COQUITLAM, BC, March 1, 2021 /CNW/ - Canada Silver Cobalt
Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada
Silver Cobalt") is pleased to announce a new battery recycling
initiative using the proprietary hydrometallurgical
Re-2Ox process.
Highlights
- The company has begun bench and pilot plant studies at SGS
Canada for battery recycling using the Re-2Ox process, which
is the only known hydrometallurgical process purposely designed and
adaptable to recover and recycle metals from Lithium-ion,
Nickel-hydride and Nickel-cadmium batteries.
- Core process chemistry of the Re-2Ox process is
adaptable to rare earth metals recovery from Nickel-hydride
batteries
- Battery-grade Cobalt Sulfate has been produced from a
multi-element cobalt concentrate using the Re-2Ox process at
SGS Canada to meet international battery specs.
The company has received electrodes of a commercial-grade
nickel-cadmium battery at SGS Canada to begin initial scoping
studies. Bench-scale testing followed by pilot plant studies will
be undertaken. The same procedure will be used on all three battery
types.
Recent data on global lithium-ion (Li-ion) battery sales
compiled from 2016 highlight a discrepancy between sales of 500,000
tons, and recycling capacity of only 94,000 tons. If it were
assumed that recycling capacity was exclusively dedicated to Li-ion
batteries, that would only cover 19% of annual production volume.
By 2024 the gap between recycling capacity and battery production
is expected to widen with only 9% of 3,000,000 tons being covered
by recycling capacity according to Propulsion Quebec.
The transition toward a circular economy requires "green"
battery technologies, however, true sustainability can only be
achieved with an efficient way to capture valuable materials in
spent batteries and diverting them from landfills. Lithium-ion
battery recycling typically begins with separation of the outer
casing from the cells. The cathode and anode in the cell are
together used to create a powder referred to as "black mass." The
resulting blend contains valuable minerals like lithium, cobalt,
nickel, manganese, and graphite.
Canada Silver Cobalt will use a purely hydrometallurgical
approach by employing Re-2Ox for selective leaching to
enhance process recovery of metals. Recycling plants that use
hydrometallurgy exclusively are rare and only one is known to exist
in Europe; Canada Silver Cobalt
will be the first in North America
to use this method.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works released the first-ever resource in
the Gowganda Camp and greater Cobalt Camp in May 2020. A
total of 7.56 million ounces of silver in Inferred
resources comprising very high-grade silver (8,582 grams per
tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material
from two sections (1A and 1B) of the
Robinson Zone beginning at a vertical depth of approximately 400
meters were identified. The discovery remains open in all
directions (1A and 1B are
approximately 800 meters east of the Capitol Mine workings)
(mineral resources that are not mineral reserves do not have
demonstrated economic viability) (refer to Canada Silver Cobalt
Works Press Release May 28,
2020. Report reference: Rachidi, M. 2020, NI 43-101
Technical Report Mineral Resource Estimate for Castle East,
Robinson Zone, Ontario,
Canada, with an effective date of May 28, 2020 and a signature date of July 13, 2020.
Canada Silver Cobalt's flagship Castle Mine and 78 sq. km Castle
Property features strong exploration upside for silver, cobalt,
nickel, gold, and copper in the prolific past-producing
Gowganda high-grade Silver
District of Northern Ontario. With
underground access at Castle, a pilot plant to produce cobalt-rich
gravity concentrates on site, a processing facility (TTL
Laboratories) in the town of Cobalt, and a proprietary
hydrometallurgical process known as Re-2Ox for the creation
of technical grade cobalt sulphate as well as
nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt is
strategically positioned to become a Canadian leader in the
silver-cobalt space.
"Frank J. Basa"
Frank J. Basa, P. Eng.
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore, involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.
SOURCE Canada Silver Cobalt Works Inc.