FULL DISCLOSURE: Nord Precious Metals is a sponsor of theDeepDive.ca.
Nord Precious Metals (TSXV: NTH) has completed a geophysical study at their Castle property. The study, which consisted of an orientation survey using deep ground penetrating radar with Earth Scan Technology, targeted ground near to the historic workings found on site.
The intent of the survey was to investigate the potential for mapping existing openings to a depth of 100 metres. In particular, Nord is aiming to map the upper four levels of workings of the Castle mine, with a particular focus on level one, at 21 metres depth, and level two, at 48 metres depth. The radar system as a whole is said to be capable of penetrating to as much as 200 metres of depth, which would cover eight of the eleven levels associated with the historic workings.
Multiple objectives have been outlined for the mapping effort, including mapping the historic mining drifts with an emphasis on broken mineralized-material-filled versus empty stopes, mapping fractures or potential new veins structures or extensions of mined stopes, and mapping lithologic contacts to further delineate the Nipissing diabase contact, which is the source of high grade silver mineralization.
READ: Nord Precious Metals Identifies 29 Veins At Castle East Following 3D Modeling
With the survey now complete, Earth Scan Technologies is set to provide a final report with maps that identify the structures as well as vertical sections in a 3D model, along with interpretations that highlight stope and vein characteristics.
This data will then be combined with a planned sonic drill program at the Miller Creek tailings as well as metallurgical work in an effort to obtain a Recovery Permit from the Government of Ontario to process historical tailings. The reprocessing of tailings is expected to result in the production of a high grade silver concentrate with critical metal sulfides, while the final tailings will then be mixed with cementing material to backfill empty stopes as part of an ongoing voluntary remediation of historic workings and tailings.
Nord Precious Metals last traded at $0.19 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.
