Canada Silver Cobalt Works Inc (CVE:CCW) (OTCMKTS:CCWOF) (FRA:4T9B) has announced a major new vein discovery in the Robinson West area of Ontario.
This latest intercept, Vein 7, is about 650 metres (m) west of the Robinson Zone Discovery hole CA-1108, the company said in a statement.
- Significant silver intercept grading of 2,208 grams per ton (g/t) silver (64.4 ounces per ton) over 0.45m at a downhole depth of 548.43m.
- New corridor with a significant potential silver mineralized strike distance of 710m, striking towards the Robinson Zone.
- Increasing the current drill program to 60,000m from 50,000m to explore the extension.
The company notes that silver and cobalt mineralization in hole CS-21-50 (2208 g/t Ag) is in close proximity to its ”Gold Zone.” It said it will take a new strategic outlook to further develop this corridor.
READ: Canada Silver Cobalt Works updates on strategic developments at its Cobalt Camp assets in Ontario
Along with the orientation of the vein, Canada Silver Cobalt said there is additional information to support a continued trend to the east.
Based on the successful discovery of multiple veins to date, the company said it is increasing the current 50,000-meter drill program to 60,000m. The company has now completed 66% of the 50,000m, so far.
In addition, the company said geochemical surveys will be undertaken this summer to help define some of the Archean lithologies and structures that have had little work due to overburden cover.
Historically, the Nipissing diabase mafic intrusive lithology has been the focus of exploration in the Miller Lake Basin. The company is developing models to cover not only the silver-cobalt veining within the Nipissing but to include the Archean basement having identified both silver and gold mineralization there. To date, only orientation geochemistry surveys have been completed.
Canada Silver Cobalt said follow-up drilling is underway to intersect this vein both above and below CS-21-50 to determine the extent, grade, and mineralization variability.
Also, ongoing drilling in the area between the Robinson and Robinson West zones is geared toward identifying new veins to enable significant expansion to the existing resource panels.
“With this major new vein discovery highlighting the potential of geophysics to aid in the targeting of new veins, and the ability of geochemistry to identify potentially significant lithological changes near-surface, Canada Silver is excited to evaluate the entire lithologic package and expand the mineralogical potential of this ever-expanding prospectivity,” said President Matt Halliday.
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Story by ProactiveInvestors
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