Canada Silver Cobalt Works Inc. (TSX-V:CCW) has unveiled more encouraging drill results from its past-producing Castle mine project in the prolific Gowganda silver district in Ontario, which show the potential to expand mineralization.
The new assays come from a 60,000 metre (m) drill program at the Castle East high-grade vein system, which was discovered in 2021, and which sits 1.5 kilometres (km) from the Castle mine.
Notable results reported were those over 1,000 grams per ton (g/t) silver and more than 0.10% cobalt, and over 1 g/t gold, and one hole hit a length of 0.5m at 2,900 g/t silver from 512.5m depth. Another hit 0.51m from 586m depth at 1.05% cobalt.
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The first hole above was sunk around 40m away from a high-grade intercept of 89,853 g/t silver over 0.3m in the so-called Big Silver Hole reported in January 2021.
The second hole above was following up on high-grade intercepts in the 61 Zone and hit two veins spaced apart, said the company.
"We are pleased with these drill results, since they confirm vein continuity in the Big Silver Zone and the 61 Zone and support our view that the Castle East deposit has the potential to be expanded beyond what has been indicated so far," said Matthew Halliday, the president and chief operating officer (COO) in a statement.
Canada Silver Cobalt's flagship Castle mine and 78-square-kilometre Castle Property feature strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past-producing Gowganda high-grade Silver District of Northern Ontario.
The Castle property lies 15 km east of Aris Gold Corp’s Juby gold deposit, 30 km due south of Alamos Gold’s Young-Davidson mine, 75 km southwest of Kirkland Lake Gold’s Macassa Complex, and 100 km southeast of new gold discoveries in the Timmins West area.
With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt says it is "strategically positioned" to become a Canadian leader in the silver-cobalt space.
Contact the author at giles@proactiveinvestors.com