(TheNewswire)
September 10, 2024 – TheNewswire – Coquitlam, BC, Nord Precious Metals Mining Inc., (TSXV: NTH) (OTCQB: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Nord” or “Nord Precious Metals”), is excited to announce that the raw data from a historical 14-hole drill program on the eastern edge of the Miller Creek tailings pond covering 10 percent of the surface deposit assayed up to 411 grams per tonne (gpt) silver equivalent. These tailings are from past production of the high-grade Castle Mine near Gowganda, Ontario, which began operations in 1919 and was shut down in 1989 by Agnico-Eagle Mines. The Castle Mine is located within 2 km of the recent high-grade Castle East discovery returning silver assays of up to 89,853 grams per tonne silver in the drill core.
Highlights - Miller Creek Raw Assay Sonic Drill Data:
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Silver equivalent assays range from 411 to 248 grams per tonne (silver price at 1.23 dollars per gram Canadian as of September 9, 2024, and magnesium price at 2.55 dollars per pound Canadian as of August 2022)
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Magnesium assayed 41,000 to 54,000 grams per tonne and was used in the silver equivalent calculation. Magnesium is listed as a critical mineral by the Canadian and U.S. Governments. The tailings also contain cobalt, copper and nickel among other critical minerals which were not used in the silver-equivalent assay calculation.
Potential Recovery Permit Strategy
The Company envisions a two-stage gravity concentration process. Metallurgical testwork has been undertaken on the sonic drill core mineralized material using a spiral and a gravity table. The historical metallurgical data is being reviewed and two more news releases are to follow detailing the metallurgical gravity studies followed by an evaluation of the potential of reprocessing the tailings for storage underground to stabilize the Crown Pillar which would then permit the Company to recover the broken mineralized material in the stopes and begin further development of the Castle Mine.
Qualified person
The technical information in this news release was approved and prepared under the supervision of Mr. Matthew Halliday, P.Geo., (PGO), President and COO of Nord Precious Metals, a qualified person accordance with National Instrument 43-101.
About Nord Precious Metals Mining Inc.
Nord Precious Metals Mining Inc. (formerly Canada Silver Cobalt Works Inc.) recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000 m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.
In May 2020, based on a small initial drill program, the Company published the region’s first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves and do not have demonstrated economic viability. Please refer to the Nord Precious Metals (previously Canada Silver Cobalt Works) Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.
The Company also has: (1) 14 battery metals properties in Northern Quebec where it has completed a 16,000-metre drill program on the Graal property, which was spun out into Coniagas Battery Metals Inc. in March 2024. Nord owns 35% of the outstanding shares of Coniagas.); and (2) St. Denis-Sangster lithium project – 260 square kilometers of greenfield exploration ground with numerous pegmatites focussed along a significant volcanic sedimentary rock – Archean granite contact near Cochrane, Ontario contiguous to Power Metals’ Case Lake Lithium properties;
Nord Precious Metal’s flagship silver-cobalt Castle mine and 78 sq. km Castle property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Nord Precious Metals is strategically positioned to become a Canadian leader in the silver-cobalt space. More information is available at www.nordpreciousmetals.com.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.com
Caution Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.
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