Canada Silver Cobalt Works Inc. has secured up to CAD$3,000,000 in funding from Offset Market Exploration Program (OJEP) to support its pilot program for geochemical exploration at its Sangster and St-Denis properties. The funding will be used to evaluate the cobalt and nickel bearing properties from the two sites, located in the Cobalt camp of Ontario.
The properties are part of the Castle East and Castle West Complex. The two camps are close to each other and they both have high grades in cobalt and nickel. Silver Cobalt is looking to explore the potential of the two concessions for further development of the metals.
Silver Cobalt has also signed a joint venture with Teck Resources Ltd. Teck Resources is a global leader in the production and sale of commodities and materials used in multiple industries. The joint venture will allow both companies to conduct an in-depth assessment of the resources in the camps.
The geological team of Canada Silver Cobalt Works Inc. will conduct the geological exploration program and the technical activities including geochemical, geological, structural, core sampling and mineralogical studies. After the completion of the pilot program, the company will continue with the exploration of the Cobalt camp in hopes of discovering further resources with metal production potential.
Canada Silver Cobalt Works Inc. is positive that the OJEP funding will spur the expected geological investigations, as well as provide incentive for the development of near-term opportunities. With this added resource, the company looks forward to the success of the geochemical exploration program which is expected to yield positive results for the company.