Canadian company Silver Cobalt Works has secured funding from the Ontario Junior Exploration Program (OJEP) for the Sangster and St. Denis Lithogeochemical Exploration Projects. The funding will enable the company to advance its exploration initiatives.
Silver Cobalt Works is focused on exploring and developing silver-cobalt projects in Ontario, Canada. The company has two primary advanced projects, the Sterrett Shell and the English River.
The Sangster project is located in Alan Lake, Ontario, Canada, which is approximately 60 km northwest of the Sterrett Shell Property. The St. Denis project is located in Lantern Township, Ontario, Canada, about 10 km southwest of the English River Property.
The OJEP funding will support a two-phase exploration program at both project sites. The first phase will consist of traditional geochemical sampling and an airborne magnetic survey, and the second phase will include a ground electrical geophysics survey to refine geology and models.
Silver Cobalt Works CEO, Carl G. Schulze, said, “We are pleased to be granted funding for both the Sangster and St. Denis projects, as this investment allows us to build a robust exploration strategy for these key drill targets.”
He added, “The success of our exploration efforts and the expedited assessment of our geochemical data will provide valuable insight into the development of our property interests.”
The Sangster and St. Denis Lithogeochemical Exploration Projects are expected to be completed by the end of 2021. The results of the exploration will be used to inform Silver Cobalt Works’ future plans.
The OJEP is a collaborative partnership between the Ontario government and the Prospector’s and Developers Association of Canada (PDAC). It helps junior exploration companies advance their initiatives and create jobs in the mineral exploration sector. The program provides $20 million in funding annually for mineral exploration projects in Ontario.