Canada Cobalt Works Inc. (TSXV: CCW) (OTCPK: TAKRF) (Frankfurt: 4T9B) is pleased to announce that as underground drilling on the first level of the Castle mine continues to intersect visible cobalt mineralization, with drilling extended to year-end, the Company has mobilized field crews to a potential new discovery area featuring a large circular basin approximately 1.5 kilometres east of the mine.
Surface mapping and trenching are now following up on encouraging geophysical surveys and MMI soil sampling. A drill rig is on standby in the event that high-quality drill targets are defined over the next 7 to 10 days.
Significantly, an extensive IP survey has revealed multiple conductive anomalies that are spatially associated with multi-element MMI soil anomalies. Three separate potential cobalt environments have been identified over a distance of approximately two kilometres north-south and nearly one kilometre east-west. Within this broad area, geologists are particularly focused on the possibility of a new type of cobalt deposit in the Gowganda Camp along the Archean-Proterozioc unconformity.
Frank Basa, Canada Cobalt President and CEO, commented: “We were already moving at high speed with success at underground drilling, a pilot plant on site and continued Re-2OX work at SGS Lakefield to produce a value added cobalt sulphate product. Data from this newly-defined area east of the Castle mine is another exciting development and warrants immediate follow-up.”