Canada Silver Cobalt Works Inc (TSX-V:CCW, OTCQB:CCWOF) has finalized and signed an option agreement to acquire a large prospective LCT (lithium-cesium-tantalum) pegmatite land package near its Power Metals Case Lake project in Ontario.
The company has strategically staked a large package surrounding both the claims provided by the agreement and claims adjacent to the Power Metals Case Lake LCT Lithium project, for a total holding of nearly 240 square kilometers.
“The location, size, and proximity to existing lithium discoveries has our team excited to get started working on this property,” VP of Exploration Gerhard Kiessling said in a statement. “With the demand for lithium increasing, we feel that we are in the right place at the right time, and are currently in the process of planning a substantial exploration program for the 2023 field season.”
READ: Canada Silver Cobalt Works sees extensions of potential mineralized vein material to recover precious metals and battery metals at Castle Mine
Specifically, the claim package is contiguous with Power Metal’s Case Lake Lithium property to the east. That includes the West Joe Dyke and Main Dyke areas, which have seen significant lithium grades such as 1.86% lithium over 19 meters in hole PWM-22-135, 1.58% lithium over 15 m in PWM-22-134 and 1.11% lithium plus 2.15% cesium over 6.84 m in hole PWM-22-128.
In addition to location, the company prioritized that the property contains contact between Archean sedimentary rock and Archean massive to foliated granodiorite. This age of rock and type of contact is a common environment for the occurrence of LCT-type pegmatites.
The property covers approximately 52 kilometers of this potentially critical contact, according to a statement.
Additionally, very limited historical work has been done on these claims and geological mapping is available only at a large scale, thus the property has very significant potential for discoveries of new pegmatite dykes.
Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. Its flagship Castle Mine and Castle property near Gowganda in northern Ontario features strong exploration upside for silver, cobalt, nickel, gold, and copper.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel