Canada Silver Cobalt Works Inc (TSX-V:CCW, OTCQB:CCWOF) (CCW) announced that it has made “significant discoveries” through its surface exploration efforts in the Miller Lake area at the Castle Mine property in Ontario, with multiple samples greater than one gram per tonne (g/t) gold and ranging up to 3.2 g/t gold.
The precious metal and battery metals properties developer said through prospecting, stripping and new geophysics, CCW is finding additional targets for unlocking mineralization in addition to the known silver and cobalt at the former high-grade Castle Silver Mine.
“We now want to see what we can find in channel samples so we can model some widths and we are excited to see the outcrop mapping to incorporate into our geological database at Castle,” Canada Silver Cobalt Works president Matthew Halliday said in a statement.
CCW noted that the discovery of gold at the surface at the past-producing high-grade silver-cobalt Castle Mine is in addition to previously reported results of gold sampling and drill intercepts at the property as well as the discovery of new major silver-cobalt vein structures and the publication of a resource estimate.
The company added that the next step in the exploration process involves channel sampling, which is scheduled to take place during the week of July 23, with the additional data collection expected to provide a more comprehensive understanding of the mineralization potential in the area.
As well, about 80 meters east of the current location, prospecting efforts revealed similar but less extensive pyrite mineralization and alteration, with the gold zone's potential appearing to be open in all directions, presenting the possibility of future drill targets, CCW stated.
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.
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