Canada Silver Cobalt Works Inc. (TSX-V:CCW) said it has expanded its silver deposit at the Castle East project with “excellent intercepts” from the aptly-named Big Silver zone.
Intercepts from Big Silver included 6,188 grams per ton (g/t) silver and 0.35% cobalt over 0.50m in hole CS-21-47, and 2,509.41 g/t silver and 0.10% cobalt over 0.50m in hole CS-21-73.
The results will be included in an upcoming resource update planned for the end of 1Q 2022.
READ: Canada Silver Cobalt Works poised to test stamp mill tailings from Beaver and Castle mines at pilot plant
Vancouver-based Canada Silver Cobalt Works told investors that the update will incorporate the 53,000 meters of drilling at Big Silver and several other high-grade veins since the last resource estimate was published in May 2020.
“Big Silver is living up to its name with the latest intercept of 6,188 g/t silver which has a gold equivalent of 74.67 g/t,” COO Matt Halliday said in a statement.
“We are especially encouraged by the 36 meters of total downdip extension; this type of continued expansion will be very important for our next resource update. In addition, we can’t wait to explore these structures further from underground after a ramp is constructed.”
CSCW also said that it is “well-advanced” in the permitting process for a ramp down to the high-grade deposit, where it hopes to do underground exploration to expand the deposit and access high-grade bulk samples to process into silver dore bars at its TTL bulk processing facility.
Discussions with the provincial government are underway, and baseline environmental studies are expected to be completed by mid-year with the permit application filed soon after, it added.
Castle East is located 1.5 kilometers from CSCW’s 100%-owned, past-producing Castle Mine near Gowganda in the prolific silver-cobalt mining district of northern Ontario.
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