Shares of Canada Cobalt Works Inc. (TSXV:CCW) have surged more than 68% during the past three months
SmallCapPower | February 6, 2020: Canada Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) shares have been climbing quietly since this past November, up more than 68% to its current price of $0.59. Sparking this move seems to be the Company’s discovery of high-grade silver, gold, nickel and cobalt in multiple zones at its 100% owned Castle Mine property in the past-producing Gowganda high-grade Silver Camp of northern Ontario.
As well, on January 10, 2020, Canada Cobalt Works closed its agreement to acquire the only facility in the Northern Ontario Silver-Cobalt district that combines bullion pouring, bulk sampling, commercial assaying and e-waste processing – PolyMet Labs. The Castle Mine was the highest-grade silver mine (with cobalt as a by-product) operated by Agnico Eagle Mines Limited (TSX:AEM) in the 1980s. It was closed down only because the silver price fell to US$6 per ounce.
Here’s some investment catalysts that could continue to propel shares of Canada Cobalt Works, this according to the Company:
* Castle East Robinson Zone — Massive native silver grades up to 70,380 g/t silver (2,053 oz/ton) with follow-up drilling showing a large target horizon in a previously unexplored area. Drilling is continuing and additional results are pending.
* Level 1 underground — an unexpected discovery of high-grade gold (up to 22.7 g/t gold) along with high-grade silver, cobalt and nickel.
* This new gold discovery is in addition to earlier Level 1 drilling intersecting another previously unknown rich silver vein system missed in past mining — grading up to 13,208 g/t silver (385 oz/ton).
* Acquisition of PolyMet Labs (now known as Temiskaming Testing Laboratories), an ISO certified metals processing facility achieves a key goal of CCW becoming a vertically-integrated leader in Canada’s silver-cobalt heartland.
* Silver bars poured recently as a proof of concept test at the PolyMet facility — illustrating the potential for significant silver production along with cobalt from surface waste material and tailings.
* Lab testing of the proprietary Re-2OX process continues – Re-2OX metallurgical process has successfully produced a cobalt sulphate to battery industry specifications with additional testing of nickel-manganese-cobalt (NMC) formulations planned.
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