New resource report coming for Castle East My expectations based upon CCW NRs and publicly available information. I expect a material increase in the resource estimate.
7.5 M Oz of inferred silver ounces came from 9 holes in the Robinson zone.
It used an economic cut off of 258 g/t of silver
https://resourceworld.com/canada-silver-cobalt-works-releases-castle-resource-estimate/
Four holes (CS-19-08W1, CS-19-08W2, CS-19-08W3 and CS-19-W4) were wedged off the 2011 hole followed by four holes (CS-19-20, CS-19-21, CS-20-22 and 23) drilled to intersect the vein zone from a different angle. The latest hole was drilled parallel to and collared 45 metres from the historic hole. Canada Silver Cobalt’s program aimed to delineate the extent of the high-grade mineralization within the Robinson zone that shows very high grades in the form of native silver.
The mineral resource estimate used the four wedge holes and the four holes drilled from surface (CS-19-08W1 to W4; CS-19-20, CS-19-21; CS-20-22 and CS-20-23) and one historical drill hole (CA1108).
This resource estimate was independently prepared by GoldMinds Geoservices Inc. in accordance with NI 43-101 standards and is dated May 28, 2020.
Notably, zones 1A and 1B have an average silver grade of 8,582 g/t (250.2 oz/ton) in a combined 27,400 tonnes of material for a total of 7,560,200 inferred ounces using a cut-off grade of 258 g/t silver equivalent.
https://ceo.ca/@newswire/canada-silver-cobalt-resumes-drilling-at-castle-east
20-22 was NOT in the reserve report and hit a new vein at 500 metres vertical depth. Of note it surpassed the resource estimate economic thresh hold with a hit of 243 Oz / t.
Phase 2 Drilling
The current program is designed to test the vertical extension of the mineralized zones to surface and to increase quantity and confidence of the mineral resources. Phase 2 will also include follow-up on a new high-grade vein discovery (CS-20-22) approximately 95 meters below the Robinson Zone in the lower half of the Nipissing diabase near the contact with the Archean volcanics. CS-20-22 is interpreted to have intersected a second potential major vein structure with an assay of 8,338.41 g/t Ag or 243 oz/ton over 0.35 meters (true width estimated at 50% to 70%). This native silver vein, discovered at a vertical depth of approximately 500 meters, does not form part of the maiden Inferred resource for Castle East released May 28, 2020.
Next NR results in another hit in the 20-24 hole. So we know three veins were hit. We don’t know the grades or how many of the three were silver which is all I care about. But again the resource will grow.
CS-20-24, the just-completed first hole of Phase 2, was collared 200 meters northwest of CS-20-22 and intersected three separate visually well-mineralized vein structures at shallower levels including native silver and cobalt arsenides within a 5-meter zone (core interval) approximately 47 meters above the Robinson Zone;
CS-20-24 is interpreted to be an extension of the original vein confirmed through historical drill hole CA-11-08 in addition to Canada Silver Cobalt's recent follow-up wedge holes;
A network of high-grade native silver veins has now been traced over a vertical distance of approximately 144 meters from the middle intersection in CS-20-24, at a vertical depth of 371 meters, to the second deeper intercept in CS-20-22 (representing a new vein) near the lower contact of the diabase with the Archean rocks.
Next Drill Holes
Geologists are now preparing to drill a series of wedge holes, commencing early next week, from CS-20-22 and CS-20-24 in an attempt to follow the trail of native silver veins, similar to the strategy last December that also involved the successful use of downhole camera technology. GoldMinds Geoservices' custom-built downhole camera has been deployed once again and has provided valuable information with regard to CS-20-22 and the orientation of vein structures. It will also be used in the coming days to evaluate the vein structures intersected in CS-20-24.
Next NR
Two wedge holes started drilling into the deeper and interpreted second vein network off of the 20-22 hole
Starting today, an initial two wedge holes, drilled up-dip from different directions based on the orientation of the vein, are targeting the extension of the high-grade vein discovered 95 meters below the Robinson Zone in drill hole CS-20-22 that was not included in the resource estimate (8,339 g/t Ag or 243 oz/ton over 0.35m within 0.60m of 4,971g/t Ag or 145 oz/ton, estimated at 50% to 70% true width). This vein, featuring native dendritic silver (large "rosettes"), has a different texture to it than the vein in the original discovery, suggesting the Castle East mineralizing event was driven by multiple phases.
Matt Halliday, VP Exploration, commented: "It appears we have found the first two 'trunks' of this system. Based on district geology we expect to find branches off these trunks and a possible connection between these trunks through a network of veins.
End of June NR
They suddenly add a second rig and announce a new and massive 50k metre drilling program but curiously enough no comment on the results from 20-22
As a second drill rig is quickly added to this discovery as part of a new planned program encompassing 50,000 meters of drilling in 2020, Halliday will direct and supervise all project operations for Canada Silver Cobalt in his new role as President and COO. He will also immediately further build out the geological, engineering and environmental team with the goal of completing permitting and construction of a ramp to the rich Robinson Zone in 2021.
Based on reliable historical reports and internal data, management believes Castle East may represent the most significant new grassroots high-grade silver discovery in the Gowganda mining camp, and the broader Northern Ontario Silver-Cobalt district, in at least 40 years.
And then silence for the past six weeks as they raise money for the major drilling step up which is underway now All wedge holes on 20-22 and 20-24 are done 20-22 is the deeper zone 20-24 is the shallower step out hit into the Robinson Zone None of this was included in the resource report
The two rigs have been drilling on two new holes of the 15 set for the past two weeks