Source: Canada Silver Cobalt
  • Canada Silver Cobalt (CCW) discovers significant gold mineralization at both Castle East and Castle Mine
  • Programs that are under review are its gold data from the 2011 to 2019 surface drill and 2014 channel sample programs at Castle East and its Castle mine from 2019
  • In Gowganda, around 95 per cent of the mined silver came from the Nipissing Diabase
  • If something closer to the surface is discovered and delineated, it could offset the capital cost of infrastructure required to access the existing silver resource
  • Canada Silver Cobalt Works (CCW) is trading at C$0.09 at 1:08 pm EST

Canada Silver Cobalt Works (CCW) released gold assay results from its 60,000 metres 2020 to 2022 drill program and reviewed drill programs.

Programs that are under review are its gold data from the 2011 to 2019 surface drill and 2014 channel sample programs at Castle East, as well as the underground drill program at its Castle Mine from 2019.

Frank J. Basa, B.Eng., P.Eng., CEO, commented, “Historically, gold has been directly associated with silver in the Cobalt Camp. The gold values in the silver dore bar produced when the historic mines were in production accounted for 3 to 5 percent of the total 1,000 ounces by weight.”

In addition, Canada silver Cobalt Works has not only discovered gold mineralization in the Nipissing Diabase, where most of the silver-cobalt veins occur but also in the Archean Lithologies above the diabase sill.

In Gowganda, around 95 per cent of the mined silver came from the Nipissing Diabase, due largely to visual mining methods and finding veins near the surface at the edge of the Miller Lake Basin.

Shallow Archean-hosted near-surface intercepts such as the 24.95 g/t Au over 0.30 m in CS-20-31 from 49.70 to 50.00 m and 4710 g/t Ag over 0.53 m in CS-22-115 from 64.99 to 65.52 m show how there may be potential for the Miller Lake Basin to contain further shallow silver and gold mineralization.

The significance of these intercepts is that Castle East is no longer simply a silver-cobalt type deposit, but it adds a third, very critical element – gold.

If something closer to the surface is discovered and delineated, it could offset the capital cost of infrastructure required to access the existing silver resource.

A finding like this could positively affect the deposit’s economics if such a relationship can be defined.

Canada Silver Cobalt Works recently discovered a central high-grade silver vein system at Castle East, located 1.5 km from its wholly owned past-producing Castle Mine near Gowganda.

Canada Silver Cobalt Works (CCW) is trading at C$0.09 at 1:08 pm EST.


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