Canada Silver Cobalt Reports More High-Grade Silver up to 5,887.59 g/t Ag with a Gold Equivalent of 73.80 g/t Au at Castle East
Excellent assay results from both 17Mand 50 West Zones provide continuous expansion to known mineralizationand the upcoming resource update.
Coquitlam, BC - TheNewswire -February 22, 2022 - Canada Silver Cobalt WorksInc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B)(the "Company" or "Canada Silver Cobalt") ispleased to announce the continued expansion of its high-grade silverdeposit at Castle East with excellent intercepts from the 17M and 50West Zones. These drill results will be included in the planned majorresource update expected by the end of Q1 2022.
Drilling Highlights:
- 17M Zone grades include 5,887.59 g/t silver and 0.17%cobalt over 0.53m in hole CS-21-54W1, as well as 811.06 g/t silverover 0.53m in hole CS-21-73. The vein in CS-21-54W1 belongs to one ofthe more dominant structures in the vein network that comprises the17M Zone. The intercept is located roughly 23m to the north of the 17MZone intercepts in CS-21-39, CS-21-39W2, and CS-21-39W4 (See newsrelease August 23, 2021).
- 50 West Zone grades include 975.57 g/t silver over0.72m and 852.23 g/t silver over 0.65m, both from hole CS-21-72. Theseintercepts are located approximately 150m from the intercept indiscovery hole CS-21-50 that graded 2,208.00 g/t silver over 0.44m(See news release August 23, 2021). Additional drilling is needed toconfirm whether this is an extension to the 50 West or a newstructure.
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Matt Halliday, President, and Chief Operating Officer,commented: “Recent news releases have shown that our geologicalexploration team can continue to deliver at Castle East. On January10, we reported a 2,571 g/t silver intercept at our 61 Zone, onJanuary 24 a 6,188 g/t silver intercept at the Big Silver Zone, andnow we have intercepted 5,887 g/t silver within the 17M Zone. This isvery exciting especially as we inch closer to our resource updateexpected by the end of Q1 2022. These new zones add significant valueto the property and contribute to the attractiveness of the plannedramp and PEA. Our Gowganda assets are growing, and we are gettingready to discover more deposits on our broad property package.”(SeeJanuary 31, 2022 news release for what is planned at eachproperty.)
Ongoing drilling in the Castle East area has beengeared toward expanding the existing resource panels outlined in theCompany’s maiden Resource Estimate reported in a news release May28, 2020. The resource estimate was the first ever in the GreaterCobalt Camp and identified zones 1A and 1B of the Robinson Zone withan average silver grade of 8,582 g/t (250oz/ton) in a combined 27,400 tonnes of materialfor a total of 7.56million Inferredounces of silver using a cut-off grade of 258g/t AgEq (mineral resources that are not mineral reserves do not havedemonstrated economic viability). Report reference: Rachidi, M. 2020,NI 43-101 Technical Report Mineral ResourceEstimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020 and asignature date of July 13, 2020.
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