Promising Gold Results Unveiled in the Gowganda Camp

Published in 2024
March 05, 2024
4 min read
Promising Gold Results Unveiled in the Gowganda Camp

Following extensive drilling efforts targeting both silver and gold mineralization, Nord Precious Metals is thrilled to announce the initial findings from hole CS-23-123. These results mark a significant step forward in our exploration endeavors within the Gowganda Camp.

In addition to our ongoing pursuit of mineralization at the Castle East Silver Deposit, we have strategically designed holes to investigate the compelling gold values uncovered during our summer stripping and prospecting activities. Our exploration team is excited about the potential for a regional gold target within the Gowganda Camp at the system level.

Results from CS-23-123:

  • The targeted zone was intersected with gold results up to 3.05 grams per tonne. The zone here is about 9 m wide consisting of anomalous gold mineralization within a zone of strong pervasive chlorite alteration of the rocks and intense fracturing.

  • Within this zone is a 3.83 m zone running at a weighted average of 1.41 grams per tonne Au in the range represented in the table below from 252.2 m to 256.03 m.

  • This drill campaign represents the beginning stage of defining multiple gold trends across the property with these early results being very encouraging from a system perspective. Additional results are pending.

SampleFrom (m)To (m)Length (m)Au (g/t)
DH0013118252.2253.150.951.15
DH0013119253.15254.080.930.508
DH0013121254.08254.80.720.491
DH0013122254.8255.450.652.67
DH0013123255.45256.030.583.05

“These new gold grades are very encouraging,” stated Matthew Halliday, President at Nord Precious Metals. “We believe there is substantial potential for understanding a broader system within the Gowganda Camp. While a large gold system may exist independently from the silver system, it could hold vital clues that enhance our understanding of the area’s broader geology.”

The Castle East Silver Deposit sits atop a large Archean shear, which may play a pivotal role in both the deposition of Archean gold mineralization on-site and the potential remobilization of these minerals into younger silver veins.

Nord Precious Metals remains committed to exploring and unlocking the full potential of the Gowganda Camp. With these promising initial results, we are poised to continue our rigorous exploration efforts, furthering our understanding of the region’s geological intricacies and unlocking its mineral wealth.

Interested investors can access information about Nord Precious Metals at its website, NordPreciousMetals.com and its social media channels at X(Twitter), LinkedIn, Facebook, and YouTube for which links are available on the Company’s website.

Qualified Person

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

Quality Control and Reporting Protocols

These assay results are from TTL in Cobalt, Ontario. The drill program, quality assurance, quality control (QAQC), and interpretation of results is performed by qualified persons employing procedures consistent with NI 43-101 and industry best practices. Either a Standard or a blank is included with every 10 samples for QAQC purposes for this program in addition to the lab QAQC.

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 Northern Quebec where it has recently completed a nearly 16,000-metre drill program on the Graal property; and (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle’s high-grade Macassa Mine near Kirkland Lake, Ontario where it is exploring. (3) 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.

“Frank J. Basa”

Frank J. Basa, P. Eng.

Chief Executive Officer

For further information, contact:

Frank J. Basa, P.Eng.

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.


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