Saturday, November 16, 2019

Canada Cobalt Works Profile

Canada Cobalt Works Inc. (formerly Castle Silver Resources Inc.) is a growing cobalt focussed Company with past producing Canadian cobalt/silver mines under exploration, a proprietary metal separation process for efficient cobalt extraction plus a cobalt recovery division set up to recover cobalt from spent batteries. The Company is moving forward on all fronts with cobalt prices continuing to rise due to supply shortfalls as battery production ramps up to meet the increasing global demand for electric vehicles. In addition to the Castle cobalt silver mine profitably operated by Agnico Eagle Mining in the 1980’s, the Company also has 100% ownership of the Beaver and Violet cobalt silver mine properties located near Castle.  Roughly 300,000 pounds of cobalt was mined at Castle over the years, see August 3rd 2015 Technical Report with Beaver having historical documented cobalt production of another 140,000 pounds.

Canada Cobalt Works Websitewww.canadacobaltworks.com
Stock SymbolTSX: CCW, OTC: CCWOF
SEDAR ProfileSEDAR - Canada Cobalt Works Inc.
Investor DeckCorporate Presentation - Essential metals in renewable energy
Company ProjectsCastle Cobalt Silver project: The former cobalt and silver producing Castle cobalt silver mine property is located 85 kilometres northwest of the historic Cobalt silver mining camp. As of December 2017, the Castle Mine site property comprised 19 claims, 34 leases and two licenses of occupation totalling 2,815 ha. This is a significant five-fold increase from the original 564 hectares.

As part of the winter drill program in 2011, a significant intersection of 3.09 metres grading 6,476 grams per tonne silver was found in drill hole CA-1108, one of 12 holes comprising the 2011 6,000-metre program. At that time, the property was under control of Gold Bullion Development Corp (now Granada Gold Mine Inc.) See press release dated August 25, 2011.

Beaver Cobalt Silver Property: The Beaver property consists of one single 20-acre patented mining claim and includes surface and mineral rights. The physical location of the property is near the town of Cobalt specifically, N part, NW1/4, N1/2 Lot 1, Concession III in Coleman Township.

Beaver Consolidated Mines Ltd. produced 221.7 tonnes silver (7,127,858 ounces) from the Beaver Property between 1907 and 1940. According to historical records, the silver was mined from near-vertical Ag-Co-Ni veins near the upper contact of a shallow Nipissing diabase intrusive. This intrusive crosscuts Archean age sedimentary and volcanic rocks. The Beaver mine also produced 140,000 pounds of cobalt at an average of 1.4 pounds per tonne during this same period. Source: Sergiades, 1968.

Violet Cobalt Silver Property: Violet produced a total of 897,291 ounces of silver from 1919-1925 after which mining operations were suspended until 1951 – 1952. Production numbers available from the 1950’s activity were grouped in with other mines in the Cobalt camp. It is not possible to extract the numbers for Violet only due to the nature of the historical data, as records on the Violet property are sparse and incomplete. The data and information relied upon originated from the Ontario Department of Mines, R. Thomson March 1961 except where other sources are cited.

Through the year 1966 over 25 million pounds of cobalt was produced in the Cobalt region, the surrounding area of the Violet property location. Available data is not uniformly segmented by mine source with some exceptions. No records exist with the respect to the amount of cobalt produced from the Violet property however it is presumed there was a significant quantity as noted by R. Thomson, March 1961.

CCW Research Center

*Analyst Reports may not be sorted by date. Please refer to company website for original time stamp.