Canada Silver Cobalt Works samples up to 3.2 g/t gold at Miller Lake, Ontario

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Canada Silver Cobalt Works Inc. [CCW-TSXV; CCWOF-OTCQB; 4T9B-FSE] provided an update on its gold prospecting activities in the Miller Lake area at the Castle mine property, Ontario. The company has made significant discoveries in its surface exploration efforts, and the latest findings with multiple samples above one g/t gold and ranging up to 3.2 g/t gold are highly encouraging at surface.

“We are happy we have these grab samples in a timely manner with a three-day gold assay turnaround from Temiskaming testing labs. They are taken systematically over the stripping area and they are very encouraging. We now want to see what we can find in channel samples so we can model some widths and we are excited to see the outcrop mapping to incorporate into our geological database at Castle,” said Matthew Halliday, PGeo, president and chief operating officer.

The discovery of gold at the surface at the past-producing high-grade silver-cobalt Castle mine is in addition to previously reported results of gold sampling and drill intercepts at the property as well as the discovery of new major silver-cobalt vein structures and the publication of a resource estimate.

During the recent stripping process in the Miller Lake area, a section measuring approximately 15 metres by 12 metres at the widest points was examined. The lithology in the area consists of mafic volcanic massive flow with weak chlorite and albite alteration at the extremities. The main part of the area exhibits iron, carbonate, and silicification alteration with rusty gossan. Notably, there is about 1% quartz veining present.

Across the outcrop, pyrite mineralization is evident, ranging from 1% to 2% and locally reaching up to 5% to 7%. This pyrite is associated with stronger alteration and provides additional evidence of mineralization potential.

A total of 22 rock samples were collected from the site, along with two QA/QC (quality assurance/quality control) samples. Sample assays included 3.20 g/t gold, 2.20, 1.40, 2.14, 1.38, 1.37, 1.10, 2.97 and 1.08 g/t gold.

It is worth noting that multiple samples have gold values above one g/t gold, with one sample even reaching 3.2 g/t gold.

The next step in the exploration process involves channel sampling, which is scheduled to take place during the week of July 23. The additional data collection will provide a more comprehensive understanding of the mineralization potential in the area.

Furthermore, there are interesting findings in proximity to the current stripping area. Approximately 50 metres north of the stripping location, there is an outcrop with quartz veining and associated iron, carbonate alteration and pyrite mineralization. This new discovery presents a potential new stripping target to expand on the known mineralized zone.

Moreover, about 80 metres east of the current location, prospecting efforts revealed similar but less extensive pyrite mineralization and alteration. Nonetheless, the grab samples from this area contained anomalous low gold grades ranging from 0.1 to 0.28 g/t gold.

The gold zone’s potential appears to be open in all directions, presenting the possibility of future drill targets.

Canada Silver Cobalt remains committed to leveraging advanced technology in its exploration efforts. The recently initiated M-PASS survey, conducted by ALS GoldSpot, is undergoing data processing and will be integrated with the existing data set. This survey will facilitate machine learning targeting, enhancing the identification and targeting of new gold and silver mineralization zones.

“We are excited about the progress we have made in our prospecting efforts, which have revealed promising results and demonstrated substantial mineralization potential in the Miller Lake area,” said Halliday. “With the resumption of our stripping program, we look forward to expanding our operations and further exploring this newfound location. Additionally, the implementation of the M-PASS survey underscores our commitment to leveraging advanced technologies for successful exploration.”

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 in the prolific and world-class silver-cobalt mining district of Northern Ontario. The company has completed a 60,000-metre drill program aimed at expanding the size of the deposit with an update to the resource estimate under way.

In May, 2020, based on a small initial drill program, the company published the region’s first NI 43-101 resource estimate that contained a total of 7.56 million ounces of silver in inferred resources, comprising very high-grade silver (8,582 g/t uncut 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 metres.

The company also has 14 battery metal properties in Northern Quebec, where it has recently completed a nearly 16,000-metre drill program on the Graal property; the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle’s high-grade Macassa mine near Kirkland Lake, Ont., where it is exploring; and a lithium property of 230 km2 of greenfield exploration ground focused along a significant volcanic sedimentary rock/Archean granite contact near Cochrane, Ont., contiguous to Power Metals’ Case Lake lithium properties.

Canada Silver Cobalt’s flagship silver-cobalt Castle mine and 78-km2 Castle property feature strong exploration upside for silver, cobalt, nickel, gold and copper. The company has 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, 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).

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