Canada Silver Cobalt Works Inc. (TSX-V:CCW) has announced additional assay results from its 60,000-metre (m) drill program at Castle East completed earlier this year, including intercepts up to 4,710.00 grams per tonne (g/t) silver over 0.53m and 3,020.00 g/t silver over 0.67m.
“These drill results at Castle East are, once again, excellent news. Previous releases announced increased continuity on the Big Silver, 61, and 50 Zones,” Canada Silver president and COO Matthew Halliday said in a statement.
“These two hits once again add more critical information and further expand our deposit at Castle East to the south and also closer to surface,” he added.
READ: Canada Silver Cobalt Works inks LOI to acquire greenfield lithium property in northern Ontario
Hole CS-21-84, targeting the area between the Big Silver and Robinson Zones, intercepted 3,020 g/t silver over 0.67m at 501.37m.
Hole CS-21-115, targeting a 3D-modelled alteration zone as well as following up the visible gold discovered in hole CS-20-31, intercepted 4,710 g/t silver over 0.53m, the closest vein to surface that the company has drilled on the property to date.
Canada Silver said the intercept suggests there may be an association with gold and silver in the Archean lithologies outside of the Nipissing Diabase intrusion.
“The relationship between the gold and silver at these shallow depths requires further investigation since it is unclear whether this is the same system or if it is occurring as sequential pulses of mineralized fluid,” it added.
Canada Silver recently discovered a major high-grade silver vein system at Castle East located 1.5 kilometres from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario.
The company has completed a 60,000m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.
Contact the author at jon.hopkins@proactiveinvestors.com