Canada Silver Cobalt Works Inc. (TSX-V:CCW) has told investors that the results of an FL-TDEM (time-domain electromagnetic) geophysical survey at its Graal nickel-copper-cobalt property in the Lac St-Jean region of Quebec support the property’s potential for growth as the company moves to become an important supplier of fresh rock battery metals.
The exploration company said the survey identified a geophysical anomaly 1.7 kilometres (km) long by 850 metres (m) wide characterized by high conductance.
It noted that two sites have been successfully investigated with the ground electromagnetic (EM) survey; one around the discovery hole NRC-21-02, and one in the northeast sector within the contour of the max/min conductor.
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Canada Silver Cobalt said it also completed borehole EM surveys in several holes to assist in providing additional targets around the existing holes. An extensive presentation on each sector has been received from the specialist which shows the data processing methods and modeling of the anomalies.
"The conclusion of the ground electromagnetic survey needs to be verified by drilling and the company is taking steps to move in that direction,” the company’s president, chief operating officer and vice president for exploration, Matt Halliday, said in a statement. “We intend to give immediate attention to the large 1.7 km by 850m high conductance dipping about 30 degrees west. Requests for drilling permits in this new area are in preparation as well as mandating Laurentia and a drilling contractor in order to start drilling this Phase 2 with several targets of interest as soon as possible.
The response in the northeast sector indicates that the layer may be representative of a weakly connected sulphide layer, such as a disseminated to stringer-based sulphide with a massive to semi-massive copper-nickel deposit, the company said, adding that the BHEM survey results indicate that this large layer is not uniform and homogenous.
The modeling suggests that thicker, more conductive, or even multiple zones are present and that there may be large areas of low-grade mineralization in addition to having more localized areas of a higher grade.
“The information we have so far shows this property has significant potential for growth and fits with our objective to become an important supplier of fresh rock battery metals material for the EV market," Halliday concluded.
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