Canada Silver Cobalt Works releases new drill outcomes from Citadel venture in Ontario

“These intercepts are unbelievable, and we’re persevering with to increase on all our main mineralized zones,” Matt Halliday, the corporate’s CEO mentioned in a press launch. “We will’t wait to ship extra information on Massive Silver, the 17m zone and zone 50 as we’re getting ends in and compiled.”  

The venture is positioned 15 km east of Aris Gold’s (TSX: ARIS; US-OTC: ALLXF) Juby Gold deposit, 30 km south of Alamos Gold’s (TSX: AGI; NYSE: AGI) Younger-Davidson mine and 75 km southwest of Kirkland Lake Gold’s (TSX: KL; NYSE: KL; ASX: KLA) Macassa Advanced. 

The 78 sq. km Citadel venture space contains the past-producing Citadel mine, which operated at varied occasions between 1917 and 1989, and produced a complete of about 8.41 million oz. of silver and 376,053 lb. cobalt, the corporate says. Infrastructure on the website contains underground entry on the Citadel mine and a pilot plant to provide cobalt-rich gravity concentrates. 

The corporate says the venture provides “ robust exploration upside for silver, cobalt, nickel, gold, and copper.”  

An up to date useful resource for the venture shall be launched later this yr, the corporate says, and can embody  “a number of of the brand new high-grade silver veins” found because the final useful resource estimate printed in Could 2020.  

In response to the 2020 useful resource assertion, the venture has inferred sources of 32,900 tonnes grading 7,149 grams silver per tonne, 2,537 grams cobalt per tonne, 628 grams copper per tonne, 467 grams nickel per tonne, 41 grams lead per tonne, 52 grams zinc per tonne for 7.56 million oz. of silver. The useful resource estimate, which coated zones 1A, 1B and 2A, used a cut-off grade of 258 grams silver-equivalent per tonne.  

Highlights from drilling at Citadel East launched in August final yr included 1.40 metres grading 10,239.60 grams silver per tonne (143.39 grams of gold-equivalent per tonne) ranging from 449 metres in drill gap CS-21-61 and 0.38 metres grading 7,328.47 silver per tonne (102.62 gram gold-equivalent per tonne) ranging from 254.03 metres in drill gap CS-21-65. 

At presstime, Canada Silver was buying and selling at C17.5¢ per share inside a 52-week buying and selling vary of C15.5¢ and C77¢.  The corporate has about 163 million frequent shares excellent for a market cap of about C$27.7 million. 

(This text first appeared in The Northern Miner)


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