Canada Silver Cobalt Works Inc (CVE:CCW) (OTCMKTS:CCWOF) reported the discovery of additional “visually high-grade silver” samples in wedge hole CS-20-39 W2 in the Robinson Zone at its Castle mine property in Ontario’s Cobalt Camp, which have been shipped to SGS Lakefield for rush analysis.
The company said the wedge hole is located 5 (m) metres above a comparable vein observed in hole CS-20-39, which it says confirms the extension of the high-grade silver mineralization in this vein.
“Continued success of intersecting high-grade silver mineralization in the area gives us a better understanding of the developing geological model. Numerous other silver-cobalt mineralized veins were also intersected in this wedge hole,” Canada Silver Cobalt Works President Matt Halliday said in a statement.
READ: Canada Silver Cobalt Works announces new high-grade mineralized vein at Robinson Zone on its Castle Silver Mine property
He added: “With two drills turning and wedging ongoing, the team on the ground continues to efficiently advance on schedule.”
The company noted that a sample from the original hole CS-20-39 is currently at SGS Lakefield laboratory pending assay.
CEO Frank Basa also weighed in on the announcement, stating: “With silver and cobalt mineralization in the same vein structures, Canada Silver Cobalt Works is uniquely positioned in the electric vehicle market place.”
He added: “Silver is becoming the new energy metal. Samsung recently revealed in an article that they developed a solid-state electric vehicle battery with 500-mile range and a life cycle of 1000 recharges. That’s a vehicle with a battery that lasts 500,000 miles, which is better than any other Lithium-ion battery on the market today.”
In May 2020, Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp.
A total of 7.56 million ounces of silver was put in the Inferred category, comprising high-grade silver (8,582 grams per tonne) from two sections of the Robinson Zone beginning at a vertical depth of about 400 meters.
Contact Sean at [email protected]
Story by ProactiveInvestors
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