Canada Silver Cobalt Works Inc. (TSX-V:CCW) has announced a continued expansion at Castle East in Ontario with strong intercepts of high-grade silver and cobalt from the 61 Zone.
The Coquitlam, British Columbia-based company’s Castle property is located near the town of Gowganda, 80 kilometers (km) west-northwest of Temiskaming Shores, Ontario, Canada. The property is 15 km east of Aris Gold Corp's Juby Gold deposit, 30 km due south of Alamos Gold's Young-Davidson mine, and in the vicinity of Kirkland Lake Gold's Macassa complex, and new gold discoveries in the Timmins West area.
The company highlighted that 61 Zone grades include 2,571.53 grams per tonne (g/t) silver over 0.50 meteres (m), and 1.12% cobalt over 0.51m in hole CS-21-77W1, as well as 1,951.82 g/t silver over 0.55m, and 0.76% cobalt over 0.46m in hole CS-21-77.
READ: Canada Silver Cobalt Works raises around C$3.42M after closing previously announced flow-through placing
Both intercepts provide an up-dip extension to the 61-vein structure with CS-21-77W1 providing 22m of up-dip extension from discovery hole CS-21-61 that graded 30,416.91 g/t over 0.42m.
In a statement, Matt Halliday, who is the president and chief operating officer at Canada Silver Cobalt said: "Our team is extremely encouraged with these results. These intercepts are incredible, and we are continuing to expand on all our major mineralized zones.”
“We can't wait to deliver more news on Big Silver, the 17m zone and Zone 50 as we are getting results in and compiled. We are excited about the major upcoming resource update which will include several of the new high-grade silver veins discovered over the course of the drill program since the last resource estimate was published in May 2020."
The firm said ongoing drilling in the Castle East area is geared toward expanding the existing resource panels outlined in the company's maiden Resource Estimate reported on May 28, 2020. It was the first-ever report on the Greater Cobalt Camp and identified zones 1A and 1B of the Robinson Zone with an average silver grade of 8,582 g/t (250 ounces per ton) in a combined 27,400-tonnes of material for a total of 7.56 million Inferred ounces of silver using a cut-off grade of 258 g/t silver equivalent (AgEq).
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive