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    CCW   CA1348521024

CANADA SILVER COBALT WORKS INC.

(CCW)
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Canada Silver Cobalt Works : Completes Commissioning of Secondary Crushing Circuit at Temiskaming Testing Labs

09/08/2021 | 12:06pm EST

(via TheNewswire)



  The Company has successfully commissioned its secondary crushing circuit and created a product size amenable to gravity concentration that may be used to produce a marketable gravity concentrate and/or feed for the Re-2Ox process to produce EV battery products.

Coquitlam, BCTheNewswire -September 8, 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 successfully commissioned the secondary crushing and screening circuit at its fully owned TTL (Temiskaming Testing Labs) bulk processing facility located in Cobalt, Ontario using low-grade waste rock.

“The company is now positioned to process mine development rock to recover native silver and produce feed to a planned pilot plant gravity circuit to produce marketable concentrates for evaluation as part of a PEA (preliminary economic assessment). The Company plans to use the secondary crushing and screening circuit during the exploration stage of mine development for metallurgical accounting and grade control by means of a bulk sample to be taken from the proposed planned ramp at the Castle East Robinson Zone. The data and information gathered during the processing of the mine rock may be used to develop a mill process flowsheet,” commented Frank J. Basa, P.Eng.

Crushing and Screening Circuit Highlights:

  • - The mine waste rock in this test run was initially processed with a mobile, tracked screening plant with a 125 tonne per hour capacity. This screening plant produces three different product sizes that include greater than 3” (coarse), between 3” and ½” (medium), and less than ½” (fine).

    - The screened mine waste rock was processed by the mobile screening plant and brought to the TTL facility for further crushing and screening. The facility can accept all three sizes produced by the mobile screening plant. Pre-screening the mine waste rock provides for the increased throughput capacity at the TTL secondary crushing and screening circuit.

    - The TTL facility has a complete crushing and screening bulk processing plant with a 20 tonne per hour capacity. This facility can produce three different product sizes that include greater than 1/4” (coarse), between 1/4” and 20-mesh (medium), and less than 20 mesh (fine).

    - The final product of the crushing circuit at TTL will allow the production of marketable gravity concentrates or will be used as pilot plant feed for the Re-20x process, which has produced EV battery and other related battery end-products.

You can find a video showing the mobile screening plant and TTL crushing circuit in actionHEREor via the Company’s website atwww.canadasilvercobaltworks.com

The Company continues with the planned 60,000-meter drill program at Castle East with 2 diamond drills running and over 43,000 meters completed to date. Environmental studies are ongoing for the ramp for the Castle East Robinson Zone and are slated to be completed in the first quarter 2022.

   

Qualified Person

 

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 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. 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 ouncesof 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 atwww.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

 

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.

Copyright (c) 2021 TheNewswire - All rights reserved.

Copyright (c) 2021 TheNewswire - All rights reserved., source Press Releases

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Financials
Sales 2020 - - -
Net income 2020 -11,0 M -8,52 M -8,52 M
Net cash 2020 6,42 M 5,00 M 5,00 M
P/E ratio 2020 -4,89x
Yield 2020 -
Capitalization 28,5 M 22,3 M 22,2 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 98,6%
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Managers and Directors
Frank J. Basa Chief Executive Officer & Director
Matt Halliday President, Chief Operating Officer & Director
Ryan Webster Chief Financial Officer
Jacques F. Monette Independent Director
Dianne Tookenay Director