Canada Silver Cobalt Works Inc (TSX-V:CCW, OTCQB:CCWOF) has reported promising assay results from its prospecting program at the Miller Lake area of its Castle Mine property in Ontario, including a grab sample collected at the surface which assayed at 6.07 grams per ton (g/t) gold.
Several additional samples returned gold grades ranging between 0.10 to 0.28 g/t gold, the company reported.
Canada Silver Cobalt noted the results as “significant and surprising” as previous gold found at the property was mainly in drill intercepts well below the surface.
“Silver and cobalt veins were typically found at the surface at Castle and elsewhere in the broader Cobalt Camp but it has been rare to find gold at the surface and with such a high grade, but it makes sense with the geological context of the Archean basement here in the Abitibi," Matthew Halliday, Canada Silver Cobalt’s chief operating officer said.
"We regard this surface sample of high-grade gold as a breakthrough in our efforts aimed at unlocking the full mineralization potential at Castle, and it provides compelling support for the extension of the stripping operations we are planning just to the north of it.”
The company’s prospecting efforts are ongoing and the company believes that, in addition to its recently initiated M-PASS survey of the property, this will continue to reveal substantial gold and silver mineralization prospects.
“With the resumption of our stripping program, we are eager to expand our operations to this newfound location,” Halliday added in a statement.
“Furthermore, the implementation of the M-PASS survey reinforces our commitment to leveraging advanced technologies to drive our exploration success."
Canada Silver Cobalt recently discovered a major high-grade silver vein system at Castle East located 1.5 kilometres 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 underway.
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