Canada Cobalt Works of Coquitlam, B.C., says that two widely spaced drill holes have intersected an apparent syenite hosted gold system east of the historic Castle cobalt-silver mine 75 km from Kirkland Lake, near Gowanda.
The drill program east of the mine is targeted at high grade gold zones associated with a previously undiscovered major fault structure. A new hole has been collared to intersect gold mineralization parallel to the discovery hole and above a fault that Canada Cobalt says provided a pathway for mineralizing fluids.
The company has completed phase one drilling on the first level of the Castle mine. An expanded phase two program will begin early next year. The results of phase one are pending, but earlier work assayed results were as high as 2.3% cobalt over 7 metres. Canada Cobalt's geological model proposes that mining on the firsts level in the 1980s missed vein structures that are enriched with cobalt and silver.
The Castle mine produced 440,000 lb. of cobalt when it was mined. Learn more at www.CanadaCobaltWorks.com.
This story first appeared at Canadian Mining Journal