What’s next for Gold after last week’s reversal from $1,830 to $1,760?…
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The only chance to unseat Trudeau in the next election is O’Toole, the only viable option. If O’Toole moves too far to the right then he has zero chance of winning the next election. He is smart enough to realize that. Any new party that eats into Conservative support in the West only helps Trudeau.
Comment by Danny — August 8, 2021 @ 9:54 am
Vein system continues to build at Castle East – CCW like others needs to get a turnaround in Silver, but Castle East has gone from 1 original vein discovery to 8 distinct high-grade veins with more undoubtedly on the way…
CANADA SILVER COBALT INTERSECTS 30,416 G/T SILVER OVER 0.42M WITH 425 G/T GOLD EQUIVALENT IN NEW VEIN AT CASTLE EAST
Canada Silver Cobalt Works Inc. has drilled a continued expansion at Castle East with three new, high-grade intersections with silver grades of 30,416.91 grams per tonne over 0.42 metre, 7,328.47 g/t over 0.38 m and 1,883.21 g/t over 0.42 m, and with gold equivalent (AuEq) grades of 425.94 g/t, 102.62 g/t and 26.37 g/t AuEq respectively.
Drilling Highlights:
– Hole CS-21-61 with an exceptional intercept grading 30,416.91 g/tonne silver (887.31 oz/ton Ag) over 0.42m at a downhole depth of 449.55-449.97m with a gold equivalent grade of 425.94 g/tonne Au (12.42 oz/ton Au ). This incredibly mineralized vein is located 35m south from the Robinson Zone discovery hole CA-11-08, and 60m west of Big Silver discovery hole CS-20-39. The Company currently believes this intercept belongs to a brand-new vein structure, independent from both the Robinson Zone and the Big Silver vein.
– The first intercept in hole CS-21-65 contains 7,328.47 g/tonne silver (213.77 oz/ton Ag) over 0.38m at a downhole depth of 254.03-254.41m with a gold equivalent grade of 102.62 g/tonne Au (2.99 oz/ton Au). This intercept is located 230m below the surface, 70m to the south and 220m above the Robinson Zone. To date, this is the closest high-grade intercept to surface and is located within Archean lithologies.
– The second intercept in hole CS-21-65 contains 1,883.21 g/tonne silver (54.93 oz/ton Ag) over 0.42m at a downhole depth of 421-421.42m with a gold equivalent grade of 26.37 g/tonne Au (0.77 oz/ton Au).
“These three intercepts provide us with two newly discovered, high-grade vein systems. We continue to have excellent results from the 60,000m drill program at Castle East, with 40,000m completed to date. There is now a total of eight distinct high-grade veins to be included in the Q1 2022 resource update. The initial estimate in May 2020 for Castle East (see below) was based solely on the Robinson Zone vein system but recent drilling has discovered an even higher-grade vein (Big Silver grading 89,853 g/t Ag over 0.30m) in addition to six other new vein structures, and our exploration program has expanded the overall area to be included in the resource estimate.” said Matt Halliday, P.Geo., President, and COO.
The geological implications of these veins are threefold: First, the addition of another exceptionally high-grade vein in CS-21-61 puts us that much closer to significant expansion of the resource at Castle East. Second, the high-grade silver vein in CS-21-65 (that is 230m below the surface) confirms the existence of much shallower silver mineralization at Castle East. Third, it greatly expands the potential for silver mineralization to occur across the entire property because it occurs within the Archean lithologies. Most of our high-grade or notable veins are located within the younger Nipissing Diabase sill which is intruding into the older Archean rocks. This means that it is possible for further silver mineralization to occur in the same Archean lithologies both above and below the Nipissing Diabase, similarly to the vein found in CS-21-65 that is located above the intrusion. As a further proof of concept, both the Beaver Mine and Temiskaming Mine had significant production both above and below the Nipissing diabase intrusion. This ultimately expands the potential horizon within the property and is very encouraging for future exploration.
Ongoing drilling in the Castle East area is geared toward identifying new veins to enable significant expansion to the existing resource panels outlined in the Company’s maiden Resource Estimate reported in a news release May 28, 2020. The resource estimate identified zones 1A and 1B of the Robinson Zone with an average silver grade of 8,582 g/t ( 250 oz/ton ) in a combined 27,400 tonnes of material for a total of 7.56 million Inferred ounces of silver using a cut-off grade of 258 g/t AgEq (mineral resources that are not mineral reserves do not have demonstrated economic viability). Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada , with an effective date of May 28, 2020 and a signature date of July 13, 2020.
Location
The Castle Property is 15 km east of Aris Gold Corp’s Juby gold deposit, 30 km due south of Alamos Gold’s Young-Davidson mine, 75 km southwest of Kirkland Lake Gold’s Macassa Complex, and 100 km southeast of new gold discoveries in the Timmins West area.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Matthew Halliday, P.Geo., (APGO) VP Exploration of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. This discovery has the highest silver resource grade in the world, with recent drill intercepts of up to 89,853 grams/tonne silver (2,621 oz/ton Ag). A drill program is underway to expand the size of the deposit with an update to the resource estimate scheduled for Q1 2022.
In May 2020, based on a small initial drill program, the Company published the region’s first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.
Canada Silver Cobalt’s flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space.
We seek Safe Harbor.
Comment by Jon - BMR — August 9, 2021 @ 8:00 am
Adventus and Salazar Announce Identification of a New VMS System at Agua Santa, 4.5 Km Southwest of El Domo Deposit and Within the Curipamba Project
TORONTO, Aug. 9, 2021 /CNW/ – Adventus Mining Corporation (“Adventus”) (TSXV: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited (“Salazar”) (TSXV: SRL) (OTCQB: SRLZF) (collectively the “Partners”) are pleased to announce the identification of a new volcanogenic massive sulphide (“VMS”) system approximately 4.5 km southwest of the El Domo VMS deposit (“El Domo”) located within the 21,537-hectare Curipamba project in central Ecuador.
Highlights – Drill Results from the Agua Santa Target at Curipamba:
– CREG-008 was the first drill hole at the Agua Santa target and intersected 6.34 metres of 1.77% copper, 1.46 g/t gold, 7.45% zinc, 23.2 g/t silver, and 0.24% lead – including 1.40 metres of 1.58% copper, 2.67 g/t gold, 31.20% zinc, 55.0 g/t silver, and 1.01% lead
– One drill rig is actively working at Agua Santa following up the massive sulphide mineralization identified in drill hole CREG-008
Regional drilling on the Agua Santa target (Figure 1) started mid-June 2021 and six drill holes have been successfully completed totaling 1,588 metres with one drill hole in progress. VMS mineralization was identified in the first drill hole of the work program designed to test the edge of a Mobile MT (“MMT”) airborne geophysical anomaly (Figure 1) that coincided with both favourable geology and surface geochemistry results from prospecting in nearby creek beds. The drill site location was limited due to limited access to surface rights, but the Partners have recently purchased additional surface rights providing wider access and coverage of the MMT geophysical anomaly for additional drilling.
Drill hole CREG-008 intersected a different volcanic stratigraphy than El Domo, dominated by mafic volcanic rocks with massive sulphide intersected in three separate intervals from 60.52 to 66.86 metres with variably mineralized volcaniclastic rocks in between the massive sulphide, noting the highly fragmental appearance of the mineralization.
This is an early-stage exploration project, meaning geological modeling has not determined the orientation of stratigraphy to accurately determine an approximate true thickness for lithologies and mineralization.
In the footwall of the massive sulphide mineralization in CREG-008, several broad zones of pyritic stringer stockwork in massive mafic volcanic rocks were observed with focused hydrothermal alteration halos directly around the mineralization. The strongest occurrence of pyritic stringer stockwork in CREG-008 occurs from 158.00 to 164.60 metres of semi-massive to massive sulphide. No significant results were obtained from the pyritic stringer stockwork. Analytical results from the additional drill holes at Agua Santa will be released once data has been received from the laboratory and the results have passed the Partners’ quality assurance and quality control (“QAQC”) protocols.
As a result of the identification of this new VMS system, the Partners have increased the regional drilling budget from 4,000 metres to 6,000 metres in 2021, principally to further assess the Agua Santa area. Other high priority targets defined during the 2020 target generation initiative process remain untested (see January 21, 2020 news release). Of key importance is that most of these targets are new and have not seen significant exploration or drilling historically.
Technical Information and QA/QC
The Curipamba project work program is being managed and reviewed by Vice President Exploration, Jason Dunning, M.Sc., P.Geo., a Qualified Person within the meaning of NI 43-101. Salazar staff collect and process samples that are securely sealed and shipped to Bureau Veritas (“BV”) in Quito for sample preparation that includes crushing and milling to prepare pulps that are then split for shipment to their facility in Vancouver, Canada for analysis. All assay data have undergone internal validation of QAQC; noting there is an established sampling control program with blind insertion of assay blanks, certified industry standards and sample duplicates for the Curipamba project. A QAQC program is also in place at BV and includes insertion of blanks, standards, and duplicate reanalysis of selected samples. BV’s quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025: 1999. At BV, samples from regional drilling have silver and base metals analyzed by a modified ore grade 24-element aqua regia technique with ICP-ES finish. Gold is analyzed by fire assay fusion with AAS finish. Overlimit protocols are in place for gold, silver, copper, lead, and zinc.
Qualified Person
The technical information of this news release has been reviewed and verified as accurate by Mr. Jason Dunning, M.Sc., P.Geo., Vice President Exploration for Adventus, a non-Independent Qualified Person, as defined by NI 43-101.
About Adventus
Adventus Mining Corporation is an Ecuador focused copper-gold exploration and development company. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, Wheaton Precious Metals Corp., and the Nobis Group of Ecuador. Adventus is advancing the El Domo copper-gold project through a feasibility study, while exploring the broader Curipamba district. In addition, Adventus is engaged in a country-wide exploration alliance with its partners in Ecuador, which has incorporated the Pijili and Santiago copper-gold porphyry projects to date. Adventus also controls an exploration project portfolio in Ireland with South32 Limited as funding partner as well as an investment portfolio of equities in several exploration companies. Adventus is based in Toronto, Canada, and is listed on the TSX Venture Exchange under the symbol ADZN and trades on the OTCQX under the symbol ADVZF.
About Salazar
Salazar Resources Limited is focused on creating value and positive change through discovery, exploration, and development in Ecuador. The team has an unrivalled understanding of the geology in-country and has played an integral role in the discovery of many of the major projects in Ecuador, including the two newest operating gold and copper mines. Salazar Resources has a wholly owned pipeline of copper-gold exploration projects across Ecuador with a strategy to make another commercial discovery and farm-out non-core assets. The Company actively engages with Ecuadorian communities and together with the Salazar family it co-founded The Salazar Foundation, an independent non-profit organization dedicated to sustainable progress through economic development. The Company already has carried interests in three projects. At its maiden discovery, Curipamba, Salazar Resources has a 25% stake fully carried through to production. At two copper-gold porphyry projects, Pijili and Santiago, the Company has a 20% stake fully carried through to a construction decision.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2021/09/c8459.html
Contact:
From Adventus, please contact Christian Kargl-Simard, President and Chief Executive Officer, at +1-416-230-3440 or [email protected]; For further information from Salazar, please contact [email protected]
Comment by Jon - BMR — August 9, 2021 @ 8:36 am