Nord Precious Metals Mining Inc (CCWOF)

[ThSeeker]

High-Grade Visible Gold at 25 Grams Per Tonne Intersected at the Robinson Zone

COQUITLAM, BC, Dec. 17, 2020 /CNW/ - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce that Canada Silver Cobalt Works intersected high-grade gold mineralisation with cobalt within the high-grade silver-cobalt mineralized vein structures at the Castle property. Drilling continues around the clock, seven days a week with 2 drills. A 50,000-meter drill program is in place of which 18,000 meters have been completed.

Gold Highlights:

CS-20-31 intersected 24.95 g/t Au over 0.30 meters from 49.70 – 50.00m with visible gold in calcite veining within Archean volcanic tuff.
CS-20-31, drilled towards the North, intersected 3.82 g/t Au over 2.86 meters from 451.00 - 453.86m, including 6.11 g/t Au over 1.66 meters from 451.52 - 453.18m.
CS-20-25, collared 300 meters northwest of CS-20-31, intersected three separate vein structures at shallower levels. This hole intersected 5.00 g/t Au over 1 meter, from 315.00 – 316.00m; 0.78 g/t Au over 0.8 meters, from 145.50 - 146.30m; and 0.6 g/t Au over 1 meter, from 240.00 – 241.00m.

The gold-cobalt mineralisation found in hole CS-20-31 is the fourth potential expansion to the Robinson system, giving at least 5 mineralized veins in the area. The vein in hole CS-20-31 appears to be a different orientation to the other en echelon veins identified and is the first vein in the Robinson system with significant gold results. A percentage of holes in this program has been allocated to identifying and following up on structures in this orientation. With this new discovery, the information previously gathered to the west is being revisited and reinterpreted to identify a potential connection between the Archean gold system previously identified and these veins found in the diabase.

Matt Halliday, P.Geo., Canada Silver Cobalt's President, commented: "Hole CS-20-25 is confirming the working hypothesis regarding the potential correlation between the gold mineralization in the Robinson Zone and that previously identified in the gold zone immediately west of the Robinson where substantial Archean alteration typically associated with gold mineralisation has been recorded. Significantly, in hole CS-20-31, a gold structure within the Robinson Zone, that is associated with the silver-cobalt veins of the diabase, has been identified. Given the reports from this historic Camp of silver bars containing recoverable amounts of gold, this newly identified gold mineralization is extremely exciting. Additionally, CS-20-31 has visible gold near surface. This, and identifying further gold mineralization near surface, will dramatically impact the economics of the Robinson Zone vein system."

Gold Target Above the Diabase

Starting 40 meters downhole and continuing to 368 meters, CS-20-24 intersected multiple, potential gold-bearing quartz-carbonate, multi-generational veins with sulphide mineralisation and intense alteration in the Archean package above the Nipissing diabase. Arsenopyrite was also noted in feldspar porphyry.

As reported by Canada Silver Cobalt on March 2, 2020, the last drill hole that targeted gold mineralisation at Castle East (CS-19-19) intersected 4.3 grams per tonne gold over four metres and 1.5 g/t Au over 12.5 metres within a 30-metre mineralised zone (core length, true width unknown at this time) grading 0.70 g/t (vertical depth approximately 240 metres). This broad interval included one metre that returned 15.2 g/t Au. This early-stage gold discovery is approximately 460 meters southwest of the visually encouraging zones encountered in CS-20-24, and the potential relationship between the two areas is being investigated as geologists await assays for this latest hole.

Now, with gold found in CS-20-31 near surface and within the diabase, the potential corridor of Archean gold has been increased by over 200m at surface. If the gold in the cobalt-silver veins comes from reactivated Archean structures, this could also indicate gold at depth below the diabase.

Location

The 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, 75 km southwest of Kirkland Lake Gold's Macassa Complex, and 100 km southeast of new gold discoveries in the Timmins West area.

http://www.newswire.ca/en/releases/archive/December2020/17/c4688.html