Canada Silver Cobalt drills 3,680 g/t silver over 1.01 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, northeastern Ontario, completed earlier this year, including intercepts up to 3,680 g/t silver over 1.01 metres and 1.34% cobalt over 0.47 metres.

Details of the drill core assays, which were received recently after delays in core logging and at the assay lab, included drill hole CS-21-78 that returned 0.86 metres of 0.25 g/t gold, 11.50 g/t silver and 0.44% cobalt; 0.71 metres of 0.26 g/t gold, 26.10 g/t silver and 0.39% cobalt; 0.95 metres of 0.04 g/t gold, 15.90 g/t silver and 0.43% cobalt; 0.47 metres of 0.03 g/t gold, 1,080 g/t silver and 1.34% cobalt; as well as 1.01 metres of <0.01 g/t gold, 3,680 g/t silver and <0.01% cobalt.

“These drill results at Castle East are excellent. A previous release announced increased continuity on the Big Silver and 61 Zones. The results released today further confirm continuity on the 61 Zone but also expand the 50 West Zone and provide a much shallower intercept above known mineralization. These shallow hits in CS-21-78 also confirm that there are minor amounts of gold mineralization in these silver-cobalt systems,” said Matthew Halliday, P.Geo., President and COO.

Hole CS-21-78 was drilled targeting the 50 West Zone. The high-grade silver and cobalt assays from 489.42 metres to 490.85 metres in hole CS-21-78 are located approximately 15 metres away from the intercept in hole CS-21-50 which was 2,208 g/t silver over 0.45 metres. The intercepts from 279.20 to 280.77 metres are located approximately 190 metres above the intercept (closer to surface) in hole CS-21-50. They are primarily cobalt-rich but have minor amounts of gold mineralization as shown in the assay results.

Hole CS-21-81 was planned as another follow up hole to the high-grade intercepts in the 61 Zone, and the intercept is located 45 metres away from the high-grade intercept in hole CS-21-61 of 30,416 g/t silver over 0.42 metres.

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 Northeast 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 NI 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 silver 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 km 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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