FULL DISCLOSURE: Nord Precious Metals is a sponsor of theDeepDive.ca.
Nord Precious Metals (TSXV: NTH) has hit extremely high grade silver at their Castle East project, with one narrow interval grading high enough to rank among the more eye-catching numbers the silver sector has seen this year.
The company this morning released assays from two drill holes, both wedges cut from the same mother hole, that extend the high grade Robinson Zone vein system. The standout came from hole CS-21-73W1, located roughly 10 metres updip of its parent.
Highlights from the results include:
- CS-21-73W1: 2,848 g/t silver and 0.12% cobalt over 6.65 metres from 498.80 metres depth
- Including 61,389 g/t (1,790.8 oz/ton) silver and 2.44% cobalt over 0.30 metres from 501.85 metres depth
- CS-21-73W2: 242 g/t silver over 4.30 metres from 495.85 metres depth
- Including 3,452 g/t silver over 0.30 metres from 496.85 metres depth
Both intercepts carried critical minerals alongside the silver. The ultra high grade sub-interval in CS-21-73W1 returned 2.44% cobalt, with anomalous nickel, copper and gold logged through the broader zone, a signature of the five element vein assemblage that defines the historic Cobalt-Gowganda district.
Nord also flagged a third hole, CS-21-73W3, where drillers cut a five centimetre vein of native silver and cobalt arsenide mineralization about 25 metres updip of the W1 intercept. Assays on that hole are still pending, but the company says it extends the known vein system further than previous drilling and confirms the structure remains open along strike.
The work is part of a 5,000-metre phase announced in May, itself a slice of a broader 30,000-metre program. An earlier phase validated a structural model built from 75,000 metres of historical data that flagged as many as 29 vein targets.
Chief Executive Frank J. Basa tied the results to the company’s recent land consolidation. “With Nord now holding title to all the area mining leases following the recent acquisition, we can test structures that could not be drilled under fragmented ownership,” he said, noting that one past-producing mine in the acquired ground yielded roughly 40 million ounces of silver. He added that every metre drilled “feeds directly into our planned resource update and, in turn, a future production plan.”
Castle East hosts a historical inferred resource of 7.56 million ounces of silver grading 8,582 g/t, though that estimate dates to 2020 and is not treated as current. Nord also operates the only permitted high grade milling facility in the historic Cobalt Camp.
Nord Precious Metals last traded at $0.185 on the TSX Venture.
FULL DISCLOSURE: Nord Precious Metals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Nord Precious Metals. The author has been compensated to cover Nord Precious Metals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
