The Castle property of Canada Silver Cobalt Works (WKN A2JEX7 / TSXV CCW) is in the very best of company, for example just 15 kilometers east of Pan American Silver’s Juby gold deposit or 30 kilometers south of Alamos Gold’s Young Davidson mine. Canada Silver Cobalt has so far proven above all extremely high-grade silver mineralization and cobalt – but now comes up with high-grade gold mineralization!
The drills on the Castle property are currently rotating continuously and have completed 18,000 meters of a 50,000 meter drill program that the Company is testing the high grade silver and cobalt mineralized structures of the property. And this is exactly where you came across high-grade gold mineralization with cobalt!
The gold highlights of the drilling results now presented:
– 24.95 g / t gold over 0.30 meters with visible gold,
– 3.82 g / t gold over 2.86 meters including 6.11 g / t gold over 1.66 meters and
– Three different vein structures closer to surface with 5.00 g / t gold over 1 meter, 0.78 g / t gold over 0.8 meters and 0.6 g / t gold over 1 meter.
(See the company’s press release for full results.)
The particularly high-grade gold and cobalt mineralization was identified in the fourth, potential expansion of what is known as the Robinson system, so that at least five veins have now been identified in the area. The newly detected vein appears to have a different orientation than the other veins discovered there and is the first vein in the Robinson system with significant gold grades.
Canada Cobalt Silver will use a portion of the drilling in the ongoing program to identify and follow-up structures in this orientation. In light of this new discovery, the company is reviewing information previously obtained in a westerly direction. It could be reinterpreted to mean that there is a potential connection between a previously discovered Archean gold system and the veins that have now been identified.
Matt Halliday, Canada Silver Cobalt’s President, believes this development, as well as the near surface visible gold discovered in another hole, is “very exciting”. This, as well as the potential for further gold mineralization to be found near surface, could dramatically increase the economics of the Robinson Zone vein system, Halliday believes.
While we have yet to see how to expand this high-grade gold-bearing mineralization, we believe this is a very exciting and potentially meaningful discovery. We are very excited about the next drilling results!
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