Nord Precious Metals Resumes Permitting Process for Castle, Paving the Way for a Bulk Sample Refocus on Castle East Permitting and Bulk Sample Processing
Nord Precious Metals Resumes Permitting Process for Castle, Paving
the Way for a Bulk Sample
Refocus on Castle East Permitting and Bulk Sample Processing
January 29, 2024 – Coquitlam, BC, Nord Precious Metals Mining Inc., (TSXV: NTH) (OTC QB: CCWOF)
(Frankfurt: 4T9B) (the "Company" or "Nord” or “Nord Precious Metals”) , is pleased to announce the
resumption of the permitting process for the Castle East High-Grade Silver Project. Nestled in the prolific
Cobalt Mining Camp, where, for almost a century, high-grade silver and cobalt were extracted. These projects
hold immense potential for Nord Precious Metals.
The restart of the permitting process signifies a strategic move by Nord Precious Metals to enhance its
operations and contribute to the legacy of the Cobalt Mining Camp. In addition to the permitting process, the
company is set to embark on taking a bulk sample - marking a crucial step towards the potential of future
mining in the region.
In more than 60,000 metres of d iamond drilling at the Castle property, which includes the past-producing
Castle silver-cobalt mine and a recent major discovery at Castle East, the Company has intersected several
mineralized veins with exceptional grades – the highest to date being 89,853 g/t silver (2,621 ounces per
ton) over 0.3 metres in Hole CS-20-39 (see Company news release, January 29, 2021).
The Company also intends to produce critical metals that the economy demands, and is exploring the potential
to place existing and future tailings underground in historic mines, as an environmentally friendly process to
contribute to the restoration and rehabilitation of these sites.
As we await the finalization of the recovery permit program in Ontario following changes to the Mining Act,
Nord Precious Metals anticipates collaborative opportunities as an operator with key companies in the region.
This aligns with the Company's commitment to sustainable and efficient mining practices.
Matt Halliday, P. Geo, President of Nord Precious Metals, expressed enthusiasm for the initiatives on the Castle
Property, stating, "We believe there is great opportunity in the Miller Lake basin, which, during past mining,
witnessed approximately 60 million ounces of silver production at the rim. However, our focus is on extending
operations to the center of the basin, presenting unparalleled prospects. Moreover, there are opportunities to
produce low-cost byproducts for the EV market, such as cobalt sulfate and nickel sulfate."
The Miller Lake Basin is in the Gowganda area of the Cobalt Mining Camp, which produced well over 500
million ounces of silver and over 30 million pounds of cobalt from more than 100 mines operating from
Nord Precious Metals Mining Inc.
3028 Quadra Court
Coquitlam, B.C., V3B 5X6
www.nordpreciousmetals.com.
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1903 to 1989 (Sergiades, A.O. (1968) Silver Cobalt Calcite Vein Deposits of Ontario, Ontario Dept. of Mines,
MRC No.10 and Owsiacki,L. and Lovell, H. (1984) GAC-MAC Field Trip Guide Book).
Nord Precious Metals remains dedicated to advancing responsible mining practices and contributing
positively to the mining industry's growth. The company looks forward to making significant strides in the
Castle projects and further establishing its presence in the Cobalt Mining Camp.
Interested investors can access information about Nord Precious Metals at its website,
NordPreciousMetals.com and its social media channels at X(Twitter), LinkedIn, Facebook, and YouTube for
which links are available on the Company’s website.
Qualified Person
The technical information in this news release was approved by and prepared under the supervision of Mr.
Matthew Halliday, P.Geo., (PGO), President, COO and VP Exploration of Nord Precious Metals Inc., a qualified
person in accordance with National Instrument 43-101.
About Nord Precious Metals Mining Inc.
Nord Precious Metals Mining Inc. (formerly Canada Silver Cobalt Works I nc.) recently discovered a major
high-grade silver vein system at Castle East located 1.5 km from its 100% -owned, past-producing Castle
Mine near Gowganda in the prolific and world -class silver-cobalt mining district of Northern Ontario. The
Company has completed a 60,000 m drill program aimed at expanding the size of the deposit with an update
to the resource estimate underway.
In May 2020, based on a small initial drill program, the Company published the region’s first 43 -101
resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising
very high-grade silver (8,582 grams per tonne u n-cut or 250.2 oz/ton) in 27,400 tonnes of material from
two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately
400 meters. Note that mineral resources that are not mineral reserves and do not have demonst rated
economic viability. Please refer to the Nord Precious Metals (previously Canada Silver Cobalt Works) Press
Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43 -101 Technical
Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of
May 28, 2020, and a signature date of July 13, 2020.
The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently
completed a nearly 16,000 -metre drill program on the Graal property; and (2) the prospective 1,000 -
hectare Eby -Otto gold property close to Agnico Eagle’s high -grade Macassa Mine near Kirkland Lake,
Ontario where it is exploring. (3) St. Denis -Sangster lithium project – 260 square kilometers of greenfield
exploration ground with numerous pegmatites focussed along a significant volcanic sedimentary rock –
Archean granite contact near Cochrane, Ontario contiguous to Power Metals’ Case Lake Lithium properties.
Nord Precious Metal’s flagship silver -cobalt Castle mine and 78 sq. km Castle property feature strong
exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned
Castle Mine, an exceptional high -grade silver discovery at Castle Ea st, a pilot plant to produce cobalt -rich
gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary
hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as
nickel-manganese-cobalt (NMC) formulations), Nord Precious Metals is strategically positioned to become
a Canadian leader in the silver -cobalt space. More information is available at
www.nordpreciousmetals.com.
“Frank J. Basa”
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Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
Caution Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services 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 which include, but are not limited to, comments that involve future events and conditions,
which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address
resource potential, upcoming work pr ograms, geological interpretations, receipt and security of mineral property titles,
availability of funds, and others are forward -looking. Forward -looking statements are not guarantees of future
performance and actual results may vary materially from thos e statements. General business conditions are factors that
could cause actual results to vary materially from forward -looking statements.