Canada Silver Cobalt Works Inc has announced additional intersections of high-grade silver, including 7,981 grams per tonne (g/t) over 0.30 metres (m) at a downhole depth of 484.9 to 485.2m, belonging to the Big Silver vein at the company’s Castle East project in northern Ontario.
Canada Silver Cobalt Works said the drill results further define and expand the high-grade silver zone initially discovered with hole CS-20-39, which had earlier recorded intercepts of up to 89,853 g/t silver over 0.30 meters.
“The latest drill results bring us closer to a significant expansion of silver resources in the next resource update which we have scheduled for Q1 2022 and which supports our view that Castle East could progress into being a full-fledged mine, producing silver and other metal byproducts such as cobalt and nickel,” Canada Silver Cobalt Works President Matt Halliday said in a statement.
READ: Canada Silver Cobalt Works hits bonanza grade silver in Vein 2 at Castle property
“The Castle East grades are truly exceptional – among the highest silver grades in the world – and are comparable to the high silver grades (and vein widths) that were very profitably mined during the silver mining boom in the early 1900s in the Greater Silver-Cobalt Camp, which included the past-producing Castle, Capitol, and O’Brien high-grade underground silver mines (with cobalt byproduct) all within two kilometres of our Castle East discovery near Gowganda, Ontario,” Halliday added.
The company noted that since its initial resource estimate published in May 2020, it has drilled 39,000m, intersecting an additional seven mineralized veins including Big Silver, which is expected to contribute to a major increase in its upcoming resource estimate.
Canada Silver Cobalt Works is strategically positioned in Canada's heartland and is aiming to become a leader in the silver-cobalt space but is also pivoting to focus on other critical energy metals used for electric vehicles (EV).
The company’s flagship asset is the Castle mine - the only permitted underground asset in the Ontario camp - which still has all three existing shafts, and the 78 square kilometres Castle property where only silver in a small area was targeted.
Contact Sean at sean@proactiveinvestors.com