Canada Silver Cobalt Works Inc has provided an update on exploration activity at its Graal nickel-copper-cobalt discovery in the Lac St-Jean region of Quebec.
The update includes the most recent assays results from drill hole NRC-22-24 which intersected 13.1 meters (m) of combined massive sulphides within a 30m zone of disseminated and massive sulphides in a new area located 5 kilometer (km) from the previously reported discovery of massive sulphides.
"The results coming in from the labs for the drill program at Graal continue to be exciting for our geological team,” said Matt Halliday, president, chief operating officer, and vice president of exploration, in a statement. “Almost every drill hole has encountered disseminated to massive sulphides with strong nickel, copper and cobalt mineralization. We intend to continue to explore further to determine the full size of this nickel-copper cobalt deposit as it appears to have the potential to become an important supplier of battery metals for the EV market.”
READ: Canada Silver Cobalt Works hits nickel, copper and cobalt mineralization in drilling at Graal property, Quebec
The company said the drilling campaign with 7,772m drilled so far has been paused to allow reception of pending assay data, bore-hole EM data, and the completion of the SQUID Ground Geophysical Survey. The geophysical survey aims to more accurately pinpoint and outline the geophysical conductors as well as identify areas where significant thicknesses are located.
The company previously reported a major discovery of massive sulphides with high-grade nickel, copper and cobalt mineralization along with platinum and palladium in the northwest corner of the property where an airborne geophysical survey had indicated a sizeable gravity anomaly. The first three drill results reported in this location (NRC-21-02-03-04) showed segments up to 2.08% nickel and 3.75% copper. More assays are pending.
In addition, about 5 km to the southeast, the company also drilled hole NRC-22-24 in a spot that had not yet been drilled along the 6 km conductor continuity where a previous ground geological survey had indicated a gravity anomaly.
This drill hole (NRC-22-24) intersected 13.1 meters of combined massive sulphides within 30 meters of disseminated and massive sulphides between 121.5-152.1m downhole. Drill hole NRC-22-24 was drilled at an azimuth of 115 degrees, dip of -55 degrees, and is located at UTM 386142E, 5521057N. The other pending assay results will be released once received and validated.
These latest assay results support the previously estimated potential target along the 6 km conductor continuity of near-surface tonnage of 30 to 60 million tonnes at a grade range of 0.60% to 0.80% nickel and 0.30% to 0.50% copper with 0.10% to 0.15% cobalt. This estimation does not take into account any potential at depth that is currently being explored.
In addition to diamond drilling, bore-hole EM geophysics surveys was completed on several of the holes that intersected nickel and copper sulfides. The team is awaiting both the data and the geophysical report. The EM survey should assist in targeting the most prospective anomaly within a 100-meter radius from the existing holes. The mineralization remains open in all directions and at depth.
The company said the next phase of drilling in 2022 will focus on the areas identified by the SQUID survey. The drill program is currently being managed by Laurentia Exploration in association with GoldMinds Geoservices Inc.
New CFO named
In other company news, Canada Silver Cobalt announced that Robert Suttie has been appointed as its chief financial officer. He started on April 1, 2022, replacing Ryan Webster.
The company noted that Suttie currently works with Marrelli Support Services as its president, possessing more than 20 years of experience, 10 of which were in public accounting prior to his tenure with the Marrelli organization.
He specializes in management advisory services, accounting, and the financial disclosure needs of the Marrelli group's public client base. Suttie also serves as CFO for a number of other junior mining and technology companies listed on the TSX Venture Exchange and the Canadian Securities Exchange, leveraging his skills and experience to become integral to the reporting issuers.
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