gravity target  

 
 

  3  

 
 

  Forgues Ni East Crater Showing  

 
 

  1391 (CD 2780)  

 
 

  Nickel showing, Bouguer gravity target, East Crater,
Manic
 

 
 

  4  

 
 

  Lowney Lac Edouard south  

 
 

  3200 (CD 6692)  

 
 

  Bouguer gravity target  

 
 

  5  

 
 

  LPM-LPMN Ni Showing  

 
 

  388  

 
 

  Nickel Bouguer gravity target  

 
 

  6  

 
 

  Boudrias Showing  

 
 

  942  

 
 

  Nickel showing, magnetic anomaly by Road389 to
Manic
 

 
 

  7  

 
 

  B30 Shear  

 
 

  721  

 
 

  Nickel showing, magnetic anomaly by Road389 to
Manic
 

 
 

  8  

 
 

  Zec aux Rats  

 
 

  1180  

 
 

  Showing, magnetic anomaly  

 
 

  9  

 
 

  NW B15 Showing  

 
 

  668  

 
 

  Bouguer gravity target near showing  

 
 

  10  

 
 

  Saint-Stanislas Ni Showing  

 
 

  395  

 
 

  Nickel showing, magnetic anomaly  

 
 

  14  

 
 

  Dyke Horizon Cu Showing  

 
 

  1505  

 
 

  Copper showing, Chibougamau  

 
 

  13  

 
 

  Grand Portage  

 
 

  2196  

 
 

  Nickel showing, magnetic anomaly  

 
 

  11  

 
 

  32B04/32C01  

 
 

  2298  

 
 

  Bouguer gravity target  

 
 

  12  

 
 

  Magpie West  

 
 

  700  

 
 

  Bouguer gravity target  

 
 

  15  

 
 

  B2 Discovery - option  

 
 

  8450  

 
 

  Copper, Nickel Discovery  

 
 
 
 

   34,706 ha   

 
 
 
 

  Ontario Property:  

 
 
            
 
 

   Property Name   

 
 

   Hectares   

 
 

   Target   

 
 

  1  

 
 

  Henry Lake  

 
 

  4468  

 
 

  Bouguer gravity target east of Sudbury Basin nickel
deposits
 

 
 
 
 

   4,468 ha   

 
 
 
 

These properties have been acquired and/or staked.  All the properties have surface showings that have been sampled or have massive gravity anomalies.  The Lowney Lac Edouard South property in Quebec is adjacent to Rio Tinto Mines property.  The Ontario properties are within 25 kilometers of the Sudbury basin where Glencore and Vale have multiple mines and smelters which have been in operation for over 100 years to recover nickel, copper and cobalt metals.  The Company will continue to search for additional assets and property acquisitions in the vast areas of Northern Quebec and near the Sudbury nickel basin, so-called because of the massive deposits previously, and recently, discovered in these regions, one of the best areas in the world for nickel, copper, and cobalt discoveries.

 

With the race for the discovery of large new deposits of key metals from safe jurisdictions accelerating, prices are reacting with the price of some EV metals such as nickel, copper and cobalt, having been dormant for some time, already moving up over 30% in 2021.  North American governments at all levels are becoming increasingly involved, supporting companies seeking to supply input metals for EV batteries as the push for a green economy continues unabated.  Major geo-political forces have recently done a 180 and are now going all-in on green initiatives and related technologies.  What we are seeing today is consistent with previous announcements like the joint American-Canadian Federal Governments' press release from just over one year ago.  On January 9, 2020 , the American and Canadian governments announced the finalization of a joint action plan on critical metals which stated, "This Action Plan will promote joint initiatives, including research and development cooperation, supply chain modelling and increased support for industry."

 

CEO Frank J. Basa P.Eng . notes, "Timing has never been better, which is why we are moving ahead with these acquisitions that will facilitate strategic positioning for the Company to take full advantage of rapidly evolving market conditions for EV battery base metal inputs.  The idea is to best position the Company to take full advantage of synergies, government policy and financial supports as the urgent search for massive deposits of metals needed to fulfill stated green objectives accelerates."

 

Canada Silver Cobalt cannot give any assurances regarding a potential transfer of the Quebec and Ontario properties to another public company in exchange for shares, the terms and conditions of any such transfer, the distribution of such shares to the Company's shareholders by way of dividend, whether TSX Venture Exchange or other stock exchange or regulatory approval will be obtained for such transfer or distribution, to the extent required, or the timing of any of the foregoing.

 

  About Canada Silver Cobalt Works Inc.  

 

 Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp. In May 2020.  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 Robinson Zone beginning at a vertical depth of approximately 400 meters. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the east-trending Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28 , 2020.  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 Castle mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold, and copper in the prolific past producing Gowganda high-grade Silver District of Northern Ontario . With underground access at Castle, 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.

 

"Frank J. Basa"
Frank J. Basa , P. Eng.
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.  

 

   Caution Regarding Forward-Looking Statements   

 

  This news release may contain forward-looking statements, including but not limited to comments regarding the transfer of the properties described herein to another public company in exchange for shares, the distribution of the shares to the Company's shareholders by way of dividend, 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. Except as may be required by Canadian securities laws, the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Accordingly, shareholders, investors and others are cautioned that undue reliance should not be placed on any forward-looking statements.  

 

SOURCE Canada Silver Cobalt Works Inc. 

 

 

 

 Cision View original content: https://www.newswire.ca/en/releases/archive/February2021/16/c7462.html  

 
 

News Provided by Canada Newswire via QuoteMedia

The Conversation (0)
Closeup of vibrant blue crystals on a textured surface.

Cobalt Blue's Broken Hill Project Gets Major Project Status Extension

Cobalt Blue Holdings' (ASX:COB) Broken Hill cobalt project has received a further three years of major project status.

The extension of major project status for Broken Hill follows the project's initial designation originally granted in March 2022, and supports the continued development of this key asset in remote western New South Wales.

The project spans approximately 37 square kilometres.

Keep reading...Show less
Democratic Republic of Congo flag.

Cobalt Prices Surge as DRC Extends Export Ban to September

Cobalt prices are surging after the Democratic Republic of Congo (DRC), the world’s largest producer, extended its export ban by three months in a bid to address global oversupply and stabilize plunging prices.

According to the Financial Times, cobalt prices on China’s Wuxi Stainless Steel Exchange rose nearly 10 percent after the DRC government announced the news over the weekend.

The ban — originally set to expire on Monday (June 23) — will now remain in effect until at least September.

Keep reading...Show less
A lithium-ion battery in the foreground with a line of batteries in the background, all surrounded by blue swirls.

ASX Cobalt Stocks: 4 Biggest Companies in 2025

After spending much of the last two years trending downwards, the cobalt price is spiking in 2025.

About 75 percent of global cobalt output comes from the Democratic Republic of Congo (DRC). While electric vehicle (EV) demand has remained positive, cobalt oversupply has weighed on markets and hurt efforts to build supply chains outside of the DRC.

However, the country banned exports of cobalt in February in an effort to increase the metal's falling price. By mid-March, cobalt had spiked to US$36,170 per tonne, up more than 65 percent from its record-low price of US$21,550 hit in late January.

Increasing electric vehicle (EV) and lithium-ion battery demand is expected to be supportive for key battery raw materials in the coming years. This means that as demand for EVs increases, so too will demand for cobalt — and, as one of the top four cobalt-producing countries in the world, Australia finds itself in a position to capitalise on this demand.

Keep reading...Show less
Electric car charging, wind turbine and cityscape double exposure.

Cobalt Market Update: Q1 2025 in Review

Cobalt metal prices fell to a nine year low in February after another year of oversupply, but rebounded sharply after the Democratic Republic of Congo (DRC) instituted a four month export pause for the critical metal.

After starting the year at US$24,495 per metric ton, cobalt ended the three month period at US$34,040.40, a strong 39 percent increase from January’s value. The price spread between cobalt’s first quarter low of US$21,467.70 on January 29 and its Q1 high of US$36,262 on March 17 is even more impressive at 69 percent.

The drop to US$21,467.70 marked the battery metal's lowest level since February 2016.

Keep reading...Show less
A Canada flag on a compass pointing towards the word "invest."

Electra Secures Federal Support for North America’s Only Cobalt Sulfate Refinery

Electra Battery Materials (TSXV:ELBM,NASDAQ:ELBM) announced on March 21 that it has received a letter of intent from the Canadian government for C$20 million in proposed funding.

The money would support the construction and commissioning of North America’s first battery-grade cobalt refinery, a critical step toward strengthening the region’s electric vehicle (EV) supply chain.

The refinery, located in Temiskaming Shores, Ontario, is set to produce 6,500 metric tons of cobalt sulfate annually, enabling domestic production of up to 1 million EVs per year. According to Electra, it would be a key step in reducing North America's dependence on China, which currently refines approximately 90 percent of the world’s cobalt.

Keep reading...Show less

Latest Press Releases

Related News

×