Canada Silver Cobalt Works Inc. [CCW-TSXV; CCWOF-OTCQB; 4T9B-FSE] reported new assay results from its 60,000-metre drill program at Castle East, northeastern Ontario, including intercepts up to 2,900 g/t silver and 1.05% cobalt over 0.5 metres.
Details of the drill core assays, which were received recently after long delays in core logging and at the assay lab, are shown below.
Hole CS-21-73 returned 0.50 metres of 2,900 g/t silver , 0.01 g.t gold and 0.09% cobalt. CS-21-77W1 returned 0.50 metres of 2,760.00 g/t silver, 0.01 g/t gold and 0.02% cobalt. CS-21-77W1 returned 0.51 metres of 67.20 g/t silver, 0.02 g/t gold and 1.05% cobalt.
“We are pleased with these drill results, since they confirm vein continuity in the Big Silver zone and the 61 zone and support our view that the Castle East deposit has the potential to be expanded beyond what has been indicated so far,” said Matthew Halliday, PGeo, president and CFP.
Hole CS-21-73 was drilled approximately 40 metres away from the high-grade intercept of 89,853 g/t silver over 0.3 metres in Big Silver hole CS-20-39. Hole CS-21-77W1 was a follow-up to the high-grade intercepts in the 61 zone and intercepted two veins spaced apart: the silver-rich vein at 453 metres is 24 metres away from the high-grade intercept of 30,416 g/t silver over 0.42 metres in CS-21-61, and the cobalt-rich intercept at 486 metres is 13 metres from the CS-21-61 intercept.
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 under way.
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 uncut 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.