The Castle property is located near the town of Gowganda and is 80 km west-northwest of Temiskaming Shores, northeast Ontario. It is also 15 km east of the Aris Gold Corp. [ Juby gold deposit, 30 km due south of Alamos Gold’s Young-Davidson mine, 75 km southwest of Kirkland Lake Gold’s Macassa complex and 100 km southeast of new gold discoveries in the Timmins West area.
Drilling highlights for the 61 zone include 2,571.53 g/t silver over 0.50 metres and 1.12% cobalt over 0.51 metres in hole CS-21-77W1, as well as 1,951.82 g/t silver over 0.55 metres, and 0.76% cobalt over 0.46 metres in hole CS-21-77. Both intercepts provide an updip extension to the 61-vein structure with CS-21-77W1 providing 22 metres of updip extension from discovery hole CS-21-61 that graded 30,416.91 g/t over 0.42 metres. Refer to company press release for complete drill results.
Matt Halliday, president and CEO, commented: â€œOur team is extremely encouraged with these results. These intercepts are incredible, and we are continuing to expand on all our major mineralized zones. We can’t wait to deliver more news on Big Silver, the 17 m zone and zone 50 as we are getting results in and compiled. We are excited about the major upcoming resource update, which will include several of the new high-grade silver veins discovered over the course of the drill program since the last resource estimate was published in May, 2020.â€
Continuing drilling in the Castle East area is geared toward expanding the existing resource panels outlined in the companyâ€™s maiden resource estimate reported May 28, 2020. The resource estimate was the first ever in the Greater Cobalt camp, and identified zones 1A and 1B of the Robinson zone with an average silver grade of 8,582 g/t (250 oz/ton) in a combined 27,400 tonnes of material for a total of 7.56 million inferred ounces of silver using a cut-off grade of 258 g/t AgEq.
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. This discovery has the highest silver resource grade in the world, with recent drill intercepts of up to 89,853 g/t silver (2,621 oz/ton). A drill program is under way to expand the size of the deposit, with an update to the resource estimate scheduled for the first quarter of 2022.