Canada Silver Cobalt Works Inc has reported that it hit high-grade cobalt and silver assays at the Castle East property in Ontario.
The junior resource company is in the midst of a 60,000-metre drill program at the project, having completed 42,000 metres so far.
The newly-released intercepts included 0.76 metres at 0.62% cobalt and 36,374 grams per ton (g/t) silver, including 0.3 metres at 1.56% cobalt and 89,853 g/t silver, which was drilled at the Big Silver Zone.
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Other intercepts from the same zone included 0.41 metres at 0.92% cobalt and 51,612 g/t silver and 1.3 metres at 0.72% cobalt and 19,308 g/t silver, which included 0.42 metres at 2.22% cobalt and 53,739 g/t silver.
To date, the company has drilled seven new high-grade silver vein systems including Big Silver, which contains even higher-grade material than that seen in the project’s May 2020 resource estimate.
“With the recent drilling, we have been seeing spectacular silver hits, notably as much as 89,853 g/t silver (almost 9% silver). However, this drill program has been very fruitful on the cobalt side as well,” Canada Silver Cobalt Works COO Matt Halliday said in a statement.
“The cobalt grades we have been getting with Big Silver are even higher than our first resource released in May 2020. We believe that cobalt will remain a critical mineral in the future because of its role in creating high-range EV batteries, and we are in the process of ramping up our activities to capitalize on cobalt and our proprietary Re-2Ox extraction process in the coming years,” he added.
Canada Silver is planning to incorporate the recent drill results into a future updated NI 43-101 resource estimate for the project, anticipated during 1Q 2022.
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