CSR Advances Castle Silver-Cobalt Project
CSR Advances Castle Silver-Cobalt Project
COQUITLAM, BC
,
Aug. 31, 2017
/CNW/ - Castle Silver Resources Inc. (TSX.V: CSR, OTC: TAKRF,
FRANKFURT
: 4T9B) (the "Company" or "CSR") is pleased to
provide the following update regarding its 100%-owned Castle mine, a prolific past silver producer with polymetallic potential near
Gowganda, Ontario
, where CSR
has important underground access.
Highlights:
A total of 22 drill holes for 2,405 meters have been completed from surface at Castle;
Assay results from Swastika Laboratories have returned an average of 3.7 g/t Au in five chip samples from the first level of the Castle mine in addition to the
high-grade cobalt, nickel and silver reported
June 12, 2017
;
IOS Services Géoscientifiques Inc. has completed a Niton Portable XRF analysis of vein structures throughout the first level of the Castle mine, allowing the
company to efficiently target locations for additional bulk sampling.
Frank Basa
, President and CEO, commented: "CSR continues to make progress on multiple fronts, and this quarter's achievements so far are highlighted by the
completion of a first phase of drilling and a clear path to the creation of cobalt sample products from Castle-sourced material through our proprietary Re-2OX
process.
"In addition," Basa concluded, "we're seeing the potential for a variety of mineralization types within the Castle mine, well beyond just the high-grade silver that
was recovered intermittently throughout the 1900's. CSR is well-funded to carry out its plans for a strong operational finish to 2017."
Drilling
Phase 1 drilling from surface at Castle, expanded beyond the originally planned 1,500 meters, was primarily designed to gain a greater understanding of
structures carrying potential cobalt mineralization in underground portions of the Castle mine and at shallow levels within approximately 200 meters of the main
adit. Assay results will be reported as soon as they are received, reviewed and interpreted.
IOS Services Géoscientifiques Underground Analysis
Using Niton portable XRF technology, IOS Services Géoscientifiques recently spent several days at the Castle Property to test vein structures on the first level of
the Castle mine. This work has supported the potential for high-grade cobalt mineralization which will optimize locations for additional bulk sampling and planned
underground drilling once portions of drift are rehabilitated as per OHS standards.
Second Lab Supports Gold Content
A second lab has provided significant gold assays from a large underground sample completed earlier this summer from the first level of the Castle mine.
On
July 19, 2017
, CSR reported that an 82-kilogram sample of vein material from the first level was crushed to minus 10 mesh, blended and assayed by SGS
Lakefield, and returned 5.7 g/t Au in addition to 46.3 g/t silver and 1.48% cobalt.
In light of the surprising gold results, Castle instructed Swastika Laboratories to assay potential gold content of five chip samples collected in the immediate
vicinity of the vein structure material assayed by SGS Lakefield. Cobalt, silver and nickel results for these five samples were reported
June 12
(average values
were 1.06% cobalt, 17.5 g/t Ag and 5.3% nickel). Gold assays have been received and the average grade is 3.7 g/t Au for the five chip samples with values
ranging from a low of 0.72 g/t Au to a high of 7.03 g/t Au.
Further studies and sampling are required to determine what the gold may be associated with and if CSR can define gold structures.
Qua
lity Assurance/Quality Control
Samples were crushed to 85% passing 2 mm, split to 250 grams and pulverized to 90% passing 200 mesh. Multi-acid digestion followed by AA for the metals.
Gold and silver pulp of 30 grams were assayed by fire assay with AA finish. The results are in line with expected values and internal laboratory results. Blank
and standard allow the disclosure of results.
Qualified Person
Claude Duplessis
, PEng, of Goldminds Geoservices Inc., a geological, environmental and mining consultant, is an independent qualified person in accordance
with National Instrument 43-101, and has reviewed and approved the contents of this news release.
About Castle Silver Resources Inc.
Castle Silver Resources Inc. (formerly Takara Resources Inc.) is a TSX Venture-listed junior natural resource company focusing on the exploration and
development of former silver and cobalt mine properties in northern
Ontario
including the Castle Silver mine near
Gowganda
and the Beaver and Violet mines near
Cobalt. Additional information on the Company's properties is available by visiting its website at
www.CastleSilverResources.com
.
"Frank J. Basa"
Frank J. Basa P. Eng
.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the
timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking
statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently
anticipated in such statements.
SOURCE
Castle Silver Resources Inc.
View original content: http://www.newswire.ca/en/releases/archive/August2017/31/c8465.html
%SEDAR: 00022378E
For further information:
Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144, or Wayne Cheveldayoff, Investor Relations,
[email protected], 416-710-2410
CO: Castle Silver Resources Inc.
CNW 07:30e 31-AUG-17