Canada Silver Cobalt Works Inc (TSX-V:CCW, OTCQB:CCWOF) said it has decided to re-assess the value of its fully owned Shillington copper property north of Castle East, near Gowganda in Ontario.
The company said the property has the potential to become a valuable copper exploration asset given the current market demand.
Canada Silver Cobalt noted that it acquired the 2,190-hectare Shillington copper property in 2020 to expand the land package and exploration potential north of Castle East given the geology and controlling structures nearby. It completed a ground-truthing and prospecting program in 2021 over a 2 square kilometre area and identified strong mineralization from grab and outcrop samples.
Historical drill core copper grades revealed up to 18.28% copper over 0.3 metres (m) and as wide as 0.5% copper over 12.5m.
The company said it will plan a future exploration program to define the extent of this potential high-grade copper mineralised area.
"Significant near-surface copper grades were defined in the limited historical exploration at the Shillington copper property,” Canada Silver Cobalt CEO Frank Basa said in a statement. “These copper grades can be accepted directly into the Re-2Ox process for final product production. The property is in proximity to our current exploration of the high-grade Castle Silver Mine with easy access by paved road and logging trails.”
Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. Its flagship Castle Mine and Castle property near Gowganda in northern Ontario features strong exploration upside for silver, cobalt, nickel, gold, and copper.
Contact the author at stephen.gunnion@proactiveinvestors.com