Canada Silver Cobalt Hits New High-Grade Silver Vein – Fifth New High-Grade Intersection at Robinson Zone
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce the intersection of a new, additional, high-grade silver vein within 60 metres of the Robinson Zone Discovery hole CA-1108. The Robinson Zone Project is 100-percent owned by the Company, in the 78-square-kilometre Castle Silver Mine property, in Gowganda, Ontario, Canada.
Highlights and updates:
- Visually, mineralization in the new vein rivals the discovery intersection of hole CA-11-08 (40,944 g/t silver (1,194 oz/ton) over a core length of 0.45 meters (refer to Gold Bullion Development news release August 25, 2011), and to additional intervals in hole CS-20-08W1 and CS-20-08W2 of 50,583.29 g/t ( 1,476 oz/ton) silver over 0.60 meters within 1.5 meters of 20,741 g/t (605 oz/ton) silver and 70,380 g/t (2,053 oz/ton) silver over 0.30 meters within a broader zone of 1.4 meters grading 20,136 g/t (587 oz/ton) silver respectively (Canada Silver Cobalt press releases Dec 23, 2019 and Jan 10, 2020).
- The 18,000 metres drilled in the current 50,000-metre program, represents only 36 percent of this phase of drilling. A total of 28 holes are completed, including 8 wedge holes.
- This new intersection is 53 metres laterally east-southeast and 25 metres vertically above the original discovery hole (CA-11-08) and further expands the potential high-grade mineralization target area. This new, high-grade mineralized intercept is approximately 80 metres below the upper contact of the diabase sill which, in the Gowganda Camp, typically hosts the majority of the silver mined historically.
With 4 strongly mineralized veins identified and this additional new, high-grade vein, the potential of the Robinson Zone has significantly increased. Follow-up drilling is planned to expand the existing resource panels reported in a Press Release May 28, 2020. In that release, a maiden resource estimate identified zones 1A and 1B of the Robinson Zone to have 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).
The new high-grade intersection is an entirely new vein. The intersection is located a mere 60 metres from the discovery intersection of hole CA-11-08 and is located approximately 2 km southeast of the Castle No. 3 mine, and within 2 km of two other past producers.
Notably, Hole CS-20-39 also intersected a 17-metre zone (downhole, from 502 to 519 m) with several narrow veins mineralized with both silver and cobalt-arsenides. Assays are pending for hole CS-20-39.
This new vein and the design of the current drill program offers an excellent opportunity to conduct valuable downhole geophysics and based on the results of a pilot program, we will have a roadmap to focus more effectively on some of the targets we have identified at the Robinson zone.
Matt Halliday, P.Geo., President, commented: “We are very pleased to be disclosing this new vein discovery. This is the type of stellar mineralization we are looking for and to find it so close to the original Robinson vein is very encouraging. We continue to record sound geological information with the aim of strengthening our model and finding more mineralization like this on the existing structures and to search out new ones”.
Location
The Castle Property is 15 km east of Pan American Silver’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.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Matthew Halliday, P.Geo., (APGO), President of Canada Silver Cobalt Works Inc., and a qualified person in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp in May 2020. A total of 7.56 million ounces of silver in Inferred resources comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the east-trending Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020).
Canada Silver Cobalt’s flagship Castle mine and 78 sq. km 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. 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 is strategically positioned to become a Canadian leader in the silver-cobalt space.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Silver Cobalt Works Inc.
For further information: Frank J. Basa, P.Eng., Chief Executive Officer, 416-625-2342
Related Links
- Published in Canada Cobalt Works, Mining, News Home
Newlox Gold Advances Second Processing Plant
Click Image To View Full Size
Figure 1. Historical Geochemistry Indicates Significant Gold Anomalies in the Boston Area
Vancouver, BC – TheNewswire – December 21, 2020 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX ) | ( Frankfurt: NGO ) | (CNSX:LUX.CN) Having completed its oversubscribed $2,779,000 financing, the Company is poised to execute its growth plans for 2021.
Newlox Gold is closing the year on a positive note with its first processing plant upgraded, operating and ramping-up throughput. At full scale, the processing plant will be capable of processing 80 tonnes per day of artisanal tailings feedstock targeting over 6,500 ounces of gold per year.
Earlier this year, Newlox Gold announced that it had secured a fully permitted location to construct and commission a second processing plant to facilitate near-term production growth. This second processing plant, the Boston Project, is located in the historic Juntas Gold Camp of Costa Rica, which has been mined continuously by local miners since the early 1900s, with over 2 million ounces of gold produced historically.
For the Boston Project, the Company is establishing a mill with a throughput of 150 tonnes per day of material grading +- 15 grams per tonne gold. Newlox will operate Boston in partnership with local mining groups. Local partners will supply freshly mined feedstock to the Newlox processing plant. Net revenues after all production costs will be split 50/50 between the miners and Newlox. The Company expects the Boston Project to significantly contribute to Newlox’s near-term growth.
The Company has access to substantial historical data on both the Boston area and the entire Juntas Gold Camp and has undertaken an ongoing comprehensive review. A geological assessment of the Juntas Gold Camp by the Newlox geology team has estimated that the Juntas-Boston area has been the source of significant historical production and holds substantial future gold and silver potential .
Click Image To View Full Size
Figure 2. Historical Exploration Results Show Regional High-Grade Gold
The Juntas Gold Camp is divided from west to east into several sub-districts, which have been subjected to varying levels of historical exploration. The most historically active sub-district, Tres Hermanos, hosts a major historical mine which is now being actively mined by the local mining partners of Newlox. Data on historical production in this area indicates the grade to have been around 16 grams per tonne gold. The gold-bearing material at Tres Hermanos is rich in silver (electrum) and is accompanied by sphalerite, galena, and stibnite. Historical production in just this sub-district is estimated to be over 2 million ounces of gold. Extensions to the known vein system hold potential both on strike and at depth.
On the western portion of the camp lies the La Luz area, where two parallel vein structures having a thickness of 1.2 to 2 meters with grades between 12.5 to 37 grams per tonne gold have been explored and exploited (OEA 1978).
The nearby Silencio Area hosts veins up to 5 meters in thickness, with historical exploration and mining records indicating grades between 7.8 and 15.6 grams per tonne gold. These veins were exploited at multiple levels and remain open for further exploitation and exploration.
Click Image To View Full Size
Figure 3. Exploration and Historical Mining at Boston Outlines High-Grade Veins
The Boston Area, where Newlox Gold is constructing its second processing plant, hosts three historical mines that exploited veins up to 5 meters thick, with historical records showing grades averaging 7.41 to 12.6 grams per tonne gold. They have been mined for the past 30 years by Newlox Gold’s local artisanal mining partners, with currently reported grades exceeding historical records.
A NI43-101 report produced in 2010 tabulated the current potential of the southwestern section of the Juntas Gold Camp at an estimated 3,500,000 tonnes containing 1,200,000 ounces of gold and the northeastern section at an estimated 1 to 10 million ounces of gold. In total, Newlox’s geology team estimates that the Las Juntas Gold Camp has the potential for between 1.2 and 10 million ounces of gold with an equivalent silver component*.
The author also noted that the overall Central Gold Belt, which contains the Juntas Gold Camp, has undergone little modern exploration and holds excellent exploration potential for large, rich gold deposits starting at the surface and extending beyond 500 meters in depth.
* The numbers stated above are conceptual in nature and historical and as such have not been determined under NI 43-101 constraints. There can be no assurance that any such resources will be discovered and if discovered there is no assurance that any such resources may be economically recoverable.
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Figure 4. Recently Collected Grab Samples from Boston Show Visible Gold
A Message from Ryan Jackson, President & CEO:
“Newlox Gold expects to have a transformational year in 2021; the Company’s first processing plant is expected to achieve full-scale production, and the Boston Project is slated to enter production early in the second quarter. Additionally, Newlox is actively evaluating projects in neighbouring jurisdictions and plans to select and announce its third project in the spring with the intention of starting construction at Project 3 in the second half of 2021.
The Company’s recently closed $2.779 million financing places Newlox on firm footing to optimize production at its first processing plant and advance its organic growth model. Newlox Gold focus on the US$27 billion artisanal gold sector over the coming years. Artisanal mining currently accounts for 20% of annual global gold production, and Newlox is looking to participate in this neglected arena while dramatically improving environmental and social standards. It all starts in 2021!”
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Forward-Looking Information
The information in this news release may include certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward- looking information. Forward-looking information includes, but is not limited to, the completion of the work programs currently underway and the results of these programs. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, achievements, or performance may vary materially from those anticipated and indicated by these forward-looking statements. The material risk factors that could cause actual results to differ include the risk that work undertaken by the Company may have unintended effects, the risk of delays in completing work, and the risk that the Company may not be able to raise sufficient funds and Force Majeure. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, it can give no assurances that the expectations of any forward-looking information will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release).
Technical Disclaimer
The Company advises it is not basing any decision to produce on a feasibility study of reserves demonstrating the economic and technical viability of the project and also advises there is increased uncertainty and specific economic and technical risks of failure associated with any production decision. Stewart A. Jackson, Ph.D., P.Geo., a “Qualified Person” within the meaning of National Instrument 43-101, has prepared, supervised the preparation of, and approved the contents of this News Release.
On Behalf of the Board, Newlox Gold Ventures Corp.
Contact Newlox
Ryan Jackson
Newlox Gold Ventures Corp., President
Website: www.newloxgold.com
Email: ryan@newloxgold.com
Phone: +1 778 738 0546
- Published in Mining, Newlox Gold, News Home
Granada Hits 2.39 g/t Gold Over 29 Meters Near Surface Including 7.72 g/t Over 4.5 Meters & 7.29 g/t Over 5.02 Meters
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to provide an update on its on-going drill program at Granada. This release contains drill results from the 100-series part 2, near-surface drill program targeting Vein 1.
Highlights:
- 2.39 g/t gold over 29m in hole GR-20-111 from 0.0 to 29.0m
- 7.72 g/t gold over 4.5m in hole GR-20-112 from 31.0 to 35.5m
- 7.29 g/t gold over 5.02m in hole GR-20-117 from 49.21 to 54.23m
The Company has now drilled a total of 9321.38 meters of the drill program (as of December 15th, 2020) of the current 12,000-meter program with 2 drills turning on site. This release represents 457 m of the program.
ASSAY RESULTS
Hole ID | From (m) | To (m) | Length (m) | Gold (g/t) |
GR-20-111 | 0.00 | 29.00 | 29.00 | 2.39 |
including | 3.00 | 7.50 | 4.5.00 | 3.59 |
including | 17.00 | 27.50 | 10.50 | 3.86 |
including | 17.00 | 18.50 | 1.50 | 7.96 |
GR-20-112 | 22.00 | 37.0 | 15.00 | 3.2 |
including | 31.00 | 35.50 | 4.50 | 7.72 |
including | 32.50 | 34.00 | 1.50 | 17.55 |
GR-20-113 | 3.50 | 15.50 | 12.00 | 0.53 |
GR-20-114 | 6.000 | 9.00 | 3.00 | 0.69 |
including | 6.0 | 7.50 | 1.50 | 1.2 |
GR-20-115 | 2.85 | 4.50 | 1.65 | 0.99 |
and | 33.00 | 40.22 | 7.22 | 0.73 |
including | 33.00 | 34.00 | 1.00 | 3.68 |
GR-20-116 | 11.90 | 19.00 | 7.10 | 0.71 |
including | 15.80 | 17.50 | 1.70 | 2.1 |
GR-20-117 | 18.00 | 27.0 | 9.00 | 0.46 |
and | 49.21 | 54.23 | 5.02 | 7.29 |
including | 50.13 | 51.63 | 1.50 | 22.31 |
including | 50.63 | 51.13 | 0.50 | 37.1 |
including | 57.50 | 59.05 | 1.55 | 4.67 |
Lengths are core length, no capping applied. Au is Gold by Fire assay, or by gravimetric finish or screen metallic method. Other assays results are still pending. The Company is being impacted by longer-than-expected turnaround time (TAT) of analytical results due to COVID-19 and extensive workload at ALS laboratory.
The 100-series holes were drilled to intersect the vein extension uncovered by stripping and to follow the high-grade corridor. Holes GR-20-111 to GR-20-113 are drilled within the vein structure. Holes GR-20-114 to GR-20-117 are vertical holes drilled to intersect the mineralized vein structures. Typical true thickness of the number 1 vein is 1.5 to 6 meters. The halo effect around vein 1 has been measured up to 20 meters true thickness with numerous mineralized veinlets hosting native gold. It has been estimated, based on metallurgical testing, that close to 50 percent of the gold is in native form and will be recovered from these veinlets.
Frank J. Basa, P.Eng., President and CEO., “The short-hole drill program, with its 3 objectives, has succeeded in defining further extension of the high-grade zones eastward, near surface. As well, we intersected the mineralized structure to measure total thickness immediately north of the stripping of the vein extension to the west of bulk zone. Moreover, the other holes have shown the extension to the NNE of the high-grade zone in the mineralized structure. The more we drill, the more gold we find. The typical Abitibi Gold Belt structure scenario is that there is gold mineralization in several large and smaller extensive, planar structures. Within the larger structures, there are zones of very high concentration of gold with visible gold observed and measured in the core. It appears that this enrichment is demonstrated on the Granada Property in the eastern blocks of the many senestral NNE faults – as seen in hole GR-20-110. We are pleased to have intersected high-grade structures in GR-20-117 where it has intersected the continuity of the very high-grade bulk zone at Granada – evidenced by the presence of visible gold.”
Vein 1 stripping and drill program
The stripping has confirmed the continuation of the mineralized structure from historical Pit #1 for up to 350m East-West. Pit #1, mined in 1994, extracted 87,311 tonnes grading 5.17 g/t Au (43-101 Technical Report dated February 13, 2019 on the Granada Gold Project Mineral Resource Estimate, Rouyn Noranda, Quebec authored by the Qualified persons, Allan Armitage, Ph. D.., P. Geo and Maxime Dupere, B.SC., Geo both of SGS Canada Inc. – Section 13.1).
Earlier this year, (Press Release August 11, 2020) the Company processed, by conventional gravity concentration, a large 1220-kilgram grab sample taken over a 3-meter strike length in this stripped area, resulting in the recovery of 55.6 g/t native gold. The native gold component for the Granada Gold Mine has been defined to represent an average of 50% of the recoverable gold (43-101 Technical Report dated February 13, 2019 on the Granada Gold Project Mineral Resource Estimate, Rouyn Noranda, Quebec authored by the Qualified persons, Allan Armitage, Ph. D.., P. Geo and Maxime Dupere, B.SC., Geo both of SGS Canada Inc. – Section 13.1). The gold-bearing sulphides were not recovered in that test.
Qualified person
The technical information in this news release has been prepared and reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc. member of Québec Order of Engineers and a qualified person in accordance with National Instrument 43-101 standards.
Quality Control and Reporting Protocols
All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA (Atomic Absorption) finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Columbia. The screen assay method is selected by the geologist when samples contain visible gold. The drill program, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes for this program in addition to the lab QA/QC.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop the Granada Gold Property near Rouyn-Noranda, Quebec. Approximately 120,000 meters of drilling has been completed to date on the property, focused mainly on the extended LONG Bars zone which trends 2 kilometers east-west over a potential 5.5 kilometers of mineralized structure. The highly prolific Cadillac Break, the source of more than 75 million plus ounces of gold production in the past century, cuts through the north part of the Granada property. But is not necessarily indicative of mineralization hosted on the company’s property.
Pit-Constrained Mineral Resources at Granada disclosed on February 13th, 2019 Press Release prepared by SGS independent QP Maxime Dupéré Geo. & Allan Armitage P. Geo “Technical Report on the Granada Gold Project Mineral Resource Estimate, Rouyn-Noranda, Quebec, Canada “stand at:
Category | Tonnes | Grade (g/t AU) | Contained Gold (oz.) |
Measured | 12,637,000 | 1.02 | 413,000 |
Indicated | 9,630,000 | 1.13 | 349,000 |
Measured & Indicated | 22,267,000 | 1.06 | 762,000 |
Inferred | 6,930,000 | 2.04 | 455,000 |
Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to a Measured and Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
* Pit constrained mineral resources are reported at a cut-off grade of 0.4 g/t Au within a conceptual pit shell.
The Granada Shear Zone and the South Shear Zone contain, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and half kilometers. Three of these structures were mined historically from two shafts and two open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 5 to 3.5 grams per tonne gold.
The Company is in possession of all mining permits required to commence the initial mining phase, known as the “Rolling Start”, which allows the company to mine up to 550 tonnes per day. Additional information is available at www.granadagoldmine.com.
“Frank J. Basa”
Frank J. Basa P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Granada Gold Mine Inc.
For further information: Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144 or Wayne Cheveldayoff, Corporate Communications, at 416-710-2410 or waynecheveldayoff@gmail.com
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- Published in Granada Gold Mine, Mining, News Home
High-Grade Visible Gold at 25 Grams Per Tonne Intersected at the Robinson Zone
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that Canada Silver Cobalt Works intersected high-grade gold mineralisation with cobalt within the high-grade silver-cobalt mineralized vein structures at the Castle property. Drilling continues around the clock, seven days a week with 2 drills. A 50,000-meter drill program is in place of which 18,000 meters have been completed.
Gold Highlights:
- CS-20-31 intersected 24.95 g/t Au over 0.30 meters from 49.70 – 50.00m with visible gold in calcite veining within Archean volcanic tuff.
- CS-20-31, drilled towards the North, intersected 3.82 g/t Au over 2.86 meters from 451.00 – 453.86m, including 6.11 g/t Au over 1.66 meters from 451.52 – 453.18m.
- CS-20-25, collared 300 meters northwest of CS-20-31, intersected three separate vein structures at shallower levels. This hole intersected 5.00 g/t Au over 1 meter, from 315.00 – 316.00m; 0.78 g/t Au over 0.8 meters, from 145.50 – 146.30m; and 0.6 g/t Au over 1 meter, from 240.00 – 241.00m.
Hole Name | From (m) | To (m) | Length (m) | Au (g/t) | Ag (g/t) | Co (ppm) | Cu (ppm) | Ni (ppm) |
CS-20-31 | 49.70 | 50.00 | 0.30 | 24.95 | na | na | na | na |
CS-20-31 | 451.00 | 453.86 | 2.86 | 3.82 | 4 | 1 339 | 226 | 164 |
Including | 451.52 | 453.18 | 1.66 | 6.11 | 5 | 2 015 | 64 | 230 |
CS-20-25 | 315.00 | 316.00 | 1.00 | 5.00 | 2 | 18 | 121 | 59 |
CS-20-22W2 | 634.00 | 637.00 | 3.00 | 0.72 | 0 | 57 | 98 | 87 |
Including | 636.00 | 637.00 | 1.00 | 1.27 | 0 | 33 | 91 | 85 |
CS-20-22W2 | 407.60 | 408.20 | 0.60 | 0.03 | 318 | 31 | 247 | 62 |
CS-20-25 | 145.50 | 146.30 | 0.80 | 0.78 | 1 | 23 | 33 | 31 |
CS-20-25 | 240.00 | 241.00 | 1.00 | 0.61 | 1 | 27 | 297 | 78 |
CS-20-26 | 565.62 | 566.00 | 0.38 | 0.07 | 1 546 | 90 | 173 | 74 |
CS-20-28 | 459.60 | 460.00 | 0.40 | 0.00 | 3 453 | 209 | 257 | 60 |
CS-20-28W1 | 466.00 | 466.30 | 0.30 | 0.02 | 638 | 111 | 131 | 53 |
The gold-cobalt mineralisation found in hole CS-20-31 is the fourth potential expansion to the Robinson system, giving at least 5 mineralized veins in the area. The vein in hole CS-20-31 appears to be a different orientation to the other en echelon veins identified and is the first vein in the Robinson system with significant gold results. A percentage of holes in this program has been allocated to identifying and following up on structures in this orientation. With this new discovery, the information previously gathered to the west is being revisited and reinterpreted to identify a potential connection between the Archean gold system previously identified and these veins found in the diabase.
Matt Halliday, P.Geo., Canada Silver Cobalt’s President, commented: “Hole CS-20-25 is confirming the working hypothesis regarding the potential correlation between the gold mineralization in the Robinson Zone and that previously identified in the gold zone immediately west of the Robinson where substantial Archean alteration typically associated with gold mineralisation has been recorded. Significantly, in hole CS-20-31, a gold structure within the Robinson Zone, that is associated with the silver-cobalt veins of the diabase, has been identified. Given the reports from this historic Camp of silver bars containing recoverable amounts of gold, this newly identified gold mineralization is extremely exciting. Additionally, CS-20-31 has visible gold near surface. This, and identifying further gold mineralization near surface, will dramatically impact the economics of the Robinson Zone vein system.”
Gold Target Above the Diabase
Starting 40 meters downhole and continuing to 368 meters, CS-20-24 intersected multiple, potential gold-bearing quartz-carbonate, multi-generational veins with sulphide mineralisation and intense alteration in the Archean package above the Nipissing diabase. Arsenopyrite was also noted in feldspar porphyry.
As reported by Canada Silver Cobalt on March 2, 2020, the last drill hole that targeted gold mineralisation at Castle East (CS-19-19) intersected 4.3 grams per tonne gold over four metres and 1.5 g/t Au over 12.5 metres within a 30-metre mineralised zone (core length, true width unknown at this time) grading 0.70 g/t (vertical depth approximately 240 metres). This broad interval included one metre that returned 15.2 g/t Au. This early-stage gold discovery is approximately 460 meters southwest of the visually encouraging zones encountered in CS-20-24, and the potential relationship between the two areas is being investigated as geologists await assays for this latest hole.
Now, with gold found in CS-20-31 near surface and within the diabase, the potential corridor of Archean gold has been increased by over 200m at surface. If the gold in the cobalt-silver veins comes from reactivated Archean structures, this could also indicate gold at depth below the diabase.
Location
The Castle Property is 15 km east of Pan American Silver’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.
Quality Assurance/Quality Control
Castle East core samples were collected using a 0.3-meter minimum length and a 1-meter maximum length. Drill core recovery averaged 95%. Two quality control samples (blank and standards) were inserted into each batch of 20 samples. The drill core was sawn with one half of the split core placed in a plastic bag with the sample tag and sealed, while the second half was returned to the core box for storage on site. Where silver or gold was visually and significantly present, a pulp-metallic analysis on full sample was requested for the silver and gold assays where the entire sample is dried, weighed and crushed over 95% then fully pulverized and passed through 200-mesh screen to create a plus 200-mesh fraction (metallics) and a minus 200-mesh fraction (pulp). The minus 200-mesh fraction (fines) was run using geochemical analysis with AA finish for Ag, Au, Cu, Ni, and Co. The entire +200 mesh (coarse) fraction was analyzed using gravimetric processes (fire assay) for both Ag and Au to provide a weighted average assay for the entire sample. Swastika Laboratories is an ISO 17025 certified lab independent of Canada Cobalt.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Matthew Halliday, P.Geo., (APGO) President 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 released the first-ever resource in the Gowganda Camp and greater Cobalt Camp. In May 2020. A total of 7.56 million ounces of silver in Inferred resources comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the east-trending Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020. 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.
Canada Silver Cobalt’s flagship Castle mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing Gowganda high-grade Silver District of Northern Ontario. 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 is strategically positioned to become a Canadian leader in the silver-cobalt space.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Silver Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/December2020/17/c4688.html
Contact:
Frank J. Basa, P.Eng., Chief Executive Officer, 416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
Rio Silver Initiates Baseline and Permitting Programs at the Niñobamba, Silver-Gold Project, Peru
Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) is pleased to announce the initiation of plans for diamond drilling at its 100% owned flagship holding, Niñobamba Silver-Gold Project, in the second half 2021 and provides an overview of the baseline and permitting activities underway.
D&M Ingenieros Consultores (D&M) has been contracted by the Company to undertake environmental baseline monitoring and to prepare and manage the necessary submittals for approval by the General Directorate of Mining Environmental Affairs of the Ministry of Energy and Mines, Peru.
The Company will pursue the DIA Category #1 approval for Medium and Large Mining Operations. This will also include professional archaeological investigations, community workshops and necessary liaison activities, currently underway employing dedicated personnel with successful experience in the local region. D&M will also monitor and report on achieved milestones with Citizen Participation in the Mining Subsector, corresponding with the local ministries and stakeholders together with the Company to ensure a successful path to initiate a multifaceted, resource defining, exploration campaign in 2021.
“I am very pleased to have professionally led crews mobilized at Niñobamba to update and build on much of the environmental baseline work recorded historically by the Company, Newmont, Anglogold and others,” said Chris Verrico, CEO. “I am also pleased with the progress our Community Liaison team has made, now joined by the 6 specialists from D&M, towards permitting the planned initial drill program and beyond. This work plan has been long anticipated and a major step towards putting Niñobamba’s geological status amongst its peers within this prolific trend that hosts some of the most successful and lowest cost gold and silver producers worldwide,” he added.
About D&M Ingenieros Consultores
D&M is an engineering firm located in Lima, Peru providing professional and analytical support for all aspects of the mineral extraction industry throughout Peru with a diverse team of professionals and a history of accomplishment undertaking challenging industrial development in sensitive environments.
About Niñobamba
The Company’s flagship, 100% owned Niñobamba Project, hosts 2 discreet precious metal targets at opposite ends of a 6.5 km prospective corridor in a prolific, precious metals hosting geological belt in central Peru. The Company has modelled 2 world class resource targets where previously the Company, Newmont Mining and others have spent upwards of US$10 million evaluating this mineralized trend. The silver-rich Niñobamba “Main Zone and South Zones” are drill ready and the Company’s geologists have targeted the near surface, silver and gold mineralization as a potential open pit. At the other end of this trend is the Jorimina Gold Zone that was the primary focus of the Newmont exploration programs.
About Rio Silver Inc.
Rio Silver has been a selective incubator, accumulating precious metal assets that afford only the best possible leverage and returns in anticipation of the current and increasingly more favorable precious metals bull market. At the Company’s recently acquired Palta Dorada Property in central Peru, a high grade mesothermal gold and silver vein system is currently being bulk sampled and processed by earn-in partner, Peruvian Metals Corp., who is earning a 50% interest by expending a total of US$250,000 at the property. Peruvian Metals operates the nearby Aguila Norte commercial mill where the bulk samples will be processed. Bulk mining may be ramped up if successful and could become a cashflow to backstop the Company’s overall exploration plans in a non-dilutive, shareholder friendly way. Plans for citing a dedicated processing facility at the Palta Dorada site, being only 45 kilometers of easy access from the Pan American Highway, will be investigated and could potentially be funded from cashflow.
We remain respectful and mindful of the current hardships being endured by our hosts in Peru as a result of this current pandemic. We remain impressed by the resilience and ingenuity of our host country as Peru continues to develop supportive mining policies to ensure continued growth and opportunity throughout Peru.
For further information,
Christopher Verrico, President, CEO
Tel: (604) 762-4448
Email: chris.verrico@riosilverinc.com
Website: www.riosilverinc.com
- Published in Mining, News Home, Rio Silver
Lake Winn Commences Drilling on the Cloud Project
Lake Winn Resources Corp. (“Lake Winn” or the “Company”) ( TSXV:LWR ) ( OTC:EQTXF ) is pleased to announce it has commenced drilling on the Cloud project, in the Flin Flon gold belt, Manitoba.
The first runs of core are being recovered from drill hole CP-2020-01. The hole is being drilled at an azimuth of 345 0 and a dip of 50 0. This hole is targeting the western side of the Bachnick gold zone (see figure 1). The 320m long zone is defined by over a dozen pits which returned gold values from grab and channel samples. It is hosted in mafic meta-volcanics and is estimated to be 115m wide at this point. The northern edge of this unit is marked by a distinct resistivity anomaly that also coincides with the Mikanagan fault. The plan is to drill across this zone and through the resistivity anomaly and the fault to the rocks beyond and complete the hole at plus/minus 200m depth. The concept is that the resistivity anomaly represents silica flooding from mineralizing fluids using the fault as a conduit. The mafic volcanics act as a chemical trap for these fluids. The hole, therefore, has two targets the geochemical anomaly of the Bachnick gold zone and the conceptual anomaly of the resistivity zone hosted by the Mikanagan fault.
The company plans a minimum of 1500m to 3,000m of drilling during this campaign and will continue to make public with news releases, milestones as the campaign progresses.
Click Image To View Full Size
Figure 1: Bachnick gold prospect, showing first drill hole CP-2020-01
Qualified Person
The Qualified Person for this news release is Buddy Doyle, AUSIMM, a Geologist of over 30 years’ experience in mineral exploration, discovery, and evaluation. A Qualified Person under the provisions of National Instrument 43-101. Carey Galeschuk, P. Geo. the project manager is a registered professional geologist in Manitoba.
About Lake Winn
Lake Winn Resources Corp., is a Vancouver based gold company, listed on the TSX Venture Exchange (Symbol: LWR) focusing on exploration and development of gold projects in Canada. The company’s flagship property, the Cloud Project is in the province of Manitoba, in the Flin Flon Gold Belt approximately 40 kilometers north‐east of the town of Flin‐Flon. Access to the property is provided by Manitoba highway 10 to the all‐weather Kississing Lake Road. The company is currently preparing for diamond drilling.
On Behalf of the Board of Directors of Lake Winn Resources Corp.
Patrick Power, President & CEO
+1 (604) 218-8772
- Published in Lake Winn Resources, Mining, News Home
Lake Winn Receives Results from Drone Based Magnetic Survey
Lake Winn Resources Corp. (“Lake Winn” or the “Company”) ( TSXV:LWR ) ( OTC:EQTXF ) is pleased to announce that it has received the final data from the drone based airborne magnetic survey regarding the Cloud project in the Flin Flon gold belt, Manitoba.
The survey was flown by Stratus Aeronautics Inc. based out of Burnaby BC. The survey was flown at 50m line spacings on a north-south grid. The work is designed to assist in the understanding of the geology of the Cloud project.
The magnetic data has immediately shown to map the mafic meta-volcanics that host 320m by 50m Bachnick gold zone and also demonstrates that this geology continues to the west under cover for an additional 1km. This unit, a “greenstone” is thought to host the gold mineralization and this will be the prime target for drill testing which commences next week. The parallel and adjacent IP and Resistivity anomalies will also be tested by drilling. Figure 1 depicts this data. Interpretation of the magnetic data will continue with a focusing on mapping structures.
Click Image To View Full Size
Figure 1: Airborne total magnetic intensity image of the Cloud Project
Qualified Person
The Qualified Person for this news release is Buddy Doyle, AUSIMM, a Geologist of over 30 years’ experience in mineral exploration, discovery, and evaluation. A Qualified Person under the provisions of National Instrument 43-101.
About Lake Winn
Lake Winn Resources Corp., is a Vancouver based gold company, listed on the TSX Venture Exchange (Symbol: LWR) focusing on exploration and development of gold projects in Canada. The company’s flagship property, the Cloud Project is in the province of Manitoba, in the Flin Flon Gold Belt approximately 40 kilometers north‐east of the town of Flin‐Flon. Access to the property is provided by Manitoba highway 10 to the all‐weather Kississing Lake Road. The company is currently preparing for diamond drilling.
On Behalf of the Board of Directors of Lake Winn Resources Corp.
Patrick Power, President & CEO
+1 (604) 218-8772
- Published in Lake Winn Resources, Mining, News Home
Lake Winn Awards Drilling Contract for the Cloud Gold Project Manitoba
Lake Winn Resources Corp. (“Lake Winn” or the “Company”) ( TSXV:LWR ) ( OTC:EQTXF ) is pleased to announce that it has awarded Rodren Drilling Ltd of St Paul, Manitoba the drilling contract for our Cloud project in the Flin Flon gold belt.
The rig will mobilize on December 7 th for a 1500m drill program with provision to expand to at least 3000m.
The project will be under the direct supervision of Carey Galeschuck P. Geo in Manitoba.
The drill target is a orogenic gold type target hosted in paleo-proterozic mafic volcanics in a similar setting to that found at the Tartan gold mine 14km to the east of the Cloud project.
A 320m by 50m zone of metamorphosed mafic volcanics, returned numerous high grade gold values when exposed by pitting in 1990. These results are shown in the accompanying figure 1. The results were later confirmed by check sampling that also returned high gold values. Visible gold was also noted. These predominately grab samples do not demonstrate economic viability as they are not representative, but they do show the zone to be mineralized. Silver also showed anomalous values. We are calling this zone the Bachnick Gold zone named after the prospector the carried out the work.
Click Image To View Full Size
Figure 1: Bachnick gold prospect, showing historic samples with gold results.
The Bachnick zone is nestled within a resistivity anomaly and lies to the north of a prominent IP anomaly. These will all be targeted in the upcoming drill campaign about to commence. The IP and Resistivity anomalies continue, slightly displaced by faulting for 1300m along strike and these extensions will also be drilled should the first test holes prove encouraging.
Qualified Person
The Qualified Person for this news release is Buddy Doyle, AUSIMM, a Geologist of over 30 years’ experience in mineral exploration, discovery, and evaluation. A Qualified Person under the provisions of National Instrument 43-101.
About Lake Winn
Lake Winn Resources Corp., is a Vancouver based gold company, listed on the TSX Venture Exchange (Symbol: LWR) focusing on exploration and development of gold projects in Canada. The company’s flagship property, the Cloud Project is in the province of Manitoba, in the Flin Flon Gold Belt approximately 40 kilometers north-east of the town of Flin-Flon. Access to the property is provided by Manitoba highway 10 to the all-weather Kississing Lake Road. The company is currently preparing for diamond drilling.
On Behalf of the Board of Directors of Lake Winn Resources Corp.
Patrick Power, President & CEO
+1 (604) 218-8772
- Published in Lake Winn Resources, Mining, News Home