COQUITLAM, BC, June 6, 2017 /CNW/ - Castle Silver Resources Inc.
(TSX.V: CSR, OTC: TAKRF, FRANKFURT: 4T9B) (the "Company" or "CSR") is
pleased to announce that it has started underground extraction at
its 100%-owned Castle Silver-Cobalt mine near Gowganda, Ontario, as crews have removed a
large sample from a quartz-carbonate vein structure containing
visible cobalt on the first level of the mine.
Some of the mineralized material is being submitted for
immediate assaying while the remainder will be put through the
company's proprietary Re-2OX hydrometallurgical process to produce
high purity cobalt powders for battery sector end buyer evaluation.
A series of bulk samples will be completed over the next several
weeks in conjunction with the start of Phase 1 underground
drilling.
Meanwhile, CSR is also using the highly adaptable Re-2OX process
for testing recovery of cobalt and lithium from lithium-ion
batteries as the Company vigorously pursues exciting opportunities
in recycling technology.
A promising first stage of Re-2OX test work on a mixed sample of
consumer electronic lithium-ion batteries has been completed by SGS
Lakefield and CSR eagerly anticipates reporting results shortly.
Re-2OX achieves recovery through stripping the casing, leaching the
cathode of the batteries, and forming a high purity precipitate
containing the valuable metals.
Qualified Person
Claude Duplessis, P.Eng., of
Goldminds Geoservices Inc., a geological, environmental and mining
consultant, is an independent qualified person in accordance with
National Instrument 43-101, and has reviewed and approved the
contents of this news release.
About Castle Silver Resources Inc.
Castle Silver Resources Inc. (formerly Takara Resources Inc.) is
a TSX Venture-listed junior natural resource company focusing on
the exploration and development of past producing silver and cobalt
mines in northern Ontario
including the Castle Silver-Cobalt Project near Gowganda and the Beaver and Violet mines near
Cobalt. Additional information on
the Company's properties and strategies related to the battery
sector are available by visiting its website at
www.CastleSilverResources.com.
"Frank J. Basa"
Frank J. Basa, P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service
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 including but not limited to comments
regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore, involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.
SOURCE Castle Silver Resources Inc.