Canada Silver Cobalt continuing work on Eby-Otto Gold Property near KL

Canada Silver Cobalt Works Inc. has recently began advancing the field work component of Phase 1 for its exploration plan at the Eby-Otto gold property near Kirkland Lake. 

To date, the Company has:

• Identified several key areas for outcrop stripping and channel sampling. All stripping permits are in place. The Company has mobilized the team to begin in areas that have existing access and will expand the extent of the field work as the access trails are created. Channel sampling will take place as the stripping progresses. 
• Initiated consultations with Matachewan First Nations. A site visit with the committee is scheduled for August 26. 
• Identified and planned the placement of drill trails that will allow access to key locations within the property. The forest and terrain at Eby-Otto is very thick and can be difficult to traverse at times. Creating these trails will allow our team to access these important areas in addition to acting as drill trails once the drilling begins. 
• Work has begun preparing the access trails for the upcoming drill campaign later this fall.

The Company has previously outlined the three exploration phases planned for the property: 

Phase 1: The first phase will consist of an initial site assessment to determine the logistics of future operations and will provide the Company time to receive any pending surface exploration work permits that will be necessary. Surveying will be completed for key Standard Iron Bars (SIB), legacy claim posts, and access points to refresh select existing cut line grids. An overall geological assessment will be completed based on field work consisting of geological mapping, stripping key outcrops, and possibly further MMI geochemical or targeted and detailed ground geophysics if the technical team deems it necessary. As part of Phase 1, the Company has recently concluded a drone magnetic survey on the entire claim package conducted by EarthEx Geophysical Solutions Inc. The survey was completed at a tight enough line spacing and low enough altitude conducive for identifying smaller structures, such as vein systems, to be resolved and visible. 

Phase 2: The second phase of exploration will be based on the results from Phase 1 and will expand to include diamond drilling to intercept specific regional structures based on the initial geophysical data provided by the drone magnetic survey, historic geological data, regional geophysics, geological mapping, and existing electromagnetic (EM) surveys completed by geologist Doug Robinson prior to the Company's acquisition of the property. 

Phase 3: The third phase of exploration will expand on the drilling and field work outlined in Phase 2. Once the 3D inversion of the drone mag survey is received and the data has been interpreted, the technical team will correlate this data with known mineralization that has been identified via field work to better refine the targets, and adjust the exploration accordingly. 

The Company now has three option agreements covering 1,000 ha at the Eby-Otto property, and includes approximately 5km of strike length along the Eby-Otto Fault and along a major alteration trend (OGS OFR 6184). The property is within the Kirkland Lake gold district in northeastern Ontario and is located within 5km of Agnico-Eagle's producing, high-grade Macassa Gold Mine.

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