Canada Silver Cobalt Files Updated 43-101 Technical Report on its Graal Nickel & Copper Project
Coquitlam, May 1, 2023 - Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt") announces that it has filed an updated National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") compliant technical report dated April 6, 2023 on SEDAR for its Graal Nickel & Copper Project, Saguenay-Lac-St-Jean, Québec, Canada. The updated report was prepared by Claude Duplessis P.Eng. GoldMinds Geoservices Inc. QP and Hugues Guérin Tremblay P.Geo. Laurentia Exploration Inc. QP. The report updates the NI 43-101 report dated July 4, 2022 prepared by Claude Duplessis P.Eng. GoldMinds Geoservices Inc. QP, Hugues Guérin Tremblay P.Geo. Laurentia Exploration Inc. QP and Alizée Liénard, P. Geo. Laurentia Exploration Inc. The updated NI 43-101 report recommends a work program in an amount of $500,000 on the Graal project, including a diamond drilling program for 2,000 metres.
The updated technical report is available under the Company's profile on SEDAR at www.sedar.com and on the Company's website.
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 60,000 m 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 an almost 15,000-metre drill program on the Graal property and an airborne VTEM geophysical survey is being conducted at its Lowney-Lac Edouard 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 in 2022.
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
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