Canada Silver drills 74 g/t AuEq over 0.5m of at Castle East, Ontario

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Canada Silver Cobalt Works Inc. [CCW-TSXV; CCWOF-OTC; 4T9B-FSE] continues to expand its silver deposit at Castle East, near Gowganda, northeastern Ontario, with high-grade silver and cobalt intercepts from the Big Silver zone. The drill results will be included in the planned resource update expected by the end of Q1 2022.

Drilling Highlights include the Big Silver intercept grading 6,188.43 g/t silver and 0.35% cobalt over 0.50 metres in hole CS-21-47 located 16 metres downdip from Big Silver’s discovery hole CS-20-39 that graded 89,853.00 g/t silver.

A second Big Silver intercept grading 2,509.41 g/t silver and 0.10% cobalt over 0.50 metres in hole CS-21-73, that is located an additional 20 metres downdip from the intercept in CS-21-47 noted above.

Matt Halliday, President and Chief Operating Officer, commented: “Big Silver is living up to its name with the latest intercept of 6,188 g/t silver which has a AuEq (gold equivalent) of 74.67 g/t. We are especially encouraged by the 36 metres of total downdip extension; this type of continued expansion will be very important for our next resource update. In addition, we can’t wait to explore these structures further from underground after a ramp is constructed.”

The upcoming resource update will include Big Silver and several other high-grade veins intersected at the Castle East deposit during the 53,000 metres of drilling conducted since the last resource estimate was published in May 2020.

The company is also well-advanced in the process of obtaining permits for a ramp down to the high-grade deposit in order to conduct underground exploration to further expand the deposit and also to access high-grade bulk samples that it can process into silver dore bars at its TTL bulk processing facility in nearby Cobalt, Ontario. Discussions with the provincial government are underway, and baseline environmental studies are expected to be completed by mid-year with the permit application filed soon after.

Ongoing drilling in the Castle East area is geared toward expanding the existing resource panels outlined in a maiden Resource Estimate reported May 28, 2020. Zones 1A and 1B of the Robinson Zone averaged 8,582 g/t silver (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’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 100%-owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates on site, a bulk 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 formulations).


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