Canada Ag drills 4,710 g/t silver over 0.53 metres at Castle East, Ontario

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Canada Silver Cobalt Works Inc. [CCW-TSXV; CCWOF-OTCQB; 4T9B-FSE] reported additional assay results from its 60,000-metre drill program at Castle East in northeastern Ontario completed earlier this year, including intercepts of 4,710 g/t silver over 0.53 metres and 3,020 g/t silver over 0.67 metres.

Hole CS-21-84 returned 0.67 metres of 3,020 g/t silver and0/01% cobalt. Hole CS-21-115 returned 0.53 metres of 4.710.00 g/t silver and 0.03% cobalt.

“These drill results at Castle East are, once again, excellent news. Previous releases announced increased continuity on the Big Silver, 61, and 50 Zones. These two hits once again add more critical information and further expand our deposit at Castle East to the south and also closer to surface,” said Matthew Halliday, P.Geo., President and COO.

Hole CS-21-84 was targeting the area between the Big Silver and Robinson Zones. The high-grade silver vein was intercepted at 501.37 metres, and is located approximately 50 metres north-west and 30 metres above (in elevation) from the intercept in hole CS-20-39 which had 89,853.00 g/t silver over 0.30 metres. It is also located approximately 60 metres above the intercept in the discovery hole CA-11-08 which had 40,944 g/t silver over 0.45 metres.

The hole CS-21-115 was targeting a 3D-modelled alteration zone as well as following up the visible gold discovered in hole CS-20-31 that had 24.95 g/t gold over 0.30 metres. The hole intercepted a vein at 65.23 metres and is located approximately 280m south of the discovery hole CA-11-08.

The high-grade silver vein is approximately 50 metres below the surface and is therefore the closest vein to surface the company has drilled on the property to date. The relationship between the gold and silver at these shallow depths requires further investigation since it is unclear whether this is the same system or if it is occurring as sequential pulses of mineralized fluid.

Canada Silver Cobalt Works recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The company has completed a 60,000-metre drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.

In May 2020, based on a small initial drill program, the Company published the region’s first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 g/t un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 metres.

The company also has 14 battery metals properties in Northern Quebec where it has recently completed a nearly 15,000-metre drill program on the Graal property; and the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle’s high-grade Macassa Mine near Kirkland Lake, Ontario where it is exploring.

Canada Silver Cobalt’s flagship silver-cobalt Castle mine and 78 km2 Castle property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, 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.


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