“These intercepts are unbelievable, and we’re persevering with to increase on all our main mineralized zones,” Matt Halliday, the corporate’s CEO mentioned in a press launch. “We will’t wait to ship extra information on Massive Silver, the 17m zone and zone 50 as we’re getting leads to and compiled.”
The mission is positioned 15 km east of Aris Gold’s (TSX: ARIS; US-OTC: ALLXF) Juby Gold deposit, 30 km south of Alamos Gold’s (TSX: AGI; NYSE: AGI) Younger-Davidson mine and 75 km southwest of Kirkland Lake Gold’s (TSX: KL; NYSE: KL; ASX: KLA) Macassa Complicated.
The 78 sq. km Citadel mission space consists of the past-producing Citadel mine, which operated at varied instances between 1917 and 1989, and produced a complete of about 8.41 million oz. of silver and 376,053 lb. cobalt, the corporate says. Infrastructure on the website consists of underground entry on the Citadel mine and a pilot plant to provide cobalt-rich gravity concentrates.
The corporate says the mission presents “
An up to date useful resource for the mission shall be launched later this yr, the corporate says, and can embrace
In response to the 2020 useful resource assertion, the mission has inferred assets of 32,900 tonnes grading 7,149 grams silver per tonne, 2,537 grams cobalt per tonne, 628 grams copper per tonne, 467 grams nickel per tonne, 41 grams lead per tonne, 52 grams zinc per tonne for 7.56 million oz. of silver. The useful resource estimate, which coated zones 1A, 1B and 2A, used a cut-off grade of 258 grams silver-equivalent per tonne.
Highlights from drilling at Citadel East launched in August final yr included 1.40 metres grading 10,239.60 grams silver per tonne (143.39 grams of gold-equivalent per tonne) ranging from 449 metres in drill gap CS-21-61 and 0.38 metres grading 7,328.47 silver per tonne (102.62 gram gold-equivalent per tonne) ranging from 254.03 metres in drill gap CS-21-65.
At presstime, Canada Silver was buying and selling at C17.5¢ per share inside a 52-week buying and selling vary of C15.5¢ and C77¢. The corporate has about 163 million widespread shares excellent for a market cap of about C$27.7 million.
(This text first appeared in The Northern Miner)