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Canada Silver Cobalt Intersects 13.1 Meter Massive Sulphides Zone with Nickel, Copper and Cobalt Close to Surface at Graal Battery Metals Property in Quebec

Apr 4, 2022

Canada Silver Cobalt Works Inc. is providing an update on exploration activity at its Graal nickel-copper-cobalt discovery in the Lac St-Jean region of Quebec, including the most recent assays results from drill hole NRC-22-24 which intersected 13.1 meters of combined massive sulphides within a 30-meter zone of disseminated and massive sulphides in a new area located 5 km from the previously reported discovery of massive sulphides.

"The results coming in from the labs for the drill program at Graal continue to be exciting for our geological team. Almost every drill hole has encountered disseminated to massive sulphides with strong nickel, copper and cobalt mineralization. We intend to continue to explore further to determine the full size of this nickel-copper cobalt deposit as it appears to have the potential to become an important supplier of battery metals for the EV market," stated Matt Halliday, P.Geo., President, COO and VP Exploration. 

The drilling campaign with 7,772m drilled so far has been paused to allow reception of pending assay data, bore-hole EM data, and the completion of the SQUID Ground Geophysical Survey. The geophysical survey aims to more accurately pinpoint and outline the geophysical conductors as well as identify areas where significant thicknesses are located. 

The Company previously reported a major discovery of massive sulphides with high-grade nickel, copper and cobalt mineralization along with platinum and palladium in the northwest corner of the property where an airborne geophysical survey had indicated a sizeable gravity anomaly. The first three drill results reported in this location (NRC-21-02-03-04) showed segments up to 2.08% nickel and 3.75% copper. (See news release March 3, 2022.) More assays are pending.

In addition, about 5 km to the southeast, the Company also drilled hole NRC-22-24 in a spot that had not yet been drilled along the 6 km conductor continuity where a previous ground geological survey had indicated a gravity anomaly (see Figure 5 map below). 

This drill hole (NRC-22-24) intersected 13.1 meters of combined massive sulphides within 30 meters of disseminated and massive sulphides between 121.5 - 152.1 meters downhole. Drill hole NRC-22-24 was drilled at an azimuth of 115 degrees, dip of -55 degrees, and is located at UTM 386142E, 5521057N. The other pending assay results will be released once received and validated.

See Table 1 below for assay data, Figures 2 & 3 for core photos, Figure 4 for a cross section of the drill hole and Figure 5 for a map of Graal property). 

These latest assay results support the previously estimated potential target along the 6 km conductor continuity of near-surface tonnage of 30 to 60 million tonnes at a grade range of 0.60% to 0.80% nickel and 0.30% to 0.50% copper with 0.10% to 0.15% cobalt. This estimation does not take into account any potential at depth which is currently being explored.

Please note that the quantity and grade of this potential target calculation is conceptual in nature, and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the target being delineated as a mineral resource. The potential target primary evaluation is a calculation of the length multiplied by the thickness of intersection by the density of 3.3 to 4.0 t/m3 multiplied by the depth extension of 150 to 250m based on historical drill holes.

In addition to the holes drilled by Canada Silver Cobalt, there are historical intersections including hole 1279-00-10 drilled by Mines d'or Virginia Inc. in June 2000 approximately 200m south of NRC-22-24. This intersection is not part of the gravity anomaly, yet it still returned 1.15% Ni, 0.56% Cu and 0.15% Co over 4.5 meters (Source :GM 58815) which suggests the mineralization may be larger than the geophysical anomaly itself.

Tags: Quebec / Exploration / Battery Metals / All Articles