Comprehensive Exploration Strategy for High-Grade Silver Castle East Project Unveiled

Published in 2024
June 25, 2024
7 min read
Comprehensive Exploration Strategy for High-Grade Silver Castle East Project Unveiled

Nord Precious Metals Details Castle East Exploration Strategy Targeting New Mineralization Zones

The Company is excited to announce its comprehensive exploration plan for the next 12 months on the Castle East project, located in Gowganda, Ontario. The Company’s exploration activities will focus on a planned 30,000-meter drill program targeting new mineralization zones discovered during the 60,000-meter drill program between the All-Stars zone and the Robinson zone, as well as assessing potential mineralization between the Castle Mine and the Robinson zone. The drill program is planned to commence following an extensive data recompilation phase.

Strategic Exploration Plan

The Castle East project is a cornerstone asset for Nord Precious Metals. With an established inferred mineral resource of 7.5 million ounces of silver from 2020, the company plans to advance its understanding of the project’s geological potential through targeted drilling and data integration.

Nord Precious Metals’ President and COO Matt Halliday, P.Geo, highlighted the significance of this initiative: “Our exploration plan is designed to systematically test high-priority targets and expand our understanding of the mineralization between the known zones. This strategic initiative aims to enhance resource definition and identify significant new mineral resources.”

In 2020, the Company filed the first modern Silver-Cobalt mineral resource estimate in the Cobalt Camp for the Castle East deposit, reporting 27.4 thousand tonnes of inferred mineral resource averaging 8,582 grams of silver per tonne (250.2 ounces/ton), totaling 7.56 million ounces of silver (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 43-101 Technical Report). The Castle East project is part of the prolific Cobalt Embayment, which has historically produced about 600 million ounces of silver and is situated in the southern part of the Abitibi Greenstone Belt, a renowned gold-producing region.

The Company will continue to advance its assets in the Gowganda Silver Camp, with an immediate focus on the All-Stars zone of the Castle East project.

Program Highlights

Impactful Program

Over the next coming months, Nord Precious Metals plans to execute an extensive 30,000-meter expansion drill program, focusing on:

  • East and West Strike Expansion: Connecting the All-Stars zone with the Robinson zone.

  • Eastward Drilling from Historic Castle Mine: Exploring mineralization potential moving eastward towards the Robinson Zone.

  • Recompilation of Geological Data

Prior to initiating the drill program, Nord Precious Metals will undertake a comprehensive recompilation of all existing drill results and geophysical data. This process will involve creating new lithological, alteration, and structural models, which are particularly important for the All-Stars zone due to its proximity to the historic Capitol Mine.

“Incorporating as much data as possible from the historic Capitol Mine is crucial for understanding the full potential of the All-Stars zone,” explained Matt Halliday, P.Geo, President and COO of Nord Precious Metals.

Demonstrated Mineralization

Work conducted to date on the Castle East project has been based on the high-grade silver mineralization of the Robinson Vein and the Big Silver Vein, with geophysical data suggesting a continuation of these structures towards the All-Stars zone.

NTH Castle East Robinson Zone Significant Drill Intercepts (Core Intervals)
Hole
#
From
[m]
To
[m]
Length
[m]
Ag
[g/t]
Ag [oz/ton]Co
[%]
CA1108563.54566.633.096,476.29188.920.13
Including564.34564.790.4540,944.001,194.400.91
CS-19-08W1558.00560.502.5012,738.55371.600.09
Including559.40560.000.6050,583.391,475.590.30
CS-19-08W2545.00549.004.007,259.50211.770.20
Including547.20547.500.3070,380.152,053.102.61
CS-19-08W3568.00569.001.0056.401.651.35
CS-20-22563.90564.500.604,971.39145.020.39
Including564.15564.500.358,338.41243.240.66
CS-20-22407.00419.0012.0029.050.850.00
Including409.45409.850.40368.7010.760.01
CS-20-28459.60460.000.403,452.61100.7
CS-20-39557.46557.760.3089,853.002,621.1
CS-20-39W2561.73562.440.7130,931.44902.3
Including561.73562.140.4151,612.001,505.6
and including562.14562.440.302,668.0077.8
CS-20-39W4475.30475.700.402,019.0058.9
CS-20-39W4550.60551.901.3019,308.11563.2
Including550.60551.080.482,097.0061.2
and including551.08551.500.4253,739.001,567.6
and including551.50551.900.403,809.00111.1
CS-21-50548.43548.870.442,208.0064.4
CS-21-54484.87485.520.654,233.30123.5
Including484.87485.170.307,981.00232.8
and including485.17485.520.351,021.0029.8
CS-21-51448.20448.850.652,040.2559.5
Including448.20448.550.351,443.9042.1
and including448.55448.850.302,736.0079.8
CS-21-61449.00450.41.4010,239.60298.7
CS-21-61449.55449.970.4230,416.91887.3
CS-21-65254.03254.410.387,328.47213.78
CS-21-65421.00421.420.421,883.2154.94
CS-21-73512.50513.000.502.900.0084.60
CS-21-77W1453.00453.500.502,760.0080.51
CS-21-78490.38490.850.471,080.0031.51
CS-21-81482.33483.341.013,680.00107.35
CS-21-84501.00501.670.673,020.0088.10
CS-22-11564.9965.520.534,710.00137.40

Expansion Drilling Results

Recent drill holes, located over 400 meters west of the current resource, have returned promising results, in an area which was historically mined out including:

  • 5,441 g/t Ag over 0.37 meters

  • 3,730 g/t Ag over 0.75 meters

Connecting Mineralization

A systematic drill plan with regular spacing is intended to connect mineralization from the All-Stars zone towards the Robinson zone, enhancing the continuity of the resource.

Potential to the Northwest

Approximately 1.2 kilometers of ground between the historic Castle Mine and the Robinson zone remains underexplored. This area offers significant exploration potential.

Strike Extensions

There is potential to expand the Robinson Zone northward, further increasing the resource base. Additionally, it is possible to investigate continuation to the south toward the Archean Silver hit.

Geological and Structural Insights

The current zones, extending up to a vertical depth of 430 meters, are characterized by near-vertical, narrow carbonate veins with high-grade native silver and cobalt minerals. At the western end, near the historic Castle Adit, mineralization is shallow and near-surface. The Castle Mine, developed to 11 levels, shows veins with long strikes of hundreds of meters based on historical stopes and developments.

The shallow mineralization towards the west is primarily due to the upper contact being at or close to surface there. Some ore was mined from the lower contact there too – as it was still relatively shallow at 300m (or less where the upper contact has been eroded). Robinson Zone area – nearing the centre of the Miller Lake (diabase) basin even the upper contact is >200m depth which is why there is less historical work there because it was too deep at the time. New technologies allows us to explore and mine deeper. This opens up a huge surface area (of diabase contacts – upper and lower) for mineralization potential as equally rich as the shallower mineralization to the west.

It is also important to understand that mineralization need not be constrained to the diabase sill as, particularly outside of Gowganda, most mineralization was mined from the Huronian Sediments or the Archean Volcanics. Gowganda has seen about 95% of the mining coming from the Nipissing Diabase, but we have intersected silver mineralization in the overlaying Archean rocks which opens the doors to expanded mineral horizons in the future. We intercepted 4,710 gpt Ag (151 opt Ag) at a downhole depth of 64.99-65.52m in CS-22-115.

Incorporating Historic Data

Little drilling has been completed between the historic Castle Mine and Castle East. The company plans to incorporate the Capitol Mine plans and Castle Mine data into a 3D model to evaluate the potential. Combined with the recently acquired MPASS geophysical data, this will help identify new high-priority targets in the area. Historically, the operators of the Castle and Capitol Mines were focussed on extending their mineable ore deeper and proximal to the existing workings; it was only later that they started exploration drilling further out from the workings – little was done before the silver prices fell and operations were shut down. Additionally, the Capitol Mine was shut down not due to the completion of mining, but the need for a new shaft or ramps to have less costs associated with moving the ore.

Groundwork and Mapping

Other groundwork to include follow-up mapping and channel sampling, which identified gold mineralization south of the All-Stars zone. This area may contain an important Archean structure beneficial for both gold exploration and silver-cobalt-gold exploration. The Archean structures could host gold mineralization, additionally they have been thought to assist silver emplacement through later reactivation of faults.

Re-Sampling and Structural Data

The Company will evaluate re-sampling some previously drilled holes to identify additional gold mineralization and extract more structural data for the 3D models.

Committed to Sustainable Exploration

Nord Precious Metals is dedicated to conducting its exploration activities with a strong emphasis on sustainability and environmental stewardship. The company’s exploration strategy includes measures to minimize the environmental impact and engage with local communities to ensure responsible resource development.

QAQC

The core samples were cut in two with a rock saw. One half was sent to the assay lab and the other half was retained as witness core. Blanks and certified reference material (standards) were inserted into the sampling sequence such that they represent no less than 10% of the total samples. The results of the blanks and standards are within expected values allowing public disclosure of the assays.

Qualified person

The technical information in this news release was approved and prepared under the supervision of Mr. Matthew Halliday, P.Geo., (PGO), President and COO of Nord Precious Metals, a qualified person accordance with National Instrument 43-101.

About Nord Precious Metals Mining Inc.

Nord Precious Metals Mining Inc. (formerly Canada Silver Cobalt Works Inc.) 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 un-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 demonstrated 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 Ontario and northern Quebec where it has recently completed a 16,000-metre drill program on the Graal property; and (2) 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 East, 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.

X(Twitter): https://twitter.com/nordmetals

LinkedIn: https://www.linkedin.com/company/nord-precious-metals/

Facebook: https://www.facebook.com/nordpreciousmetals/

“Frank J. Basa”

Frank J. Basa, P. Eng. Professional Engineer Ontario

Chief Executive Officer

For further information, contact:

Frank J. Basa

Chief Executive Officer

416-625-2342

or:

Wayne Cheveldayoff,

Corporate Communications

P: 416-710-2410

E: [email protected]

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 programs, 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 those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.


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Table Of Contents

1

Strategic Exploration Plan

2

Program Highlights

3

Demonstrated Mineralization

4

Expansion Drilling Results

5

Geological and Structural Insights

6

Incorporating Historic Data

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