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Canada Silver Cobalt Consolidates property near Agnico Eagle's Macassa Mine for potential 5km strike length

Feb 14, 2022

Canada Silver Cobalt Works Inc. has entered into an Option Agreement to acquire the 190 hectares, known as the Allsopp property to expand it's prospective Eby-Otto gold property near Agnico Eagle's Macassa Mine.

Acquisition Highlights:

  • The Property lies within the prolific Kirkland Lake district and is located 5 km southwest of the high-grade Macassa Gold Mine currently operated by Agnico Eagle. It is contiguous to claims owned by Agnico Eagle towards the northeast.

  • This acquisition fills in key gaps covering geologically favourable areas within the 810-hectare Eby-Otto property acquired in 2021 and contains key features such as a historic shaft and exposed veins near surface containing base metal mineralization.

  • The total land package increases to 1,000 hectares and significantly extends the strike length of the Eby-Otto fault coverage. 

  • This consolidation more than doubles the strike length along a major alteration trend (OGS OFR 6184, see Figure 1 below), which is commonly indicative of potential gold mineralization seen in the Kirkland Lake-Larder Lake areas.

Matthew Halliday P.Geo, President of Canada Silver Cobalt Works stated, "We are geared up to accelerate this project in 2022. We have a team with proven success in the Kirkland Lake camp and we are ready to take action and bring real value to this property. We will be completing a drone survey to collect some important geological information very soon, and this will help us make informed decisions as we begin work on these properties. We want boots on the ground and the drill bit turning as soon as possible."

These new claims are extremely interesting because of the host rocks seen in outcrop, sulphide mineralization, and alteration zones. The rocks in this claim package show similar parallels to the South Mine Complex at Macassa, which is characterized by finely disseminated pyrite, wide alteration zones, and quartz veining and/or flooding. In addition to this, the surrounding Eby-Otto claims comes highly recommended by Doug Robinson, a highly respected geologist with an exceptional record of precious metal discoveries over the past 50 years. These new gold properties have our geologists very excited about the upcoming field season. The 2022 exploration plan for the newly consolidated Eby-Otto property includes drone geophysics, stripping of outcrops, channel sampling, and geological mapping. Results of this field season help refine and add to the planned drill program. 

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