COQUITLAM, BC, Dec. 1, 2017 /CNW/ - Castle Silver Resources
Inc. (TSX.V: CSR, OTC: TAKRF, FRANKFURT: 4T9B) (the "Company" or "CSR") is
pleased to announce that ongoing underground sampling has returned
high-grade cobalt from additional areas on the first level of the
Castle mine near Gowganda,
Ontario.
Highlights are as follows (see table below for complete
results):
- 3.1% cobalt in sample CSR-UG-T-2 (mini-bulk)
- 1.04% cobalt in sample CSR-UG-T-3 (mini-bulk)
- 2.3% cobalt in sample CSR-17-10 (composite from the two
mini-bulk samples)
More samples have been submitted for
assaying.
Areas prospective for cobalt mineralization were recently
highlighted through XRF analysis of the extensive first level
workings at Castle. Current sampling is designed to gain a
better understanding of the grade intensity and distribution in
order to prioritize underground drill targets.
Frank Basa, CSR President and
CEO, stated: "The cobalt grades we're encountering underground are
extremely encouraging and supports our original thesis that past
operators may have left much behind at Castle in their strict focus
on mining high-grade silver.
"At a time when Cobalt prices are at new decade highs, CSR's
access to extensive underground workings at the Castle mine puts
the company in a unique position in the northern Ontario cobalt region," Basa
concluded.
SAMPLE
ID
|
Sample
type
|
Co
|
Ag
|
Au
|
Ni
|
|
|
%
|
ppm
|
g/Mt
|
%
|
CSR UG T 2
|
bulk
sample
|
3.124
|
21.0
|
0.11
|
0.128
|
CSR UG T 3
|
bulk
sample
|
1.036
|
12.7
|
0.04
|
0.117
|
CSR 17 10
|
composite
|
2.323
|
68.7
|
0.24
|
0.355
|
Quality Assurance/Quality Control
Bulk samples were obtained by removing muck rock from the floor
of the drift and chipping out vein material over 2 lengths of 10
metres, each filling a 5 gallon pail with approximately 20 kg of
material. A single composite sample was taken by randomly selecting
approximately 2 kilograms from each of the bulk samples. Samples
were transported by truck to Swastika Laboratories, an accredited
lab, in Swastika, Ontario for
assay with analysis by aqua regia digestion and atomic absorption
finish. The remainder of that material will be submitted to SGS
Laboratories in Lakefield, Ontario
to use the Re-20X process to develop samples for evaluation
for the Asian battery market.
Qualified Person
The technical information in this news release was prepared
under the supervision of Frank J.
Basa, PEng, Castle's president and chief executive officer,
who is a member of the Professional Engineers Ontario and a
qualified person in accordance with National Instrument 43-101.
About Castle Silver Resources
The Castle Silver mine, Beaver mine and Violet mine are three of
the most advanced properties in the Cobalt Camp. While they
comprise only 2,400 hectares they are sources of high-grade cobalt
that can quickly be developed into a shovel-ready state. The
company also has the Re-2OX process which has been
pilot-plant-tested to separate the various metals that comprise the
mineralization in the Cobalt Camp vein systems. The company has
been to Japan and China to meet with buyers of cobalt-based
salts that are used in the lithium battery market. Studies are
underway to develop a milling processing facility and leach plant
on one of the Castle Silver Resources' properties.
"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.