Canada Silver Cobalt Works Inc (TSX-V:CCW, OTCQB:CCWOF) (CCW) announced that it has received data from its Phase 2 drill program at the Graal-Nourricier-Lac Suzanne (Graal) property in Quebec, showing a visual estimate of up to 29.9 meters (m) of massive and semi-massive sulphides near the surface.
The resource projects developer said the near-surface mineralization has been intercepted as shallow as 50.5m downhole.
CCW noted it has decided to disclose the discovery at this time before releasing the assay results, which have been received and are currently being compiled, because near-surface massive sulphide zones of such length may be considered material under securities regulations.
READ: Canada Silver Cobalt Works readies Coniagas Battery Metals spin-out
The company added that it has completed 7,036m of diamond drilling as part of Phase 2 Graal, for a total of 16,794.6m of drilling during the 2021-2022 drilling campaign.
As well, CCW revealed that the two most important intersections discovered in the latest phase of drilling are from drill hole GRL-22-60 and GRL-22-61, which finished at 101m and 93m, respectively.
The company previously revealed plans to spin out the 6,113-hectare Graal property, which is targeting nickel, copper, and cobalt mineralization, into a new company called Coniagas Battery Metals.
Canada Silver Cobalt Works 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 Sean at sean@proactiveinvestors.com