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    CCW   CA1348521024

CANADA SILVER COBALT WORKS INC.

(CCW)
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Canada Silver Cobalt Works Inc. New Gold Property Now Totals 810 Hectares with 610 Hectare Acquisition

08/30/2021 | 01:54pm EST

Canada Silver Cobalt Works Inc. announced that it has entered into an Option Agreement dated August 15, 2021, to acquire the 610 hectares, known as the 'Tinney' property (the 'Property') from a group of highly renowned prospectors ('Claim Holders'). Acquisition Highlights: Property lies within the Abitibi Greenstone Belt in the prolific Kirkland Lake district and is located approximately 7 km south-west of the high-grade Macassa Gold Mine currently operated by Kirkland Lake Gold. In addition, the 610 hectares included in this acquisition are adjacent to the 200 hectares recently optioned on August 3, 2021, from geologist Doug Robinson and partners. This increases the total area of the land package four-fold to a grand total of 810 hectares. The acquisition provides further expansion of the Company's precious metals portfolio into the well-established Kirkland Lake Gold camp located on the prolific Larder Lake-Cadillac Break. Select claims have valid exploration permits that will allow a combination of mechanized drilling and/or surface geophysics (shown on Figure 1 and Figure 2). A well-organized exploration plan is currently being developed for the 2022 field season which may include geological mapping, the stripping of outcrops, and channel sampling. Results of this field season will dictate the drill program to follow on the property. The structural zone surrounding the Eby-Otto Fault is marked by iron carbonate, silicification, chloritization, and large pyrite-mineralized zones up to 200 meters wide. According to OGS open file report OFR6184 quoting Meyer et el 2005, there are several gold deposits in the area that show similarities such as the Holloway Mine 'Lightning Zone', the Kerr Mine 'Flow Ore', and the 'D Zone' at the Cheminis Mine. While these orebodies are not significant at surface, the evidence exists in the form of carbonatization, silicification, pyrite mineralization, and sporadic gold mineralization similar to what is encountered on these claims. In addition, geochemically anomalous gold and copper values have been recorded along the length of the Eby-Otto Fault as showings, pits, and small-scale shafts with values up to 5.8 g/t Au over 1.5m (0.17 oz/ton over 5', AFRI 2.57388 2016). Further anomalous showings of gold, copper, and platinum occur within the mafic metavolcanics, mafic metasediments, and syenite intrusions scattered across the combined property.


ę S&P Capital IQ 2021
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Financials
Sales 2020 - - -
Net income 2020 -11,0 M -8,59 M -8,59 M
Net cash 2020 6,42 M 5,04 M 5,04 M
P/E ratio 2020 -4,89x
Yield 2020 -
Capitalization 31,0 M 24,2 M 24,3 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 98,3%
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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