COQUITLAM, BC, July 11, 2017 /CNW/ - Castle Silver Resources
Inc. (TSX.V: CSR, OTC: TAKRF, FRANKFURT: 4T9B) (the "Company" or "CSR") is
pleased to announce that an aggressive 2017 diamond drilling
program has commenced at the Castle Property near Gowganda, Ontario, mined historically only for
its very high-grade silver. Investors can look forward to regular
updates throughout the summer.
Highlights:
- Phase 1 drilling this month will consist of 1,500 meters and is
being carried out from surface within 200 meters of the
portal;
- Initial Phase 1 drilling will focus on potential extensions to
significant vein structures identified on the first level of the
mine including one structure that returned average chip sample
grades of 1.06% cobalt, 5.3% nickel and 17.5
g/t silver (see June 12, 2017, news
release);
- A Cavity Monitoring Survey (CMS) of the first level workings
totaling approximately 1,700 meters has provided valuable new
information in 3D to aid in drilling from surface immediately
around the Castle mine.
Frank J. Basa, CSR President and
CEO, stated: "We're executing at Castle on multiple fronts in
order to fully leverage the exploration and development
opportunities for this exciting asset with cobalt prices at 9-year
highs.
"The start of multi-phase drilling, 100% ownership of two
important past producing mines combined with the unique
opportunities we have in the battery sector through our proprietary
Re-20X process, positions CSR as a leader in the prolific northern
Ontario Cobalt-Silver Camp," Basa concluded.
The drill program at Castle is under the supervision of
GoldMinds Geoservices' geological team led by Claude Duplessis, P.Eng., in collaboration with
Doug Robinson, P.Eng., geologist for
CSR. The drilling contract was awarded to Laframbroise
Drilling based in Earlton,
Ontario.
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.