CSR ADVANCES CASTLE SILVER-COBALT PROJECT
August 31, 2017 – Castle Silver Resources Inc. (TSX.V: CSR, OTC: TAKRF, FRANKFURT: 4T9B) (the “Company” or “CSR”) is pleased to provide the following update regarding its 100%-owned Castle mine, a prolific past silver producer with polymetallic potential near Gowganda, Ontario, where CSR has important underground access.
- A total of 22 drill holes for 2,405 meters have been completed from surface at Castle;
- Assay results from Swastika Laboratories have returned an average of 3.7 g/t Au in five chip samples from the first level of the Castle mine in addition to the high-grade cobalt, nickel and silver reported June 12, 2017;
- IOS Services Géoscientifiques Inc. has completeda Niton Portable XRF analysis of vein structures throughout the first level of the Castle mine, allowing the company to efficiently target locations for additional bulk sampling.
Frank Basa, President and CEO, commented: “CSR continues to make progress on multiple fronts, and this quarter’s achievements so far are highlighted by the completion of a first phase of drilling and a clear path to the creation of cobalt sample products from Castle-sourced material through our proprietary Re-2OX process.
“In addition,” Basa concluded, “we’re seeing the potential for a variety of mineralization types within the Castle mine, well beyond just the high-grade silver that was recovered intermittently throughout the 1900’s. CSR is well-funded to carry out its plans for a strong operational finish to 2017.”
Phase 1 drilling from surface at Castle, expanded beyond the originally planned 1,500 meters, was primarily designed to gain a greater understanding of structures carrying potential cobalt mineralization in underground portions of the Castle mine and at shallow levels within approximately 200 meters of the main adit. Assay results will be reported as soon as they are received, reviewed and interpreted.
IOS Services Géoscientifiques Underground Analysis
Using Niton portable XRF technology, IOS Services Géoscientifiques recently spent several days at the Castle Property to test vein structures on the first level of the Castle mine. This work has supported the potential for high-grade cobalt mineralization which will optimize locations for additional bulk sampling and planned underground drilling once portions of drift are rehabilitated as per OHS standards.
Second Lab Supports Gold Content
A second lab has provided significant gold assays from a large underground sample completed earlier this summer from the first level of the Castle mine.
On July 19, 2017, CSR reported that an 82-kilogram sample of vein material from the first level was crushed to minus 10 mesh, blended and assayed by SGS Lakefield, and returned 5.7 g/t Au in addition to 46.3 g/t silver and 1.48% cobalt.
In light of the surprising gold results, Castle instructed Swastika Laboratories to assay potential gold content of five chip samples collected in the immediate vicinity of the vein structure material assayed by SGS Lakefield. Cobalt, silver and nickel results for these five samples were reported June 12 (average values were 1.06% cobalt, 17.5 g/t Ag and 5.3% nickel). Gold assays have been received and the average grade is 3.7 g/t Au for the five chip samples with values ranging from a low of 0.72 g/t Au to a high of 7.03 g/t Au.
Further studies and sampling are required to determine what the gold may be associated with and if CSR can define gold structures.
Quality Assurance/Quality Control
Samples were crushed to 85% passing 2 mm, split to 250 grams and pulverized to 90% passing 200 mesh. Multi-acid digestion followed by AA for the metals. Gold and silver pulp of 30 grams were assayed by fire assay with AA finish. The results are in line with expected values and internal laboratory results. Blank and standard allow the disclosure of results.
Claude Duplessis, PEng, of Goldminds Geoservices Inc., a geological, environmental and mining consultant, is an independent qualified person in accordance with National Instrument 43-101, and has reviewed and approved the contents of this news release.
About Castle Silver Resources Inc.
Castle Silver Resources Inc. (formerly Takara Resources Inc.) is a TSX Venture-listed junior natural resource company focusing on the exploration and development of former silver and cobalt mine properties in northern Ontario including the Castle Silver mine near Gowganda and the Beaver and Violet mines near Cobalt. Additional information on the Company’s properties is available by visiting its website at www.CastleSilverResources.com.
“Frank J. Basa”
Frank J. Basa P. Eng.
President and Chief Executive Officer
For further information, contact:
Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144, or
Wayne Cheveldayoff, Investor Relations, firstname.lastname@example.org, 416-710-2410
Neither the TSX Venture Exchange nor its Regulation Service 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 including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
© 2010 Junior Gold Report and TechMoney360
Junior Gold Report and TechMoney360 Newsletter: Junior Gold Report’s and Tech Money 360’s Newsletter is published as a copyright publication of Junior Gold Report (JGR) and TechMoney360 (TM360). No Guarantee as to Content: Although JGR/TM360 attempts to research thoroughly and present information based on sources we believe to be reliable, there are no guarantees as to the accuracy or completeness of the information contained herein. Any statements expressed are subject to change without notice. It may contain errors and you should not make any investment decisions based on what you have read on here. JGR/TM360, its associates, authors, and affiliates are not responsible for errors or omissions. By accessing the site and receiving this email, you accept and agree to be bound by and comply with the terms and conditions as set out herein. If you do not accept and agree to the terms you should not use the Junior Gold Report and TechMoney360 sites or accept this email. Consideration for Services: JGR/TM360, it’s editor, affiliates, associates, partners, family members, or contractors may have an interest or position in the featured companies, as well as sponsored companies which compensate JGR/TM360 as such our opinions are biased. We may hold potions in and trade these stocks of the companies we profile and as such our opinions are biased. JGR/TM360 and its’ owner and affiliates/associates may buy/sell and trade the featured companies from time to time. JGR/TM360 has been paid by the companies. Thus, multiple conflicts of interest exist. Therefore, information provided here within should not be construed as a financial analysis but rather as an advertisement. Conduct your own due diligence: The author’s views and opinions regarding the companies featured in report(s) are his/her own views and are based on information that he/she has researched independently and has received, which the author assumes to be reliable. You should never base any buying/selling/trading decisions off of our emails, newsletter, website, videos or any of our published materials. JGR/TM360 aims to provide information and often stock ideas but are by no means recommendations. The ideas and companies featured are highly speculative and you could lose your entire investment – consult a licensed financial advisor if you are considering investing in any of the featured companies. Subscribers/readers are encouraged to conduct their own research and due diligence. The companies mentioned are high risk and considered penny stocks that contain a high risk of volatility, therefore consult your investment advisor and do your own due diligence before purchasing. Never base any investment decision on information contained from our emails, newsletter, website, videos or any of our published materials. No Offer to Sell Securities: JGR/TM360 is not a registered broker dealer, investment advisor, financial analyst, stock picker, investment banker or other investment professional. JGR/TM360 is intended for informational, educational and research purposes only. It is not to be considered as investment advice. No statement or expression of any opinions contained in this report constitutes an offer to buy or sell the shares of the companies mentioned herein. Links: JGR/TM360 may contain links to related websites for stock quotes, charts, etc. JGR/TM360 is not responsible for the content of or the privacy practices of these sites. Information contained herein was extracted from public filings, profiled company websites, and other publicly available sources deemed reliable. Information in this report was taken on or before writing and dissemination and may not be updated. Do you own due diligence as information and events can and do change. Published reports may reference company websites or link to company websites and we disclaim and responsibility for the content and accuracy of any such information or website. Release of Liability: By reading and/or watching videos by JGR/TM360, you agree to hold JGR/TM360, its associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.
Forward Looking Statements
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by the use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. Junior Gold Report/TechMoney360 does not take responsibility for the accuracy of forward looking statements and advises the reader to perform their own due diligence on forward looking numbers or statements.