New GIL comments
My favorite junior silver mining stock at this time remains Canada Silver Cobalt Works (CCW/CCWOF), trading for .48 CDN/.36 USD. A big part of why this is, are the unbelievable GRADES that CCW is hitting in their new Castle East discovery area. We just recently saw them publish a maiden 43-101 resource that averaged 250 OUNCES per tonne silver!!!
I expect this resource to potentially expand 10 fold in terms of ounces rapidly, and current drilling should produce more stellar intercepts. Below are some highlights of this rapidly evolving high grade silver discovery story. I am adding shares under .55 CDN or up to .42 in CCWOF.
Does anyone out there know of a higher grade new silver discovery on the planet? If so, please do email me! If there is one, I am unaware of it.
June 8, 2020 CCW Update - Key Highlights
Drill Program in Progress
-Castle East Phase 2 drilling aims to build out the Robinson Zone high-grade SILVER discovery in the prolific past producing Gowganda Camp of Northern Ontario. Watch for exciting new developments and strong news flow throughout June and the balance of 2020.
-CCW’s Robinson Zone at Castle East has an Inferred maiden resource of 7.56 million ounces of SILVER @ a spectacular average grade of 8,582 g/t Ag or 250 oz/ton, in 2 zones of the Robinson Zone, making this one of the highest-grade early stage SILVER deposits anywhere in the world.
Large Scale Potential
-Castle East is a vastly under-explored part of the Gowganda Camp where very limited surface outcrop deterred historical work. The relatively untested volume of diabase is estimated to range between 970 million and 1.45 billion cubic meters, far exceeding the estimated total diabase volume of the Castle mine (10 million historical ounces produced).
-Castle East is in well-established Northern Ontario mining camp with no First Nations or environmental roadblocks. Three significant past SILVER producers (~70 million ounces) are located within 2 km to the west. Strong GOLD potential in parts of Castle East and elsewhere on property.
Multiple 2020 Catalysts
• Castle East and Castle North discovery potential - SILVER, Cobalt, GOLD and base metals
• Underground drilling and development at Castle mine
• Vertically integrated with acquisition of TTL facility (formerly PolyMet ) in the town of Cobalt
• Re-2OX (proprietary and environmentally friendly process for metal recovery)
• High-grade SILVER extraction targeted at Castle and Beaver tailings
Chart Strength
• One of few Venture stocks to post annual share price gains for 3 consecutive years
• Imminent “Golden Cross” as rising 50-day SMA pushes above rising 200-day SMA
