FULL DISCLOSURE: Nord Precious Metals is a sponsor of theDeepDive.ca.
Nord Precious Metals (TSXV: NTH) has identified 29 veins at their Castle East property, found near Cobalt, Ontario. The finding follows the completion of a geological model prepared using Leapfrog software and structural analysis techniques of all existing data collected on the property.
The reviewed data reportedly includes over 75,000 metres of drill data, which includes orientation, mineralization, alteration, lithology, structure and more. Of the 29 veins identified, 21 were identified as existing within Area A where data density is highest. The remaining eight veins were modeled within Area B. Veins are said to have varied orientation, confirming that a network of veins exist that form a stockwork system.
Only five veins were previously identified on the property.
Structural zones have also been identified on site based on multiple fault bends and jogs that create dilational zones that are favorable for high grade mineralization. Included in these structural zones is a high grade zone, which validates previously reported exceptional grades.
WATCH: Why Grade Beats Size in Silver Mining | Frank Basa – Nord Precious Metals
The compiled data and new model has also been used to identify proposed drill targets, which includes exploration of the under-explored lower contact of the Nipissing Diabase. The lower contact represents 215 hectares of prospective exploration on each contact, while veins have been modelled to extend up to 80 metres beyond the last drill intercepts.
“From the initial discovery in 2011 of the Robinson Zone boasting an intercept of 6,476 g/t Ag (189 oz/Ton) over 3.09 meters to now identifying 29 veins in a comprehensive model, Nord has established a high-grade mineralized zone within 2 kilometers of the last operating high-grade silver mine in the Cobalt area. The identification of a stockwork vein system, rather than isolated veins, fundamentally changes our understanding of the potential scale for Nord’s Castle East property,” commented Frank Basa, CEO of Nord Precious Metals.
Drilling is expected to begin this fall in an effort to follow up on the newly modeled veins, with drilling to focus on the proposed targets to further define and increase confidence in structural modeling. The campaign is expected to push Nord towards an updated resource estimate for the Castle East project, while building upon a 30,000 metre drill strategy outlined in 2024.
Nord Precious Metals last traded at $0.14 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.
