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Canada Cobalt Works Inc
Symbol CCW
Shares Issued 90,032,798
Close 2020-01-09 C$ 0.65
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ORIGINAL: Fresh Assays Show Massive Native Silver Grades in Second Wedge Hole at Castle East Discovery

2020-01-10 15:05 ET - News Release

Fresh Assays Show Massive Native Silver Grades in Second Wedge Hole at Castle East Discovery

Canada NewsWire

COQUITLAM, BC, Jan. 10, 2020 /CNW/ - Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada Cobalt") is pleased to announce that assays from the second wedge hole at the Robinson Zone at Castle East, a new grassroots high-grade discovery adjacent to three past producers, have returned 70,380 g/t silver (2,053 oz/ton) over 0.30 meters within a broader zone of 1.4 meters grading 20,136 g/t (587oz/ton) and 4 meters (core length) of 7,259 g/t (212oz/ton).

The very high-grade intersection in CA-19-08-02 is approximately 8 meters west of the mineralized zone intersected by the first wedge hole (430 meters vertical depth) and 17 meters west of the original discovery intercept in hole CA-11-08. 

Assays for cobalt, nickel and copper from CA-19-08-WO2 are still pending in addition to assays from 28 other samples from this hole. Assays for the full 4.65-meter strongly mineralized interval (core length) from hole CA-19-08-W01 are also still pending (50,583.29 g/t Ag over 0.60 meters within 1.5 meters of 20,741 g/t) in addition to results from 58 samples from the third and fourth wedge holes.

Drilling continues as Canada Cobalt builds out this discovery.

Matt Halliday, Canada Cobalt VP-Exploration, commented, "These are truly exceptional grades from the first two holes and 'hits' that typically do not occur in isolation in this kind of geological setting. We look forward to providing another update for shareholders in the near future."

Regional Property Map

Please visit the Canada Cobalt web site at CanadaCobaltWorks.com for an updated location/geological map for the Castle Property, also included in this news release.

Vertical Section

Included in this news release (see below) is an updated vertical section map for the Castle East high-grade silver discovery with the assay table for CA-19-08-W02. Refer to the Canada Cobalt web site at CanadaCobaltWorks.com for additional maps, images and video that will be posted during this drill program.

Photos below are of selected intervals and are not necessarily representative of mineralization hosted on property.

Quality Control/Assurance

The drill program and sampling protocol are being managed by geologists from GoldMinds Geoservices. Holes CS-19-08-W01 to W04 were wedges drilled off the historic CA-11-08 hole. The original hole was re-opened, a modern gyro survey was completed to confirm the location of the hole at depth and then the wedges were drilled from different depths using NQ diameter drill core. Samples were collected using a 0.3-meter minimum length, one-meter maximum length. Drill core recovery averaged 95%. Two quality control samples (blank and standards) were inserted into each batch of 20 samples. The drill core was sawn with one half of the sawn core placed in a plastic bag with the sample tag and sealed, while the second half was returned to the core box for storage on site. For the high-grade intercepts, only one-quarter of the core has been sent for assaying to Swastika Laboratories in Swastika, Ontario. Where silver was visually and significantly present, a pulp-metallic analysis was requested for the silver and gold assays where the entire sample is dried, weighed and crushed over 95% then fully pulverized and passed through 200-mesh screen to create a plus 200-mesh fraction (metallics) and a minus 200-mesh fraction (pulp). The minus 200-mesh fraction (fines) was run using geochemical analysis with AA finish for Ag, Au, Cu, Ni, and Co. The entire +200 mesh (coarse) fraction was analyzed using gravimetric processes  (fire assay) for both Ag and Au to provide a weighted average assay for the entire sample.

Swastika Laboratories is an ISO certified lab independent of Canada Cobalt.

Qualified Person

The technical information in this news release was prepared under the supervision of Mr. Merouane Rachidi, Ph.D., P.Geo., (APGO, APEGNB and OGQ) of GoldMinds Geoservices, a qualified person in accordance with National Instrument 43-101.

About Canada Cobalt Works Inc.

Canada Cobalt has 100% ownership of the Castle mine and the 78 sq. km Castle Property with strong exploration upside in the prolific past producing Gowganda high-grade Silver Camp of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, 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, Canada Cobalt is strategically positioned to become a vertically integrated North American leader in cobalt extraction and recovery while it also exploits a powerful new silver-gold market cycle.

"Frank J. Basa"
Frank J. Basa, P. Eng.
President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. 

SOURCE Canada Cobalt Works Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2020/10/c9982.html

Contact:

Frank J. Basa, P.Eng., President and CEO, 1-416-625-2342; Marc Bamber, Director, mb@buffaloassociates.com, +44-7725-960939

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