Canada Silver Cobalt Works Inc has announced the conclusion of its latest acquisition that completes the consolidation of 6 kilometres (km) of mineralized strike length.
The company said the land included in the new acquisition from Soquem Inc and Mines Coulon Inc, announced on November 22, 2021, bolsters the potential at its Graal property with further geophysical anomalies with conductor continuity and historical drill holes containing nickel, copper, and cobalt near-surface.
“We have accumulated a strategic land package across Ontario and Quebec,” Canada Silver Cobalt Works' president, chief operating officer and vice president for exploration Matt Halliday said in a statement.
READ: Canada Silver Cobalt announces increased land package with acquisition at Graal property in Northern Quebec
“This is just the beginning. From what we see already at Graal we have put together the right pieces. It seems all the elements are there to develop a new world-class camp with a vision of EV (electric vehicles) and critical metals development. The evidence points to a large deposit; and we are working to develop it and continue to be a leader in the critical metals space," Halliday added.
Based on historical drill hole information, Canada Silver Cobalt said the mineralized strike length drilled in the past highlights a potential target of near-surface tonnage of 30 to 60 million tonnes at a grade range of 0.6% to 0.8% nickel and 0.3% to 0.5% copper, with 0.1% to 0.15% cobalt.
The calculation excludes newly discovered mineralization announced on November 24, 2021, the northern Lac Suzanne portion, and the south portion of Nourricier sector, the company added. It also does not take into account any potential at depth that is currently being explored.
The company cautioned that the quantity and grade of the potential target calculation are conceptual in nature, and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the target being delineated as a mineral resource, it said.
The potential target primary evaluation is a calculation of the length multiplied by the thickness of intersection by the density of 3.3 to 4.0 tonnes per cubic metre (m) multiplied by the depth extension of 150m to 250m based on historical drill holes.
Canada Silver Cobalt said it has started receiving technical information from Soquem and will soon have access to all historical data as well as any core preserved at the Soquem storage facility in Chibougamau.
Canada Silver Cobalt’s flagship silver-cobalt Castle mine and 78 square kilometre Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper.
With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates on-site, a processing facility (TTL Laboratories) in the town of Cobalt, 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 Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space.
Contact the author at stephen.gunnion@proactiveinvestors.com