The tailings program will initially target silver and gold and will be optimized through the Re-2OX process to recover other metals including cobalt, nickel and copper.
Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”), a technology leader in the Northern Ontario Cobalt-Silver Camp, is pleased to announce that the Company has added another catalyst to its first half 2019 strategy – a unique and environmentally friendly program with a plan to develop cost-effective near-term recovery of silver and gold mineralization from an historic tailings area approximately 300 meters from the #3 Shaft at the Castle mine.
The Company considers the tailings very prospective for high-grade silver and other metals, including gold and cobalt, based on historical records and just-received results from SGS Lakefield which has produced a gravity concentrate from the tailings grading 389 g/t silver, 0.63 g/t gold and 0.20% cobalt.
The tailings program will initially target silver and gold and will be optimized through the Re-2OX process to recover other metals including cobalt, nickel and copper. It will also be used as a template by the Company for similar potential initiatives in Gowganda and elsewhere in the broader region where innovative approaches to decades-old tailings issues can deliver important environmental solutions as well as potential business growth opportunities.
Frank J. Basa, Canada Cobalt President and CEO, commented:
“The tailings ‘problem’ in Northeast Ontario’s historic silver-cobalt mining district is really a tailings ‘opportunity’, and our intention is to capture that opportunity for Canada Cobalt shareholders. We’ve been a leader on multiple fronts in this district. We look forward to working closely with our First Nation partners and the Ministry of Mines to implement a tailings program at Castle that can be a model for similar initiatives in the Gowganda Camp and elsewhere throughout the region from the town of Cobalt to Silver Centre,”
The above program is part of an amendment to the Company’s advanced exploration permit with the Ontario Ministry of Northern Development and Mines.