Canada Silver Cobalt Works Launches Re-2Ox Website Focused on Battery Recycling
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce a new website for the battery recycling initiative utilizing the proprietary, environmentally friendly hydrometallurgical process. The Re-2Ox process has already been successfully used in the development of a cobalt sulphate compound for end use in lithium-ion batteries. Now, the Company is seeking to use this process in the recycling of spent lithium-ion batteries and other recyclables that contain metals of value.
Re-2Ox website is now on-line http://www.re-2ox.com/
Potentially 90 percent of recyclable battery material will be available for processing with no known global recycling capacity availability
Re-2Ox process is amenable to feedstock of used battery material which is now widely available
CEO Frank J. Basa, P.Eng., commented that “We strongly considered this initiative a few years ago but initial research turned up a lack of feedstock at that time, but this has now changed. With feedstock currently available and coupled with the Re-2Ox process, the path is clear for the Company to develop what can be a robust and ever-increasing potential income stream by providing future tolling services for the treatment of used batteries.”
The percentage of a Li-ion battery’s weight that comes from valuable cathode material is 30-40% with the value of the lithium-ion battery market projected to be upwards of $70 billion next year according to the International Energy Agency, US Department of Energy.
If current trends for handling these spent batteries do not change, the majority will end up in landfills despite the fact that Li-ion batteries can be recycled. These batteries contain valuable metals and other materials that can be recovered, processed, and re-used; however, little recycling goes on today. The opportunity is right in front of us as the world stands at the inception of a mega-trend or global shift away from carbon-producing transport to electrified transport. To date, the media focus has been on the front-end savings without addressing the back end which has to be recognized if green goals are to be fully realized. The Company sees this as a major opportunity that will grow for decades as these now-established mega-trends continue to accelerate, not just in North America but around the world.
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, was identified. The discovery remains open in all directions (1A and 1B are approximately 800 meters from 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 feature 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.
For further information: Frank J. Basa, P.Eng., Chief Executive Officer, 416-625-2342