It seems like more Canadian companies are striking major deposits in the land’s mining districts. Canada Cobalt Works, Inc. (TSXV:CCW) made a big announcement for its investors as its current projects recently came across an apparent syenite-hosted gold system with cobalt potential in proximity.
The new system was discovered when the company’s two widely-spaced drill holes intersected with each other in an undrilled area of the Castle Property near Gowganda which is a high-grade silver camp 75 km away from Kirkland Lake. This should be great news for investors as the company’s recent discovery could yield tremendous gains.
The company’s consulting geologist Doug Robinson said that The Archean rocks at Gowganda have never been systematically explored as previous work in the area focused on exploiting the silver-rich Nipissing diabase while bypassing the cobalt.”He adds that the recently discovered drill holes are a big breakthrough. The company is also currently investigating the gold system that could also have sulfide and quartz veining.
Robinson said that by using oriented core drilling, the company will be able to pin down critical sub-horizontal and sub-vertical structures that are associated with the fault and the IP anomalies they are working on. The current area below the Archean sulfides in Nipissing diabase they are working on also holds high potential for the discovery of cobalt-silver mineralizations.
Furthermore, Canada Cobalt Works announced that the Phase 1 drilling on the first level of the Castle mine is already completed. Future work in Wood including winterizing will be continued. The next phase of the project is already scheduled to commence in the New Year. At this time, the results of the first phase will be interpreted for the benefit of shareholders.
Explorex Resources begins initial phase in Kagoot Brook project
A lot of cobalt deposits are being discovered in Canada. Canadian junior miner Explorex Resources (CSE:EX) recently announced that it had mobilized its workforce to start a maiden drill program at a cobalt-manganese base metals Kagoot Brook project in New Brunswick, Atlantic Canada.
The initial two-hole 500-meter drill program is going to drill one partial hole across the target. According to Explorex Resources, the initial phase will be completed upon the return of the technical crew in the New Year. It also said that it will reveal the initial results shortly after.
With the project, Explorex Resources is hoping to graduate from its status as a junior miner in Canada. If the current project showcases amazing results, Explorex Resources will have a lot to offer for the cobalt industry.
These mining companies in Canada are very busy even in the latter parts of 2018. They are going to barge into the coming year with a lot in two so investors should begin eyeing which of the brands are going to be amazing buys in 2019. For now, it seems like Explorex Canada and Canada Cobalt Works are extremely good candidates for buying.