Canada Cobalt Works is exceeding the technical specifications of cathode producers in Asia
Cobalt is used in alloys for aircraft engine parts and in alloys with corrosion resistant uses. Cobalt is widely used in lithium ion batteries and in electroplating, and cobalt salts are used to impart blue and green colors in glass and ceramics.
Canada Cobalt Works Inc. (TSXV: CCW | OTCQB: CCWOF) is a growing cobalt company focused on its past producing Castle Mine in the Northern Ontario Cobalt Camp, Canada’s most prolific cobalt district. In addition to the Castle Mine the Company also has 100% ownership of the Beaver and Violet cobalt/silver mine properties located near the historic Castle Cobalt Mine property. Roughly 300,000 pounds of cobalt was mined from Castle over the years, with Beaver having historical documented cobalt production of another 140,000 pounds. The Company also has a proprietary hydro-metallurgical separation process for efficient cobalt extraction called Re-2OX, as well as a cobalt recovery division set up to recover cobalt from spent batteries.
Canada Cobalt has assembled a pilot plant at its Castle property to produce bulk gravity concentrates that will be processed into cobalt sulfate. On August 15, 2018 Canada Cobalt announced that through its proprietary Re-2OX process, the Company has produced the first ever premium grade cobalt sulfate from its 100% owned Castle Mine. The 22.6% grade produced exceeds the technical specifications of cathode producers in Asia, who are in discussions with the company’s marketing representative in that region to evaluate Canada Cobalt’s sample product for potential battery sector use.
Frank Basa, President and CEO, commented: “Canada Cobalt has broken new ground as a technology leader in Canada’s most prolific cobalt district. We’ve now demonstrated that from concentrate produced from the Castle Mine, we can create a premium grade end product (cobalt sulfate) without a smelting process. This is a testament to the efficiency and effectiveness of Re-2OX, a process that’s very amenable to scaling up. We look forward to marketing the Canada Cobalt Re-2OX brand to the battery sector while we ramp up activity at the Castle mine both underground and at surface.”
Canada Cobalt has also been approached by various stakeholders in the district and elsewhere with respect to their Re-2OX process. The plan, as the battery sector continues to grow, is to leverage Re-2OX to capture the greatest value possible for shareholders.
August turned into a busy month as the Company also announced on the 24th that ongoing underground drilling has intersected visual cobalt mineralization in most of the 40 drill holes completed to date, covering a distance of 200 meters, while surface drilling of high value targets has commenced approximately 1.5 km east of the Castle Mine.
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Underground drilling supports Canada Cobalt’s geological model that vein structures untouched by first level mining in the 1980’s are enriched with cobalt-nickel arsenides and cobalt arsenides, two favored assemblages for the targeted cobalt mineralized system.
Canada Cobalt announced on September 13, 2018, that the OTC Markets Group has approved the upgrade and listing of the Company’s common shares on its OTCQB Venture Market under the symbol “CCWOF”.
It’s been a busy few months for Canada Cobalt with much happening not only with drilling results, but also exceeding technical specifications of cathode producers in Asia through its proprietary Re-2OX. Canada Cobalt Works are certainly working.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>