EDITOR: | November 14th, 2018 | 1 Comment

Re-2OX plus cobalt, nickel and silver high grades equals Castle Mine

| November 14, 2018 | 1 Comment
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Cobalt is an essential metal in electric car batteries, phone batteries, and in industrial and military applications. Cobalt is used in 3 of 4 key lithium-based electric car batteries. A significant supply deficit is expected as supply is constrained. 94% of cobalt is produced as a by-product of nickel and copper mining.

Canada Cobalt Works Inc. (TSXV: CCW | OTCQB: CCWOF) is a growing cobalt company focused on their past producing Castle Mine in Canada’s most prolific cobalt district, the Northern Ontario Cobalt Camp. Although they are focused on cobalt mines they also have a proprietary metal separation process for cobalt extraction (Re-2OX) plus a recovery division set up to recover cobalt from spent batteries. 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.

Canada Cobalt Works is the only company in the Cobalt Camp with permitted access to underground workings and is the first company to drill underground. The first level of mine drilling began in June 2018 targeting cobalt-rich veins.

The Castle Mine

On November 2, 2018 the Company announced that drilling on the first level of the Castle Mine has returned high-grade cobalt, nickel, and silver grades. The highlights from the first three drill holes include, 2.28% cobalt, 261 g/t silver and 1.65% nickel over 7.00 meters; 1.87% cobalt, 4,763 g/t silver, 1.29% nickel and 1.19 g/t gold over 2.54 m; and 3.16% cobalt and 10,741 g/t silver (345 ounces per tonne) over 0.60 meter. Drilling is now underway in a new discovery 1.5 km east of the mine with drill results pending.

The Beaver and Violet cobalt silver mine properties

In addition to the Castle Silver 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 current flavor of the month if not the year must be in historical mining. With prices increasing it is now more economically viable than ever before to revisit these past producing mines. Increasing demand in any metal related to the electric vehicle boom and the mass battery storage market is worth looking at for any investor.

Canada Cobalt Works Inc. with their focus on cobalt also has other factors to think about. Globally speaking their proprietary metal separation process called Re-2OX could also be a big earner for the Company one day. With Castle Mine returning high cobalt, nickel and silver grades, Canada Cobalt Works Inc. is worth keeping an eye on for any investor.

Canada Cobalt Works Inc. has a market cap of C$47m.


Matthew Bohlsen

Editor:

Matthew Bohlsen holds a Graduate Diploma in Applied Finance and Investment (similar to CFA), and a Graduate Diploma in Financial Planning. He has 30 years ... <Read more about Matthew Bohlsen>


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Comments

  • Rick Jensen

    I liked the article on cobalt and would like to know more

    November 14, 2018 - 11:02 PM

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