Visible cobalt from a vein on Castle Silver Resources Beaver project.
As underground mini-bulk sampling brings high-grade results, Castle Silver Resources TSXV:CSRhas increased its surface drill program at a former mine near Ontario’s Cobalt camp. An 82-kilogram sample of vein material taken near a first-level adit graded 1.48% cobalt, 5.7 g/t gold and 46.3 g/t silver. Nickel values are pending. Meanwhile the Phase I surface drill program that began earlier this month with a 1,500-metre goal has been increased to 2,000 metres in approximately 20 holes.
The gold grades have the company re-checking a previous batch of chip samples that weren’t assayed for the yellow metal. The company’s also extracting another sample from the same area to verify the results.
Castle Silver noted that the samples are “selective and should not be considered representative of mineralization underground or elsewhere on the property.”
Eighty kilometres southeast, Castle Silverhas been collecting surface samples on its 100%-optioned Beaver project, another former silver mine with cobalt potential. Samples taken in 2013 from waste rock left by historic extraction graded 7.98% cobalt, 3.98% nickel and 1,246 g/t silver.
On closing a $882,500 financing last week, the company’s private placement total has hit nearly $2.6 million since March.