Canada Silver Cobalt Works Inc (CVE:CCW) (OTCMKTS:CCWOF) (FRA:4T9B) said it will work together with Granada Gold Mines (CVE:GGM) (OTCMKTS:GBBFF) to assess using CCW's proprietary hydrometallurgical Re-2Ox process on the rare earth and alkali metals, which have been found at Granada's gold mine project in Quebec.
As announced on March 26, 2021, Granada reported, in preliminary drill findings, 13.5 parts per million (ppm) Cesium (Cs), 101.8 ppm Rubidium (Rb), and 21.0 ppm Scandium (Sc) over an intercept of 12 meters (m) from a depth of 351m to 363m in one hole.
READ: Granada Gold Mine reports "significant" discovery of Scandium, Rubidium and Cesium from Quebec property
Rubidium is an alkali metal and its uses include biomedical research, electronics, specialty glass, and pyrotechnics. Rare earth Scandium is used in high-intensity lighting and mercury vapor lamps. Cesium metal is used in the production of cesium compounds and potentially in photoelectric cells.
Early analysis indicates the potential for the Re-2Ox process to be used for the "extraction of rare earth and alkali metals, which have recently been found at the Granada Gold Mine property", the companies said in a joint statement.
The Re-2OX technology is a process designed to efficiently extract cobalt and produce cobalt sulphate to specifications required by battery sector end-users.
It has been used to produce a cobalt sulphate compound at SGS Canada for end use in lithium-ion batteries at Canada Silver Cobalt's Castle property from a high-grade silver, cobalt and arsenic gravity concentrate.
"Both companies will continue to work together on this initiative and will look at market demand fundamentals for the rare earth and alkali metal compounds prior to commencing bench scale testing," the statement said.
"We appear to have 40 percent of the metals deemed critical to the US national security - everything that is now coming into focus as being in short supply in the western world," said Frank Basa, CEO, refering to the Granada gold mine.
"These recent developments are extremely exciting given that the timing coincides with an awareness that many countries must play catch up quickly. Given the well-documented 2020 challenges in sourcing metals, this is resonating in a big way."
Contact the author at giles@proactiveinvestors.com