Canada Silver drills 0.5m of 2,571g/t Ag at Castle East
2022-01-10 07:39 ET – News Release
Mr. Frank Basa reports
CANADA SILVER COBALT REPORTS HIGH-GRADE SILVER AND COBALT INTERSECTIONS AT CASTLE EAST WITH UP TO 2,571.53 G/T SILVER
Canada Silver Cobalt Works Inc. has continued expansion at Castle East with strong intercepts from the 61 zone.
- 61 Zone grades include 2,571.53 g/t silver over 0.50m, 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. 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 (See press release August 9, 2021).
Matt Halliday, President and Chief Operating Officer, commented: « 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. »
Hole ID Zone From (m)To (m)Length (m)Ag (g/tonne)AuEq (g/tonne)Co (%)
CS-21-61W161 Zone470.35 471.000.65 807.48 10.26 <0.01
CS-21-77 61 Zone471.96 472.420.46 685.48 8.71 0.76
CS-21-77 61 Zone493.16 493.710.55 1951.82 24.81 0.10
CS-21-77W161 Zone452.35 453.000.65 823.78 10.47 <0.01
CS-21-77W161 Zone453.00 453.500.50 2571.53 32.69 0.01
CS-21-77W161 Zone453.50 454.150.65 733.41 9.32 <0.01
CS-21-77W161 Zone486.00 486.510.51 681.57 8.66 1.12
Gold equivalent (AuEq) is based on USD $23.19 oz/ton Ag and USD $1,824.28 oz/ton Au calculated Jan. 5, 2022.
Ongoing drilling in the Castle East area is geared toward expanding the existing resource panels outlined in the Company’s maiden Resource Estimate reported in a news release May 28, 2020. The resource estimate was the first ever in 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 oz/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 AgEq (mineral resources that are not mineral reserves do not have demonstrated economic viability). Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada , with an effective date of May 28, 2020 and a signature date of July 13, 2020.
The Castle Property is located near the town of Gowganda and is 80 km west-northwest of Temiskaming Shores, Ontario, Canada. It is also 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.
The technical information in this news release was prepared under the supervision of Mr. Matthew Halliday, P.Geo., (PGO), President, COO and VP Exploration of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. This discovery has the highest silver resource grade in the world, with recent drill intercepts of up to 89,853 grams/tonne silver (2,621 oz/ton Ag). A drill program is underway to expand the size of the deposit with an update to the resource estimate scheduled for Q1 2022.