TSX-V-listed Canada Silver Cobalt on Friday announced the discovery of high-grade silver at its flagship Castle property, near the town of Cobalt, in Ontario.
Canada Silver said it received assays from hole CS-20-39 at 9 853 g/t silver, or 2 621 oz a ton, over 0.3 m from 557.46 m to 55.76 m.
This is the highest-grade silver to date at the Robinson zone and the company said it confirmed the significant potential of discovering additional high-grade silver at zone.
"Bullion bar silver grade of 90% pure silver in the metallics was recovered from the drill core within 60 m from the main vein on the Robinson zone. This new vein system is being followed up with directional drilling (wedging) to define extent of the mineralised structure,” commented Canada Silver Cobalt president Matt Halliday.
The Castle property is about 15 km east of Caldas Gold’s Juby deposit, 30 km south of Alamos Gold’s Young-Davidson mine and 75 km southwest of Kirkland Lake’s Macassa complex.
Canada Silver traded at C$0.59 a share on Friday, up 19.9% on the previous day’s close.