Sunday, 01 November 2020

Canada Silver Cobalt Expands Robinson Zone by 500 Percent, Intersects New High-Grade Vein

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  • PRN | 15 days ago
COQUITLAM, BC: Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the Company or Canada Silver Cobalt) is pleased to announce a major reinterpretation of the past-producing Gowganda Silver Camp, 75 kilometers southwest of Kirkland Lake, and vast expansion to the mineralized Robinson Zone at Castle East with just the first 9,000 metres in Phase 1 of the 50,000-metre drill program in this exciting high-grade grassroots silver discovery.

Highlights

3,452 g/t silver over 0.4 metres downhole in hole CS-20-28 intersected 75 metres above Robinson Zone original intersection in an all-new vein

Targeted exploration area significantly enlarged up to 135 metres East-West, up to 100 metres North-South and up to 256 metres vertically - resulting in a 500% increase in known mineralized area

At least 4 new mineralized veins identified in the first 9,000 metres of 50,000 metre drill program

Strategic drilling has opened up at least 3 new veins - including 3,452 g/t silver over 0.4 metres (true width unknown) downhole - an all-new vein intersected in hole CS-20-28, 75 metres above Robinson Zone original intersection - at a depth of 347 metres. Additionally, the Company is very encouraged with the intersection of multiple, large carbonate veins at depth, conveying a strong plumbing network to the Robinson Zone and Castle East. These additional veins contain sufficient silver mineralization to justify further targeting them in search of potential high-grade mineralized panels. Mineralization is being added to the east-west lateral extent of the Zone along with new veins to the north and the south. The deposit model is continually updated to extract new and valuable structural and geochemical information.

Due to the early and significant successful progress to date - Canada Silver Cobalt Works has completed 18% of the initial, proposed 50,000-metre drill program - the Company is already considering expanding the program to follow up on the newly identified mineralized veins as well as to further expand the potential exploration horizon. There are currently 2 drill rigs on site drilling round the clock. The Company is redefining historic assumptions about silver exploration in the Gowganda Camp.

The uppermost mineralized vein intercept in hole CS-20-31 (assays pending) occurs less than 10 metres below the upper contact, at a vertical depth of 336 metres and the original high-grade vein intersection in hole CA-1108 grading 40,944 g/t silver (1,194 oz/ton) over a core length of 0.45 metres with a true width of approximately 7cm (refer to August 25, 2011, Gold Bullion Development news release) at a vertical depth of approximately 430 metres. Another deep mineralized vein was intersected in CS-20-22W3 (assays pending), the deepest one to date, at 592 metres vertical depth.With these recent new mineralized vein discoveries, the vertical extent of significant silver mineralization has now reached 256 metres.

Notably, vein intersections at Castle East exist in both the upper and lower parts of the Nipissing diabase sill, near the contact with the Archean volcanics, greatly enhancing the deposit potential of the area with implications for the broader Camp where historic production was predominantly within the upper half of the diabase sill. CCW now has a greater opportunity to expand the Robinson Zone since the potential mineralized horizon is much larger than originally believed.

Matt Halliday, P.Geo., VP-Exploration, commented We are excited about the drill program; we initiated a large-scale drill program and we are realizing the results. We have moved from a single vein at the Robinson to at least 4 mineralized veins, greatly expanding the potential for new high-grade panels. We have expanded the traditional mineralized horizon. It has been noted in literature that the upper third to upper half of the diabase sill is the mineralized horizon - it is now our belief that the entire diabase sill has the potential to be mineralized.

Canada Silver Cobalt Expands Robinson Zone by 500 Percent, Intersects New High-Grade Vein

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