TRU Opens Up New Copper-Gold-Silver Discovery at Golden Rose
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce assay results from a new drill discovery at its flagship Golden Rose Project in Central Newfoundland (“Golden Rose”). The 13-hole, 2,147.4 metre (“m”) drilling program focused on the Jacob’s Pond area, principally the Jacob’s Twin showing, one of the five grids property-wide where the Company recently completed an extensive IP Survey.
Highlights
- Drill intersection of multiple copper-gold-silver zones in altered conglomerate (table 1).
- Last hole to intersect the discovery, JP-22-13, returned high-grade copper and silver.
- Discovery remains open for expansion in multiple directions.
- 2022 soil sampling has defined a secondary promising target between 750m to 1.2 kilometres (“km”) southwest from the new discovery area.
Barry Greene, VP of Property Development and Director of TRU, commented: “It is always rewarding to drill under a newly discovered copper-gold bearing quartz-carbonate vein system and to upgrade it in drill core at depth. Our discovery hole, JP-22-10, and step-out hole, JP-22-13, confirms that we are in the early stage of defining an exciting new prospect with significant expansion potential. Additional step-out drilling will be required to start delineating shape, orientation and ultimately continuity of this new discovery.”
The Jacob’s Twin copper (“Cu”) -gold (“Au”) -silver(“Ag”) discovery contains multiple intervals of quartz-carbonate-sulphide veining (figures 1& 2).
The veining in hole JP-22-10 was discovered while drilling directly under a creek where a series of copper-gold bearing outcrops (see press release dated August 4, 2022) were found during 2022 summer exploration, with samples grading 1.10% to 4.19% Cu and 2.76 grams per tonne (g/t) Au. An upper mineralized zone in hole JP-22-10 from 129m to 142.3m was followed by a lower 22.6m zone from 178.4m to 201m down hole depth, containing quartz-carbonate veining and copper mineralization, the lower 3.0m interval of which assayed 1.03% Cu, 0.71g/t Au, and 24.95g/t Ag from 193.45m to 196.45m. Jacob’s Twin correlates with a high chargeability Alpha IP anomaly near the sheared contact with a flow banded rhyolite.
Follow-up drilling, in final hole JP-22-13, approximately 15m down dip of hole JP-22-10, also intersected a mineralized vein system between 187.5m-199.5m down hole depth (figure 2). The highlight of this zone assayed 1.10% Cu, 0.87 g/t Au, and 46.60 g/t Ag over 2.8m from 197 to 199.8m, including 1.14m at 2.19% Cu, 1.39g/t Au, and 108.3 g/t Ag from 198.66m to 199.8m.
TRU Co-Founder and CEO Joel Freudman added: “Drilling at Golden Rose continues to uncover the immense potential of this property, and we are barely scratching the surface. I am especially pleased with our intersect of high-grade copper, which is a critical mineral input in electric vehicles and a wide range of other ‘clean energy’ and industrial uses. With less than 7,000 metres drilled to date by TRU at Golden Rose, across two modest drill programs, we are already unveiling what we believe to be a polymetallic zone, in addition to the known gold zone elsewhere on the property. I want to acknowledge the efforts of our exploration executives, Barry Greene and Pearce Bradley, in securing the Jacob’s Pond area for TRU last year and advancing it to this new discovery zone. This is another step toward establishing that Golden Rose is geologically prospective and hosts multiple commodities, on a massive property package that has seen little to no exploration.”
Mr. Freudman continued: “Additionally, and of great significance to TRU, we are also excited that our neighbour Marathon Gold has publicly disclosed its intention to commence mine construction at the Valentine Gold Project in early 2023, becoming an operating mine producing gold by early 2025. We expect this will attract renewed interest to the Valentine Lake Shear Zone, as TRU continues to build a turnkey polymetallic project with a robust pipeline of drilling and exploration potential.”
The Company continues to await final assay results for some holes peripheral to the primary mineralized zones,which are not expected to return significant values of mineralization.
A second promising drill target is shaping up along the same structural trend approximately 750m to 1.2km to the southwest of the Jacob’s Twin target area (figure 1). This new target contains many highly anomalous Au and Cu soil anomalies in a tightly clustered grouping and along the same trend of anomalous IP chargeability. This area shows the potential for expansion of the mineralized system along a regional trend.
Figure 1 – Jacob’s Twin drilling with high priority target along trend
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/5993/137998_bb42846a44b24933_001full.jpg
Figure 2 – Cu-Au-Ag discovery in quartz-carbonate-sulphide veins from DDH JP-22-10
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/5993/137998_bb42846a44b24933_002full.jpg
Table 1 – Jacobs Twin Cu-Au-Ag-Target – uncut assay highlights
Hole No. | From (m) | To (m) | Interval (m) | Cu (%) | Au (g/t) | Ag (g/t) | Zone |
JP-22-05 | 45.00 | 51.00 | 6.00 | 0.32 | NSV | 1.98 | |
JP-22-07 | 43.00 | 45.00 | 2.00 | 0.43 | NSV | 1.50 | |
And | 49.00 | 51.00 | 2.00 | 0.49 | 0.40 | 17.05 | |
JP-22-10 | 128.90 | 140.00 | 11.10 | 0.25 | NSV | 7.36 | Upper Zone |
Including | 131.15 | 137.00 | 5.85 | 0.37 | NSV | 12.72 | |
And | 183.30 | 200.00 | 16.70 | 0.40 | NSV | 6.01 | Lower Zone |
Including | 192.25 | 200.00 | 7.75 | 0.53 | 0.35 | 12.15 | |
Including | 192.25 | 195.70 | 3.45 | 0.81 | 0.71 | 21.04 | |
Including | 193.45 | 196.45 | 3.00 | 1.03 | 0.71 | 24.95 | |
JP-22-13 | 197.00 | 199.80 | 2.80 | 1.10 | 0.87 | 46.60 | |
Including | 198.66 | 199.80 | 1.14 | 2.19 | 1.39 | 108.30 |
Figure 3 – IP chargeability zone with mineralized zones indicated
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/5993/137998_bb42846a44b24933_003full.jpg
Table 2 – Jacobs Twin Collar Details
Hole No. | Azimuth (degree) | Dip (degree) | Length (m) | UTM E | UTM N |
JP-22-1 | 337.5 | -77 | 181 | 451818 | 5343981 |
JP-22-2 | 157.5 | -45 | 131 | 451643 | 5344130 |
JP-22-3 | 337.5 | -65 | 221 | 451643 | 5344130 |
JP-22-4 | 337.5 | -45 | 212 | 452110 | 5344056 |
JP-22-5 | 337.5 | -45 | 104 | 451036 | 5343527 |
JP-22-6 | 337.5 | -75 | 116 | 451036 | 5343527 |
JP-22-7 | 337.5 | -45 | 89 | 451074 | 5343542 |
JP-22-8 | 337.5 | -45 | 119 | 451084 | 5343520 |
JP-22-9 | 337.5 | -45 | 89 | 451099 | 5343556 |
JP-22-10 | 337.5 | -68 | 228.4 | 450989 | 5343367 |
JP-22-11 | 337.4 | -79 | 224 | 451081 | 5343405 |
JP-22-12 | 337.5 | -50 | 203 | 450887 | 5343353 |
JP-22-13 | 337.5 | -68 | 230 | 450994 | 5343354 |
Drilling Quality Assurance/Quality Control (“QA/QC”)
All NQ core is geotechnically measured, logged and marked for sampling. The core is then cut by Company personnel, with half put into bags with unique sample tags for identification while the other half is retained for reference. CRM standards and blanks are inserted at regular intervals in the sample stream. The bags are sealed with a security tag and are then transported directly to the lab by TRU staff. Core samples are analyzed at either SGS in Burnaby B.C., or Eastern Analytical Ltd. (“Eastern Analytical”) of Springdale, NL.
Eastern Analytical is a commercial laboratory that is ISO/IEC 17025 accredited and independent of TRU. Eastern Analytical pulverized 1,000 grams of each sample to 95% < 89 mum. Samples are analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. All samples with visible gold or assaying above 1.00 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Standards and blanks are inserted at defined intervals for QA/QC purposes by the Company as well as Eastern Analytical. True widths for reported intervals have yet to be determined.
SGS is a commercial laboratory that is independent of TRU. Rock and core samples are shipped to the SGS Grand Falls-Windsor Mobile Sample Prep facility where they are sorted, logged, weighed, dried at 105 C, crushed to 75% passing 2 mm, split to 250 g, and pulverized for 85% passing 75 microns. Pulps are shipped within the SGS lab network to SGS Burnaby, where they are typically tested by 30 g fire assay with AAS for gold, and aqua regia digest with ICP-AES for the 34 element package. Over limit analysis for Au is done with fire assay and gravimetric finish, and multi-elements by ore grade sodium peroxide fusion with ICP-AES.
Soil samples are sorted, logged, weighed, dried at 60 C and screened to 180 microns. Undersized material is shipped to SGS Burnaby, where samples are typically tested by 30 g fire assay with ICP-AES for gold and aqua regia digest with ICP-AES for the 34 element package.
SGS laboratories operate a Laboratory Information Management System (SLIM). The SLIM system includes method set up protocols (analytes, ranges, internal QC materials that include blanks, duplicates, replicates, and reference materials) as well as their frequency of insertion and tolerance requirements. Quality control is performed at the sample preparation stage to include % passing requirements at the crush and the pulverizing stages at set frequencies and QC samples are added to every batch of samples throughout the entire process at a frequency of ~10-15% and include preparation blanks, preparation duplicates, pulp replicates, method blanks and certified reference materials. SLIM is also used to monitor our internal processes for instruments, equipment, sample tracking, storage and reporting formats. SLIM uses a secure and complete audit trail to ensure traceability and confidentiality.
SGS Burnaby facility is accredited to the requirements of ISO/IEC 17025 for various tests listed on their scope of accreditation at https://www.scc.ca/en/search/laboratories/sgs
The TRU exploration program design is consistent with industry best practices and the program is carried out by qualified persons employing a QA/QC program consistent with National Instrument 43-101.
National Instrument 43-101 Disclaimers
Note that soil, rock and float samples are selective by nature, and values reported may not represent the true grade or style of mineralization at Golden Rose. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its qualified person at Golden Rose to define a mineral resource or mineral reserve; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource or mineral reserve.
The reader is cautioned that descriptions of mineralization, soil anomalies and IP anomalies reported in this news release are preliminary and/or early-stage results. While these features are considered encouraging, there is no guarantee that these features will return significant gold and/or copper values when drilled.
Qualified Person
Barry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently, TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 233 km2 land package, including a newly discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray – Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
- Published in Uncategorized
CANADA SILVER COBALT BEGINS TO PRODUCE METAL CONCENTRATES FOR EV CLIENT EVALUATION
Two tonnes of high-grade mineralized material recovered during voluntary surface site rehabilitation at the past-producing Castle and Beaver mines, in addition to high-grade silver tailings from the mines, will be processed at Canada Silver Cobalt Works Inc.’s Temiskaming testing labs (TTL) high-grade bulk processing facility in nearby Cobalt, Ont.
“Having met with South Korean EV metal buyers last week and with the TTL bulk processing facility fully commissioned, including the newly installed gravity processing plant (see news release September 14, 2022), we have begun processing two bulk samples totaling approximately two tonnes mineralized rock recovered from the waste piles and high-grade silver tailings at our Castle and Beaver Mines. We are doing this to produce a concentrate we can use for further testing of our Re-2Ox process and also to demonstrate the role that the upgraded TTL facility can play in processing high-grade mineralized material from the Cobalt Camp,” stated CEO Frank J. Basa, P.Eng.
At TTL, the waste rock material will first be crushed and ground before being screened at 20 mesh to recover potential native silver for processing into silver dore bars using the facility’s bullion furnace.
The remaining sulphide material will then pass through the gravity plant to produce a high-grade gravity concentrate, which will be assayed for cobalt, nickel, copper, silver, gold and arsenic (arsenic is one of the metals the US have on their critical metals list).
The high-grade silver tailings will be first screened at 20 mesh to remove any organics and then processed through the TTL gravity plant to produce a concentrate.
The Company plans to send these high-grade gravity concentrates to SGS Canada’s laboratory facility in Lakefield, Ontario where, using the Company’s proprietary Re-2Ox process, they will be converted into battery metals needed in the EV industry.
In 2018, the environmentally friendly Re-2Ox process was used at SGS Lakefield to produce a technical-grade cobalt sulphate hexahydrate at 22.6%, directly from cobalt-rich gravity concentrates produced from mineralized material removed from the first level of the Castle mine. The 22.6% cobalt sulphate compound exceeded the specifications required at that time by battery manufacturers including Japan’s Sumitomo Metals. The gravity concentrates used for this had graded 9.25% cobalt, 5.65% nickel, 49.9% arsenic and 9.25 g/t silver. The Re-20x process recovered 99% of the cobalt and 81% of the nickel from the concentrate while also removing 99% of the arsenic – a long-time issue in the cobalt-rich Cobalt Camp but now a critical metal. (See news releases January 15, 2021 and May 31 and August 15, 2018.)
The Company regards the proprietary Re-2Ox process as a long-term strategic advantage that will facilitate the production of battery metals for the EV market for many years. It is a closed-loop, zero-discharge hydrometallurgical process with no smelting or burning involved, which can meet stringent Canadian and International environmental standards and traceable verification. It is, additionally, more energy efficient than existing processes which use smelting and could have the potential to be used widely in base metals processing especially where high amounts of arsenic are present.
Qualified Person
The technical information in this news release was reviewed and approved by Frank J. Basa, P.Eng., 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. 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.
In May 2020, based on a small initial drill program, the Company published the region’s first 43-101 resource estimate that contained 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 Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. 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 Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed an almost 15,000-metre drill program on the Graal property and an airborne VTEM geophysical survey recently completed at its Lowney-Lac Edouard property; and (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle’s high-grade Macassa Mine near Kirkland Lake, Ontario where it is exploring in 2022.
Canada Silver Cobalt’s flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, 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. More information at www.canadasilvercobaltworks.com .
We seek Safe Harbor.
- Published in Canada Cobalt Works, Mining, News Home
CANADA SILVER COBALT REPRICES AND EXTENDS WARRANTS AND ANNOUNCES WARRANT EXERCISE INCENTIVE PROGRAM
Canada Silver Cobalt Works Inc. intends to reprice an aggregate of 3,997,333 outstanding common share purchase warrants issued pursuant to a private placement that closed on Nov. 25, 2020. The warrants have an exercise price of 80 cents and an expiry date of Nov. 27, 2022. The company will amend the warrant exercise price to 11.25 cents per share and extend the warrant expiry date by two years to Nov. 27, 2024.
The warrants, as amended, will be subject to an accelerated expiry provision such that if for any 10 consecutive trading days during the unexpired term of the warrants, the closing price of the company’s shares on the TSX Venture Exchange exceeds 14 cents, representing the amended warrant exercise price of 11.25 cents plus 25 per cent, the exercise period of the warrants will be reduced to 30 days, starting seven days after the last premium trading day. The company will announce any such accelerated expiry date by press release. All other terms of the warrants remain unchanged.
The amendments described above are subject to approval by the holders of the warrants and by the TSX Venture Exchange.
Warrant exercise incentive program
The company also announces that if it obtains warrant amendment approval, the company will institute a warrant exercise incentive program designed to encourage the early exercise of the 3,997,333 warrants. Under the incentive program, the company will offer an inducement to each warrant holder that exercises its warrants during a period of 30 days from receipt of warrant amendment approval, by the issuance of one additional common share purchase warrant for each warrant exercised during the 30-day period. Each incentive warrant will entitle the holder to purchase one additional common share of the company at a price of 15 cents for a period of one year from the date of warrant amendment approval.
The incentive program will commence upon receipt of warrant amendment approval and will expire 30 days thereafter at 4 p.m. Vancouver time. The incentive warrants will include an accelerated expiry provision such that if, for any 10 consecutive trading days during the one-year term of the incentive warrants, the closing price of the company’s shares on the TSX Venture Exchange is at least 15 cents, the exercise period of the incentive warrants will be reduced to 30 days. The company will announce any such accelerated expiry date of the incentive warrants by press release.
The company intends to issue an updating news release upon receipt, if any, of warrant amendment approval and commencement of the incentive program, outlining the terms and conditions and the method of exercising warrants pursuant to the incentive program.
The incentive program is subject to approval by the TSX Venture Exchange.
About Canada Silver Cobalt Works Inc.
Canada Silver recently discovered a major high-grade silver vein system at Castle East located 1.5 kilometres from its 100-per-cent-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 60,000-metre drill program aimed at expanding the size of the deposit with an update to the resource estimate under way. In May, 2020, based on a small initial drill program, the company published the region’s first National Instrument 43-101 resource estimate that contained a total of 7.56 million ounces of silver in inferred resources, comprising very high-grade silver (8,582 grams per tonne uncut or 250.2 ounces per ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson zone, beginning at a vertical depth of approximately 400 metres. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver press release dated May 28, 2020, for the resource estimate, report reference: M. Rachidi, 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 company also has: (1) 14 battery metal properties in Northern Quebec, where it has recently completed a nearly 15,000-metre drill program on the Graal property; and (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle’s high-grade Macassa mine near Kirkland Lake, Ont., where it will be exploring in 2022. Canada Silver’s flagship silver-cobalt Castle mine and 78-square-kilometre Castle property feature strong exploration upside for silver, cobalt, nickel, gold and copper. With underground access at the fully owned Castle mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, 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 is strategically positioned to become a Canadian leader in the silver-cobalt space.
- Published in Canada Cobalt Works, Mining, News Home
Canada Silver Cobalt Completes Commissioning of High-Grade Processing and Gravity Plants at TTL Facility
Coquitlam, BC – TheNewswire – September 14, 2022 – Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that its 100%-owned Temiskaming Testing Labs (TTL) high-grade processing plant, that has zero discharge, is fully operational and ready for processing the high-grade mineralized material from the Cobalt Camp into silver dore bars as it was originally designed to do.
“We have rebuilt the TTL facility, including upgrades to the secondary crushing circuit and installation of a new gravity plant. TTL is now ready to begin the processing of high-grade mineralized material and tailings from mining properties in the area, including tailings from the Company’s past-producing Beaver Mine and Castle Mine. This is another important step in building our capability as a fully integrated mining operation right through to the production of silver dore bars,” stated CEO Frank J. Basa, P.Eng.
The 20,000-square-foot TTL facility is located in the Town of Cobalt, Ontario, in the centre of the historic Cobalt Mining Camp where 600 million ounces of silver and 30 million pounds of cobalt were produced during the 1900s. The facility was originally established in its current location by the Ontario government in 1941 as a public service facility offering laboratory services, high-grade ore processing and a bullion furnace to nearby mining operations. It was used by companies such as Agnico Eagle and Teck in their early days of silver mining operations in the area to pour in excess of two million ounces silver annually in silver dore bars. Using TTL’s bullion furnace, Canada Silver Cobalt poured three silver dore bars from Castle Mine waste material as a proof-of-concept test in 2019.
Canada Silver Cobalt completed the purchase of the TTL facility from a private operator in 2020. Since then, it has conducted a number of test runs and completed the commissioning of the secondary crushing circuit. As a result, TTL has a complete crushing and screening high-grade processing plant with a 20-tonne-per-hour capacity for high-grade mineralized feed from mining operations in the area (see news release September 8, 2021).
In addition, the Company recently installed a new gravity plant at TTL that is closed loop with a water recycle step (see news release January 18, 2022). The two-stage gravity plant, which is designed to operate at 24 tonnes per day, is now fully commissioned and includes a spiral concentrator feeding the concentrate to a conventional gravity table. A supplementary Falcon high-grade gravity concentrator is currently being installed.
The Company intends to use TTL for processing high-grade mineralized material from its Castle and Beaver mines as well as from the Castle East high-grade silver deposit when it has access to the high-grade veins there through the building of a ramp which is currently in the planning stage.
Qualified Person
The technical information in this news release was reviewed and approved by Frank J. Basa, P.Eng., 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. 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.
In May 2020, based on a small initial drill program, the Company published the region’s first 43-101 resource estimate that contained 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 Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. 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 Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed an almost 15,000-metre drill program on the Graal property and an airborne VTEM geophysical survey is being conducted at its Lowney-Lac Edouard property; and (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle’s high-grade Macassa Mine near Kirkland Lake, Ontario where it is is exploring in 2022.
Canada Silver Cobalt’s flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, 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. More information at www.canadasilvercobaltworks.com .
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
- Published in Canada Cobalt Works, Mining, News Home