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Canada Cobalt Works Inc.
Summary
| Project: | Castle | |
|---|---|---|
| Deposit: | Castle | |
| Location: | Canada | |
| Commodities: | Cobalt-Silver-Nickel-Gold | |
| Date: | 11/2/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 2-11-2018: Canada Cobalt Works Inc. announces an Exploration/Drilling Update report for its Castle deposit at the Castle project. Drilling results incl. 7.0m @ 2.28% Co, 261.44g/t Ag, 1.65% Ni from 0m. COQUITLAM, BC, Nov. 2, 2018 /CNW/ - Canada Cobalt Wor | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Frank Basa (Internal) | |
| ABSTRACT: | COQUITLAM, BC, Nov. 2, 2018 /CNW/ - Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada Cobalt") is pleased to announce that underground drilling on the first level of the Castle mine, specifically targeting cobalt for the first time at this historic silver producer, has returned high-grade cobalt, nickel and silver grades. Frank Basa, Canada Cobalt President and CEO, commented: "These cobalt grades are very high in a global context and demonstrate the unique opportunity at the Castle mine, from which we have already created battery grade cobalt sulphate through our proprietary Re-2OX process for evaluation by clients in Asia and Europe. "The purpose of this initial and continuing underground drill program is to confirm that the Castle vein structures do contain impressive cobalt values. Previous operators focused exclusively on mining high-grade silver through the 11 levels, ignoring cobalt and other metals such as nickel and gold. "We have a lot of room on the first level while pump testing continues to the second level, beginning at a depth of 25 meters. In light of these initial results, we are accelerating efforts at deploying the most effective underground techniques to fully leverage the Castle mine cobalt opportunity for shareholders," Basa concluded. The first three holes targeted a vein structure near the adit entrance and attempted to follow the vein from a series of inclinations from approximately the same drill set-up through the Nipissing Diabase toward the second level in order to test grade potential (follow-up drilling across the structure will assess true widths). Drilling in these holes exited the vein at depths of 7 meters, 6 meters and 9.25 meters, respectively, reaching a maximum hole length of 30 meters, underscoring the potential to identify additional high-grade mineralization at significantly deeper levels through additional drilling in this area and elsewhere. Intervals reported below are core lengths with true thickness unknown at this time. | |
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