Canada Silver Cobalt Works Inc. (TSXV: CCW | OTCQB: CCWOF | FSE: 4T9B) reported assay results from samples collected during prospecting in the Miller Lake area at the company’s Castle Mine property in Ontario. This includes a selected grab sample which assayed 6.07g/t Au and was picked up at surface.
“This is both surprising and significant for us. Silver and cobalt veins were typically found at the surface at Castle and elsewhere in the broader Cobalt Camp, but it has been rare to find gold at the surface and with such a high grade, but it makes sense with the geological context of the Archean basement here in the Abitibi,” said Matthew Halliday, Canada Silver president and COO.
“We regard this surface sample of high-grade gold as a breakthrough in our efforts aimed at unlocking the full mineralization potential at Castle, and it provides compelling support for the extension of the stripping operations we are planning just to the north of it.”
A quick prospecting trip northwest of Miller Lake in June delivered a grab sample result containing 6.07g/t Au. The sample is of a rusty orange and white weathering, pervasively altered (iron carbonate, quartz, albite) intrusive rock hosting 5% fine-grained pyrite and minor quartz veining and stringers. The sample was collected 165m west of the north shore of Miller Lake, and 250m southwest of historic outcrop stripping and channel sampling (2014 and 2015) which also yielded gold in assay results.
Additionally, several additional samples with gold grades ranging between 0.10 to 0.28g/t Au (FW000358, FW000359, and FW000360). These samples are similarly described as rusty, bleached, and altered, hosting pyrite and quartz stringers. These samples were collected 80m west of the north shore of Miller Lake.
Previous reports of gold at the Castle Mine property were mainly in drill intercepts well below the surface.
Canada Silver has previously announced a first-stage stripping programme for its Castle Mine property. The work has encountered minor delays due to the smoke from forest fires, which has presented challenging working conditions, and equipment problems.
For further information, please visit: www.canadasilvercobaltworks.com
