Canada Silver Cobalt Works Inc. has released gold assay results from its 60,000-metre 2020-2022 drilling programme and reviewed the company’s gold data from the 2011-2019 surface drill and 2014 channel sample programmes at Castle East, as well as the underground drilling programme from 2019 at its Castle Mine. The company has discovered gold mineralisation in the Nipissing Diabase, where most of the silver-cobalt veins occur, as well as in the Archean Lithologies above the diabase sill.
The results of the drilling programme and data review have shown significant gold mineralization in the Gowganda area, not only in the Nipissing Diabase, where most of the silver-cobalt veins occur, but also in the Archean Lithologies above the diabase sill.
Why it matters:
The significance of these intercepts is that Castle East is no longer simply a silver-cobalt type deposit, but now has a third, very critical element – gold. This discovery of gold mineralisation in the area could potentially increase the value of the deposit and open up new opportunities for mining and exploration. The company believes that the discovery hints at further shallow silver and gold mineralisation in the surrounding area, and it warrants further exploration to understand the extent and connectivity of the mineralisation, as well as to fully understand the relationship between the high-grade silver veins and the gold mineralisation.