Published On: July 31st, 2023
Fig.1 Canada Silver Cobalt Works Inc. Logo
Canada Silver Cobalt Works Inc. (TSX-V: CCW; OTCQB: CCWOF; FF: 4T9B), led by Frank J. Basa, P. Eng., recently made an astounding silver discovery at its flagship Castle Mine in northern Ontario – a very rich silver deposit with grades many times higher than usual in silver mining and with the added benefit of also containing cobalt and nickel for the EV battery industry.
The Company’s drilling at Castle East hit many silver vein systems with exceptionally high grades such as:
- 89,853 grams per tonne (g/t) silver over 0.3 meters
- 30,416 g/t silver over 0.45 meters
- 50,583 g/t silver over 0.6 meters
- 51,612 g/t silver over 0.41 meters
- 53,739 g/t silver over 0.48 meters
- 70,380 g/t silver over 0.3 meters
The top grade of 89,853 g/t silver is equivalent to 2,621 ounces per ton and almost 9% pure silver overall and much higher in some parts, which exhibit a brilliant shine one would normally expect from silver.
These grades are unheard of in today’s silver mining world. Mines usually are operated based on only a few hundred grams per tonne.
But a resource report for Castle East by an independent engineering firm has highlighted how very special this deposit is. The report calculated the average grade for 7.56 million ounces of silver inferred resource in the deposit at 8,582 g/t (250.2 oz/ton) which is the highest resource grade anywhere in the world. And this was only from a few holes drilled into the vein system – there could be a lot more to be discovered as the deposit could extend outward beyond the area drilled and below as the drilling only tested down to about 500 meters.
When the Company exhibits at mining shows, geologists from around the world drop by the Company’s booth to admire the visible pure silver in the drill core from Castle East because they’ve never seen anything like it before.
This bonanza silver deposit has the added benefit of also having cobalt present in it in very high grades which opens up the potential to mine the two together with the silver paying for the costs and cobalt being mined essentially for free – all of which is expected to be very profitable for shareholders.
Cobalt grades at Castle East hit as high as 2.24%, which is equally astounding in that cobalt grades in deposits in other parts of the world are typically well under 1%.
This dual focus on silver with battery metals makes Canada Silver Cobalt Works unique among junior miners as there is no other company that has advanced so far on this path especially operating in eco-friendly jurisdictions such as Canada where environmental controls (as well as human rights) are high priority. The Company has properties only in Canada.
All of the major metals at Canada Silver Cobalt’s properties are needed for the electric transition including the silver (for solar panels, electrical wiring connections) and cobalt, nickel, lithium (for EV batteries) as well as copper (electrical grids and EV wiring).
Canada Silver Cobalt Works is well-positioned to capitalise on rising battery and precious metals demand as a Canadian leader in the silver- battery metals space.
The Company has the metals that analysts say the electrical transition needs a lot more of to succeed and the value of its deposits is growing as governments continue to funnel subsidies into electrification and more recently to fund critical metals exploration and development in North America.
Cobalt, nickel, copper and lithium are ranked as critical metals in the US and Canada.
In addition to the high-grade deposits, there is also potential to recover metals in the tailings (waste rock) at the past-producing Castle Mine since previous mine extraction methods used 100 years ago when mining began at Castle were not as efficient as today and many metals were left behind in the waste.
Also, in another move with benefits for shareholders, Canada Silver Cobalt Works Inc. has strategically decided to spin out one of its advanced battery metals projects, making it a sought-after stock. This move aims to optimise shareholder value and cater to the rising demand for battery metals. Investors looking for promising battery metals stocks to buy will find potential in this spin-out, as existing Canada Silver Cobalt Works Inc. shareholders will enjoy receiving a stock dividend, augmenting their investment returns. Focusing on silver and battery metals, the Company positions itself as a prominent player in the critical energy metals sector, offering exciting opportunities for investors wanting to participate in the energy transition.
The Company also employs advanced Re-2Ox processing technology, ensuring environmentally compliant production of battery metals (no smelting, burning or discharge with clean hydroelectricity plentiful in Canada). Investors seeking exposure to the promising stock should consider Canada Silver Cobalt Works Inc., considering its expanding operations and promising future in Canada’s silver and cobalt production landscape.
Canada Silver Cobalt Works Inc. (CCW) – Projects
Castle East Project, a grassroots discovery by Canada Silver Cobalt Works, has shown remarkable results as surface drilling intersected massive native silver grades up to 89,853 g/t (2,621 oz/ton) at the Castle East Robinson Zone, located just 2 km east of the Castle Mine shafts. The initial 43-101 resource estimate unveiled a substantial 7.56 million ounces of inferred silver resources at an average grade of 8,582 g/t (250.2 oz/ton), the world’s highest silver resource grade.
The project’s drill results unveiled eight new vein structures, boasting impressive grades of up to 89,853 g/t silver and 2.24% cobalt. Recent results from the drill core at the 50 m level indicated more than 4,000 g/t silver, opening up the potential for discoveries at shallower depths. These high grades are rarely encountered in prime silver exploration areas in Mexico and South America. CCW has also completed the baseline study for environmental assessment and engaged ALS Goldspot (formerly EarthLabs Inc.) to support technical staff in AI-based drill target analysis.
Fig.2 Castle East Project
Canada Silver Cobalt Work’s past-producing Castle Mine Project is a significant asset, situated 85 km northwest of Cobalt, Ontario. Originally spanning 2,815 hectares, the property has expanded to 7,800 hectares (78 km sq). In 2015, the Company published the NI 43-101 Technical Report on the Castle Mine Property, highlighting the potential to resume silver-cobalt mining. The mining approach involved drilling from underground to locate high-grade silver veins, with the potential for extensive veins with varying silver and cobalt grades. Exploration has revealed untouched silver and cobalt deposits, enhancing the economics of Canada Silver Cobalt Works’ production.
Fig.3 Castle Mine Project
The Beaver Mine, a long-neglected early discovery and now a project of Canada Silver Cobalt, showcases significant silver-cobalt potential. The property includes a patented mining claim with surface and mineral rights near the town of Cobalt. Past mining at Beaver produced 7.1 million ounces of silver and 139,000 pounds of cobalt between 1907 and 1940. When in operation, the mine was considered to be one of the highest-grade mines operating in the Camp and recent surface samples confirmed that high-grade rock is still present. The property features two shafts reaching 48.78 meters and 8.5 miles of drifts and crosscuts. Management plans diamond drilling to test a flat fault on the lower contact.
Fig.4 The Beaver Mine
Eby-Otto Project: Highly prospective Gold Property
Canada Silver Cobalt Work’s Eby-Otto Project is a promising mining claim package spanning 1,000 hectares near the Kirkland Lake Gold camp area. In 2021, the Company acquired the prospects and obtained permits for diamond drilling, geophysics, and line-cutting. Preliminary sampling guided future drill planning. In 2022, further sampling, field mapping, channel sampling and preliminary drilling were conducted to identify high-value drill targets. At the north end of the Eby-Otto Project, gold-bearing quartz veins have been exposed during the stripping process. Situated on the Larder Lake-Cadillac Break and close to Macassa Gold Mine, the Eby-Otto Property offers a promising opportunity for gold exploration.
Fig.5 Eby-Otto Project
Temiskaming Testing Labs is a fully certified assay laboratory and bulk processing facility in Cobalt, the Cobalt Camp’s heartland. The recent acquisition of this facility enables vertical integration, offering multiple revenue streams, including bullion pouring, bulk sampling, commercial assaying, and e-waste processing. Located near rail lines and the Castle and Beaver properties, it holds potential as the new home for the environmentally friendly Re-2OX Process, which is geared to producing the cobalt and nickel sulphates needed by EV battery manufacturers.
Fig.6 Re-2Ox Flow Sheet
About Frank Basa and Canada Silver Cobalt Works Inc. (CCW)
Frank J. Basa, P. Eng., Chairman and CEO of Canada Silver Cobalt Works Inc. (CCW), possesses extensive global experience in mining and development, spanning over 28 years. He excels in refining precious and base metals as a professional hydro-metallurgical engineer. Holding a Bachelor of Engineering in Metallurgy and Metallurgical Engineering from McGill University, Mr. Basa is a certified P. Eng. by the Professional Engineers of Ontario (P.E.O.).
His leadership extends beyond CCW, as he serves as a director and president of various public companies, leveraging his 30 years of expertise in hydrometallurgical engineering.
Fig.7 Frank J. Basa, Chairman and CEO of Canada Silver Cobalt Works Inc. (CCW)
Canada Silver Cobalt Works Inc. (TSX-V: CCW) – Company Financials
In 2023, Canada Cobalt Works (CCW) has been actively working on various strategic initiatives to strengthen its position in the market and create value for shareholders.
Despite challenges, CCW’s strategic spinout of battery metals projects aims to benefit shareholders with dividends, cementing its position as a leading player in battery, cobalt & silver stocks. The Company’s stock trades at CAD 0.055 on the TSX Venture Exchange. The Company’s shares fluctuated within a 52-week range of CAD 0.135 to CAD 0.045 per share.
Investors Outlook:
- Canada Silver Cobalt Works Inc. (CCW) is a leading silver and cobalt stock listed on TSXV (TSX Venture Exchange) with a 52-week high/low of CAD 0.135/0.045, currently trading at CAD 0.055. The stock is also listed on the U.S. OTCQB under the symbol CCWOF.
- As of today, the market capitalisation of CCW stands at $14,349,223.
- CCW’s environmentally compliant Re-2Ox processing technology and positioning in Canada’s silver-cobalt space show significant potential.
- With impressive exploration achievements and battery metals potential, CCW presents exciting opportunities for investors seeking exposure to the cobalt stock market.
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