Highlights of Strategic Developments
- Discovered high-grade silver mineralized structures - the first and only major discovery in the Historic High-Grade Silver Cobalt Camp in the last 50 years. Ongoing 50,000-meter drilling program.
- Poured a silver bullion bar using the furnace at
Temiskaming Testing Labs from the metallics screened from the high-grade silver-cobalt material of theCastle Silver Mine . Completed the purchase of former Provincial Government's 20,000 square footTemiskaming Test Labs (TTL) - a complete analytical lab facility and plant for processing high-grade silver into bullion silver bars. - Used the Re-2Ox hydrometallurgical process to produce battery-grade cobalt sulfate. From the same high-grade silver-cobalt material as above, SGS Canada, a Top-tier global service provider to the mining industry, recovered 99 percent of the arsenic.
- Canada Silver Cobalt is the first company to produce battery-grade Cobalt-sulphate and to recover the arsenic – and the only company in the Cobalt Camp to have done so. Cobalt and Arsenic are 2 of the 35 minerals deemed critical to
U.S. National Security and the Economy (www.usgs.gov).
Canada Silver Cobalt is the first Company to make a major high-grade silver discovery in
An upgrade of both the assay lab and high-grade silver processing circuit in the plant has been completed. To ensure regulatory impartiality, the company has engaged a contract lab operator to operate the lab independent of the company. Trial assays are set to begin in June with an aim to attain a 6000-assay per month analytical lab capacity. The secondary crushing and screening circuit in the high-grade silver plant has been rebuilt with a processing capacity rated at 18-20 tonnes per hour. In addition, the bullion furnace has been relined to ensure a fresh and seamless start.
The company has engaged with community members, with municipal, provincial, and federal government officials, with local stake holders, and with five distinct First Nation Communities with three separate agreements in place. The company is proud to be one of only a few that has had a First Nations member as an active director on the Board since 2015.
Highlights of On-going, Real-Time Developments
- First and only company in the Cobalt Camp to open up an adit and drill underground in the past 40 years; rehabilitate the first level and set up the former mine shaft for dewatering; conduct a pumping test at the Shaft dewatering at 50,000 liters per day; apply for permits for bulk sample mining of mineralized material in open stopes; purchase scoop tram and related mining equipment to begin mining program once permits received. Company confirmed the presence of High-
Grade Silver and Cobalt veins left unmined underground which is considered a source of primary feed using a proven, low-cost, successful business model for going into production in the Cobalt Camp by residual mining. - Completed mill flowsheet for 600 tpd gravity-flotation Mill with planned initial mill location to be on historic mill footprint. Having identified multiple mineralized vein structures in that area, the proposed mill site was relocated to more proximal to the proposed ramp into the
Robinson Zone . On-going drilling to locate a potential non-mineralized area for mill site. - Conceptual ramp to
Robinson High-Grade Silver Zone completed by mining consultant. Environmental studies to be completed first quarter 2022. - Beaver stamp mill tailings drilled and sampled. Permit for testing Castle Tailings received and drill program to be scheduled. On-going test work at SGS on Beaver Tailings is producing excellent preliminary grades and recoveries.
- On-going bench test work using the Re-2Ox process is proceeding at SGS on secondary feeds consisting of spent Lithium-ion batteries, Nickel-Cadmium batteries, and metal-hydride batteries. SGS has been retained to build the Re-2Ox pilot plant at their laboratory at
Lakefield, Ontario .
"The Company has multiple, ongoing, real-time developments facilitating the ability to make a production decision ahead of the final resource calculation aided by continuous drill programs"
The company is well aware of the process economics to develop a successful mining company and employs proven historical business models that have worked in the Cobalt Camp for decades. The company is developing three sources of primary feed concurrently; these being stamp mill tailings,
Location
The Castle Property is 15 km east of Aris Gold Corp's Juby gold deposit, 30 km due south of Alamos Gold's
Qualified Person
The technical information in this news release was prepared under the supervision of Frank J Basa,
About
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
"Frank J. Basa"
Chief Executive Officer
Neither the
SOURCE
© Canada Newswire, source