Canada Silver Cobalt Works Inc (CVE:CCW) (OTCMKTS:CCWOF) (FRA:4T9B) said that its environmental study on its Castle East property is “on track,” with Gap Analysis completed and 10 wells installed since initiating the study in February.
The junior resource firm is in the midst of the second phase of a three-phase program to complete the environmental study and permitting, it told shareholders.
Phase One involved completing the Gap Analysis that outlined multiple studies to move the project forward, the company added.
READ: Canada Silver Cobalt intersects major mid-grade silver vein west of Robinson Zone Discovery in Ontario
Studies currently underway include groundwater monitoring, surface water analysis, aquatic and terrestrial studies as well as a hydrology analysis of the surface water at Miller Lake.
In the coming months, Canada Silver said it will start hydrogeological and geochemical studies to help allow the development of a hydrogeological model and determine the potential for acid rock drainage or metal leaching.
“I am pleased to announce that the environmental permitting and baseline study at Castle East is well underway,” Canada Silver’s vice president exploration Matthew Halliday said in a statement.
“This has been an extremely busy year for Canada Silver Cobalt; not only have we completed our Maiden Resource in May 2020 but, since then, have drilled over 35,000 metres of the 60,000-metre program which will contribute significantly to a resource update. By initiating these activities early, we will ensure that the permitting process will be smoother and accomplished in a timely manner to take full advantage of this silver cycle.”
The Castle property includes the Castle mine and 78-square-kilometre Castle property, which features strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing Gowganda high-grade silver district of northern Ontario.
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Story by ProactiveInvestors
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