Canada Silver Cobalt & Granada Gold Mine Joint Release on Re-2Ox and Recovery of Critical US Strategic Metals
COQUITLAM, March 30, 2021 - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada Silver Cobalt") and Granada Gold Mines (TSXV: GGM) (OTC: GBBFF) are pleased to jointly announce that early analysis indicates the potential for the Re-2Ox (https://www.re-2ox.com/) 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 Re-2Ox process was previously used in the production of 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 (refer to CCW Press Release August 15, 2018).
- Processing of mineralized core involves using one of the conventional mineral processing steps: gravity concentration, magnetic concentration or flotation.
- Bench scale leach testing to be done on the Granada rare earth and alkali concentrate.
- Pilot plant leach testing to be done on the Granada rare earth and alkali concentrate.
The U.S. Department of the Interior published a final list of the 35 metals deemed critical to U.S. National Security and the Economy. To view the original U.S. government list, follow this link: https://www.usgs.gov/news/interior-releases-2018-s-final-list-35-minerals-deemed-critical-us-national-security-and. The following is a list of the 14 metals now known to be present in various concentrations at the Granada Gold Mine property's new discovery on the Big Claim in the 588-meter GR-20-20 hole: arsenic, barite, cesium, cobalt, gallium, hafnium, magnesium, manganese, rubidium, scandium, strontium, tungsten, vanadium, and zirconium.
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.
CEO Frank J. Basa, P.Eng., commented that "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. 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."
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc. member of Québec Order of Engineers and a qualified person in accordance with National Instrument 43-101 standards.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp in May 2020. A total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters, was identified. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020 and a signature date of July 13, 2020.
Canada Silver Cobalt's flagship Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper in the prolific past-producing Gowganda high-grade Silver District of Northern Ontario. With underground access at Castle, 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.
"Frank J. Basa"
Frank J. Basa, P. Eng.
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Frank J. Basa, P.Eng., Chief Executive Officer, 416-625-2342