Canada Silver Cobalt Works Inc (TSX-V:CCW, OTCQB:CCWOF) said it has received new permits to allow follow-up drilling and outcrop stripping on the shallow gold and silver mineralization at its Castle East property.
The company said the permits allow for further exploration at Castle East, to explore and identify any surface expressions of both the shallow silver and gold mineralization. The two primary, near-surface intercepts that will be followed up on are 4,710 grams per ton (g/t) silver over 0.53 metres (m) from 64.99m to 65.52m in hole CS-22-115, and 24.95 g/t gold over 0.3m from 49.7m to 50m in hole CS-20-31, it added.
READ: Canada Silver Cobalt discovers significant gold mineralization at Castle East and Castle Underground mine
“We are excited the explore these near-surface intercepts, we think they will be a very important factor in the long-term development at Castle East,” Canada Silver Cobalt president and chief operating officer Matthew Halliday said in a statement. “The shallow structures are much closer to the conceptual portal, which could have larger implications for future bulk sampling compared to the much deeper Big Silver and Robinson Zone veins.”
The company said it aims to ascertain any relationship between the near-surface gold and silver mineralization, as well as learn valuable information about the Archean lithologies in the southern part of the property.
The technical team will plan the exploratory stripping based on projected 3D models of the veins created from the company’s 2020-2022 drill program. Stripping is planned to determine whether the veins continue to surface. If so, it said it will complete channel sampling across the structures to identify the quantity of mineralization. In addition, any further drilling will explore the structures along strike to determine their continuity.
Depending on the success of the short program, infill drilling between known structures to the north (Robinson Vein and Big Silver) and these shallow intercepts will be considered, the company said.
It aims to complete the field component mid to late summer 2023.
Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. Its flagship Castle Mine and Castle property near Gowganda in northern Ontario features strong exploration upside for silver, cobalt, nickel, gold, and copper.
Contact the author at stephen.gunnion@proactiveinvestors.com