Canada Silver closes acquisition of 6 km of Graal claims, Quebec

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Canada Silver Cobalt Works Inc. [CCW-TSXV; CCWOF-OTC] closed its latest acquisition of the consolidation of 6 km of mineralized strike length at the Graal project, northern Quebec. The land included in the new acquisition from Soquem Inc. and Mines Coulon Inc. bolsters the potential at the Graal property with further geophysical anomalies with conductor continuity and historical drill holes containing nickel, copper, and cobalt near surface.

Highlights include a six-km strike length mineralized with near-surface copper, nickel and cobalt. The company is aiming for a potential target of 30 to 60 million tonnes of EV metals based on only the MHY sector. Recently drilled mineralization (XRF values up to 2.79% nickel and 25.68% copper) is not included in potential target calculation.

Based on historical drill hole information, the mineralized strike length drilled in the past highlights a potential target of near-surface tonnage of 30 to 60 million tonnes grading in a range of 0.60% to 0.80% nickel and 0.30% to 0.50% copper with 0.10% to 0.15% cobalt for the MHY sector. This calculation excludes the newly discovered mineralization, the northern Lac Suzanne portion, and the south portion of Nourricier sector. This estimation does not take into account any potential at depth which is currently being explored. There has been insufficient exploration to define a mineral resource.

Matt Halliday, PGeo, president, chief operating officer and vice-president of exploration, commented: “We have accumulated a strategic land package across Ontario and Quebec. This is just the beginning. From what we see already at Graal we have put together the right pieces. It seems all the elements are there to develop a new world-class camp with a vision of EV and critical metals development. The evidence points to a large deposit; and we are working to develop it and continue to be a leader in the critical metals space.”

In other news, Canada Silver Cobalt 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, northern Ontario. This discovery has the highest silver resource grade in the world, with recent drill intercepts of up to 89,853 g/t 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 Q1 2022.

In May 2020, based on a small initial drill program, the company published the region’s first NI 43-101 resource estimate of 7.56 million oz silver Inferred, comprising very high-grade silver (8,582 g/t un-cut or 250.2 oz/ton) in 27,400 tonnes from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 metres.


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