IMPRESSIVE SUMMARY by NIA:
On Friday afternoon at 3:35PMEDT, NIA announced Canada Silver Cobalt Works (TSXV: CCW) at $0.55 per share as its first brand new silver stock suggestion in several years and gave it NIA's highest confidence rating of 100. CCW rallied into the close and finished last week at $0.59 per share. The TSXV is closed on Monday for Civic Holiday, but the U.S. OTCQB will be open where CCW trades under the symbol CCWOF.
Most investors who have previously heard of CCW, recognize the company as a cobalt play. CCW remains undiscovered as a silver play, having just changed its name from Canada Cobalt Works to Canada Silver Cobalt Works on May 19, 2020. CCW on July 13, 2020 filed a NI 43-101 resource estimate and has established the highest grade silver resource out of all publicly traded companies!
CCW reported an inferred resource for Zones 1A and 1B of the Castle East Robinson Zone totaling 27,400 tonnes with an average grade of 8,582 g/t silver containing 7,560,200 oz of silver.
Castle East is part of CCW's 100%-owned, 78 sq. km Castle Property also featuring the past producing Castle mine. CCW's Castle Property is 15 km east of Pan American Silver’s Juby gold deposit, 30 km due south of Alamos Gold’s Young-Davidson mine, and 75 km southwest of Kirkland Lake Gold’s Macassa Complex.
In 2011, the previous operator of the project drilled the hole CA-11-08 at Castle East and intercepted 6,476 g/t silver over 3.02m including 40,944 g/t silver over 0.45m.
CCW followed up on this discovery in their 2019/2020 drill program. CCW used a custom-built inspection camera to successfully reach the 2011 drill hole intersection of spectacular native silver at a vertical depth of 420m where it was able to view, identify, and film the vein of extremely high grade silver, allowing it to accurately plot a series of wedge holes designed to pierce the vein structure at four different points to immediately begin defining a high-grade silver resource!
CCW in late-2019 drilled four successful wedge holes from CA-11-08 totaling 726.27m. Wedge hole CS-19-08W1 intercepted 20,741 g/t silver over 1.5m including 50,583 g/t silver over 0.6m approximately 10m above and west of the original mineralized zone discovered by CA-11-08. Wedge hole CS-19-08W2 intercepted 7,259 g/t silver over 4m including 70,380 g/t silver over 0.3m approximately 8m west of the mineralized zone discovered by CS-19-08W1.
CCW's recent drill hole from surface CS-20-22 intercepted 4,971.39 g/t silver over 0.60m including 8,338.41 g/t silver over 0.35m approximately 95m below the Robinson Zone. CCW believes that they have discovered a second major vein structure. This discovery is not a part of CCW's resource estimate.
CCW's recent drill hole from surface CS-20-24 intersected three separate visually well-mineralized vein structures at shallower levels including native silver within a 5m zone approximately 47m above the Robinson Zone. A network of high-grade native silver veins has now been traced over a vertical distance of 144m and remains open in all directions!
Castle East is within a 2km radius of three major past-producing silver mines: the Castle, Capitol and O'Brien mines. These three mines had total historical silver production of 60 million oz! They comprise a large silver-rich system of abundant vein networks that follow the dip of the diabase toward Castle East in the heart of the Miller Lake Basin.
CCW's Castle Mine has historical production of 9.5 million oz of silver at an average grade of 850 g/t silver! Most recently, Agnico-Eagle Mines Ltd (AEM) produced 3 million oz of silver from the Castle Mine prior to abandoning operations in 1989 following a collapse in silver prices.
Matt Halliday just took over on June 30, 2020 as CCW's President and COO. He joined CCW last year from Kirkland Lake Gold (KL) where he was resource geologist. Over the next 12 months, he will be conducting a 50,000m drilling campaign at the Castle Property.
It is easy to figure out what you believe. The difficulty lies in determining - is what you believe the truth.
