Castle Silver Resources Inc. (TSXV: CSR) is focused on resuming production at its 100%-owned past-producing cobalt-silver mines in the Canadian Cobalt Camp.
The flagship property is the 28 sq. km Castle Silver mine, which produced 300,000 lbs of cobalt and 9.5 million ounces of silver in the 1900s. It was last operated by Agnico Eagle, which shut the mine in 1989 because the price of silver was low (US$6.75/oz).
A major advantage is the company's easy access to the Level 1 underground workings at the Castle Mine via an adit. Castle has been able to obtain underground bulk samples and is planning underground drilling in 2018 to test for cobalt grades. The adit also gives the company the ability to start mining sooner (no other company in the Camp currently has underground access).
The company is currently conducting lab tests with its proprietary Re-2OX hydrometallurgical process aimed at producing cobalt sulphate that would meet the specifications provided by potential Asian customers. Lab testing has also shown the Re-2OX process has the potential to be used to extract cobalt, lithium and other metals from used computer and phone batteries.
Underground bulk samples from Level 1 tested 1.48% cobalt, 5.7 g/t gold and 46.3 g/t silver, and produced a 14.8% cobalt concentrate. Additional samples tested up to 3.1% cobalt. Past focus on silver and on a small area of the property leaves substantial discovery potential. Recent surface drilling near the adit intersected mineralization in every hole and an IP geophysical survey in 2017 identified numerous high-potential drill targets.
Recent selected material testing at the company's past-producing Beaver Mine averaged 4.68% cobalt, 46.9 g/t silver, 3.09% nickel, and 0.08 g/t gold.
Additional information on the Company’s properties is available on the Company's website at www.castlesilverresources.com.
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