Tuesday 20th February 2018

Resource Clips


Posts tagged ‘silver’

Castle Silver Resources’ Frank Basa sees cobalt exploration bringing new interest to a former silver mine

December 12th, 2017

…Read more

Castle Silver Resources samples 4.7% at a second Ontario cobalt project

December 9th, 2017

by Greg Klein | December 9, 2017

Recent work at the former Beaver mine shows why some Ontario silver past-producers have attracted Castle Silver Resources TSXV:CSR in its quest for cobalt. An initial field program collected three composite samples averaging 4.68% cobalt, 3.09% nickel, 46.9 g/t silver and 0.08 g/t gold.

Castle Silver Resources samples 4.7% at a second Ontario cobalt project

The individual breakdowns come to:

  • 4.746% cobalt, 3.985% nickel, 37.4 g/t silver and 0.06 g/t gold

  • 4.743% cobalt, 4.624% nickel, 26.9 g/t silver and 0.09 g/t gold

  • 4.554% cobalt, 0.676% nickel, 76.5 g/t silver and 0.09 g/t gold

The three composites came from selected hand-cobbed material gathered at surface and weighing a total of 38.7 kilograms. The samples don’t necessarily reflect the property’s mineralization, Castle Silver cautioned.

Located near the town of Cobalt and within the eponymous camp known for high-grade silver, Beaver shows similarities to Castle, another former silver mine and the company’s flagship, 80 kilometres to the northwest. Last week the company released assays from underground mini-bulk sampling at Castle that graded up to 3.1% cobalt. In November Castle Silver announced a drill intercept of 1.55% cobalt over 0.65 metres from the same property, the first assay from a summer drill program that sunk 22 holes totalling 2,405 metres. More assays are pending for both surface drilling and underground sampling.

The company also holds the former Violet silver-cobalt mine proximal to Beaver.

Noting an obvious discrepancy between Castle Silver’s moniker and its commodity of choice, president/CEO Frank Basa said the February AGM will consider a name change to “further build CSR’s brand in the Canadian cobalt sector with the company holding unique competitive advantages in the northern Ontario Cobalt region, including underground access at Castle and a proprietary metallurgical process (Re-2OX).”

Rockcliff Metals boosts its Talbot copper-polymetallic resource in Manitoba

December 8th, 2017

by Greg Klein | December 8, 2017

Among a number of active projects in the company’s Snow Lake portfolio, the Talbot deposit stands out as Rockcliff Metals’ (TSXV:RCLF) flagship. Now an updated resource has the company increasingly enthused while work continues towards further expansion.

The first update since January 2016 for the 51%-optioned property increases tonnage and contained amounts for an inferred category showing:

  • 4.23 million tonnes averaging 1.61% copper, 1.4% zinc, 1.77 g/t gold and 27.96 g/t silver for 150 million pounds copper, 130.4 million pounds zinc, 241,000 ounces gold and 3.8 million ounces silver
Rockcliff Metals boosts its Talbot copper-polymetallic resource in Manitoba

Based on 84 holes totalling 44,800 metres, the estimate uses a copper-equivalent cutoff of 2%. The copper-equivalent grade comes to 3.4%.

“The deposit remains open in all directions and is robust and predictable in all aspects including the geology, the estimation, classification and reporting assumptions,” said president/CEO Ken Lapierre. “Last year’s geophysics indicated significant upside potential to discover more VMS (copper, gold, zinc, silver) mineralization at the West Talbot deep conductive plate. Our present geophysical survey will focus on this large untested one-kilometre-by-one-kilometre anomaly, located immediately below and in the footwall of the deposit.”

Talbot has more drilling planned for 2018.

Featuring both gold and VMS projects, Rockcliff’s Snow Lake portfolio hosts five gold properties, two copper-polymetallic deposits with resource estimates and three zinc deposits with historic, non-43-101 estimates. All sit within trucking distance of two Hudbay Minerals TSX:HBM processing plants.

Reporting on the Laguna gold project last week, Rockcliff announced geophysics had located 17 high-priority anomalies, while winter plans include more surveying. A fall drill program at the Bur zinc-copper project had around 3,000 metres scheduled to upgrade the historic resource.

Read more about Rockcliff Metals here and here.

Golden Dawn’s Golden Crown gives up 27.2 g/t gold over 0.57 metres, 7.21 g/t over 0.73 metres in southern B.C.

December 5th, 2017

by Greg Klein | December 5, 2017

Another batch of assays shows more high grades from Golden Crown, one of the Greenwood camp past-producers Golden Dawn Minerals TSXV:GOM hopes to revive in southern British Columbia. This program has so far sunk 31 holes totalling 2,954 metres, as drilling continues. Including nine holes released in October, results for 18 reported holes show consistency with previously released intercepts, the company stated. Near-surface drilling targeted massive sulphide veins and adjacent wall rocks, with the most recent highlights including:

Hole GC17-12, King zone

  • 4.99 g/t gold and 0.12% copper over 1.5 metres, starting at 64.38 metres in downhole depth
Golden Dawn’s Golden Crown gives up 27.2 g/t gold over 0.57 metres, 7.21 g/t over 0.73 metres in southern B.C.

A key aspect of Golden Dawn’s plan to
revive Greenwood’s former mines is a
nearby 212-tpd processing facility.

GC17-14, Portal zone

  • 27.2 g/t gold and 0.11% copper over 0.57 metres, starting at 33.88 metres

  • 4.29 g/t gold and 0.07% copper over 1.3 metres, starting at 37.17 metres

GC17-16, Portal zone

  • 7.21 g/t gold and 0.24% copper over 0.73 metres, starting at 27 metres

  • 5.11 g/t gold over 2 metres, starting at 49.5 metres

GC17-18, Southwest zone

  • 41.4 g/t gold, 0.17% copper and 5.9 g/t silver over 0.3 metres, starting at 31.25 metres

True widths weren’t provided.

“The deposit now appears to consist of a field of multiple veins and veinlets, with the main vein structures selected as targets for underground development,” Golden Dawn stated.

Using a 3.5 g/t gold-equivalent cutoff, the 2016 resource shows:

  • indicated: 163,000 tonnes averaging 11.09 g/t gold, 0.56% copper and 11.93 g/t gold-equivalent for 62,500 gold-equivalent ounces

  • inferred: 42,000 tonnes averaging 9.04 g/t gold, 0.43% copper and 9.68 g/t gold-equivalent for 13,100 gold-equivalent ounces

Next year’s plans include increasing and upgrading the resource.

Drilling continues at the project, while the newly acquired JD zone and the three-kilometre trend extending to Golden Crown will see additional drilling next year. One-width intervals of chip samples from JD released in October assayed up to 15.8 g/t gold and averaged 7.4 g/t.

Other 2018 plans for Golden Crown include metallurgical studies as well as permitting for underground mine development and bulk sampling, part of a plan to enter production without de-risking through a feasibility study.

At the nearby Lexington past-producer, meanwhile, Golden Dawn has de-watering nearly complete, with trial mining scheduled to follow next year. That would coincide with wet commissioning at the company’s 212-tpd Greenwood mill, three kilometres from Golden Crown and 17 klicks from Lexington.

Last month Golden Dawn closed an over-subscribed private placement of $2.36 million that followed private placements totalling another $2.3 million that closed in September. Also in November, the company announced negotiations to pick up additional properties.

The current Greenwood portfolio sits about 500 kilometres by highway east of Vancouver.

Read more about Golden Dawn Minerals.

Castle Silver Resources grades 3.1% cobalt from underground sampling in Ontario

December 1st, 2017

by Greg Klein | December 1, 2017

Historically the northeastern Ontario region was known for a precious metal but more recent activity focuses on an energy metal. Cobalt sampling from a former mine “supports our original thesis that past operators may have left much behind at Castle in their strict focus on mining high-grade silver,” stated Castle Silver Resources TSXV:CSR president/CEO Frank Basa. On December 1 the company released more assays from ongoing underground sampling in the past-producer’s first level.

Castle Silver Resources grades 3.1% cobalt from underground sampling in Ontario

An adit seen from the Castle mine’s first of 11 levels
totalling about 18 kilometres of underground development.

Results for two mini-bulk samples graded:

  • 3.124% cobalt, 21 g/t silver and 0.128% nickel

  • 1.036% cobalt, 12.7 g/t silver and 0.117% nickel

A composite from the two samples showed:

  • 2.323% cobalt, 68.7 g/t silver and 0.355% nickel

More assays are pending.

Last month Castle Silver released the first assay from a 2,405-metre summer drill program that the company said found mineralization in all of the 22 holes. The near-surface intercept graded 1.55% cobalt, 0.65% nickel, 0.61 g/t gold and 8.8 g/t silver over 0.65 metres.

Also in November the company teamed up with Granada Gold Mine TSXV:GGM to announce a provisional milling agreement for a plant that would be located on Castle Silver’s property near the town of Gowganda, about 204 kilometres by road from the Granada project. Granada has a 2014 pre-feasibility study and a June resource update.

Southeast of Gowganda and within Ontario’s Cobalt camp, Castle Silver also holds the past-producing Violet and Beaver mines.

Mountain Boy/Jayden hit 8.63 g/t over 7.72 metres in new Golden Triangle gold zone

November 28th, 2017

by Greg Klein | November 28, 2017

Strong assays from a previously unexplored area 550 metres northeast of the Silver Coin deposit indicate a new gold zone on the northwestern British Columbia property, according to the JV partners. With 80% and 20% interests respectively, Jayden Resources TSXV:JDN and Mountain Boy Minerals TSXV:MTB announced the discovery from a recently completed 14-hole, 2,226-metre program.

Highlights from five holes released November 28 include:

Mountain Boy/Jayden hit 8.63 g/t over 7.72 metres in new Golden Triangle gold zone

Magnificent scenery doesn’t distract attention
from high-grade gold at Silver Coin.

Hole SC17-444

  • 8.08 g/t gold and 4.7 g/t silver over 2 metres, starting at 94.03 metres in downhole depth
  • (including 13.7 g/t gold and 5.91 g/t silver over 1 metre)

SC17-445

  • 5.12 g/t gold and 91.3 g/t silver over 3 metres, starting at 35 metres

  • 5.38 g/t gold and 17.07 g/t silver over 7.3 metres, starting at 146.2 metres
  • (including 6.21 g/t gold and 12.06 g/t silver over 5.37 metres)
  • (and including 15.5 g/t gold and 17.1 g/t silver over 1 metre)
  • (and including 10.7 g/t gold and 18 g/t silver over 0.5 metres)

SC17-446

  • 5.9 g/t gold and 45.32 g/t silver over 1.8 metres, starting at 103.6 metres
  • (including 8.62 g/t gold and 42.6 g/t silver over 0.8 metres)

  • 14.6 g/t gold and 52.5 g/t silver over 1 metre, starting at 131.2 metres

SC17-452

  • 8.63 g/t gold and 11.99 g/t silver over 7.72 metres, starting at 16.46 metres
  • (including 17.69 g/t gold and 23 g/t silver over 3.2 metres)

  • 4.86 g/t gold and 5.68 g/t silver over 2.5 metres, starting at 77.82 metres
  • (including 6.46 g/t gold and 6.22 g/t silver over 1.5 metres)

  • 8.25 g/t gold over 1 metre, starting at 88.97 metres

True widths were estimated between 60% and 80%. More assays are pending.

As for the main Silver Coin deposit, using a 2 g/t gold cutoff its 2013 resource shows an inferred category of 967,000 tonnes averaging 4.39 g/t gold, 18.98 g/t silver, 0.64% zinc, 0.25% lead and 0.04% copper.

The 1,470-hectare property hosts a zone of faulting and shearing with mineralization up to 300 metres wide and 2.5 kilometres long, the JV partners stated. They consider Silver Coin to share many characteristics with the former Silbak-Premier mine five kilometres south, which produced an estimated 1.8 million ounces gold, 41 million ounces silver, 4.2 million pounds copper, 62 million pounds lead and 20 million pounds zinc.

Meanwhile Mountain Boy has been reporting high grades and visible gold from another Golden Triangle drill campaign, as the company’s 35%-held Red Cliff project advances towards its maiden resource.

A drill program on two contiguous Golden Triangle properties, Mountain Boy’s 100%-held BA and Surprise Creek silver-base metals projects, awaits analysis of results from an airborne VTEM and magnetic survey.

Having closed a $586,400 private placement in September, the company offered a $300,000 private placement last month.

Read Isabel Belger’s interview with Mountain Boy Minerals chairperson René Bernard.

See an infographic about B.C.’s Golden Triangle.

Quebec acquisition brings Saville Resources precious, base and rare metals prospectivity

November 27th, 2017

by Greg Klein | November 27, 2017

A flurry of updates shows a new project, new faces and new financing for a rejuvenated Saville Resources TSXV:SRE. The company now moves into Quebec’s James Bay region by taking on the 3,370-hectare Covette property. Although it’s seen limited exploration so far, Covette underwent a 1,402-line-kilometre VTEM survey late last year, along with prospecting and sampling this year. The coincidence of EM conductors with magnetic highs suggests prospectivity for base and precious metals, the company reported. This year’s field program included pegmatite sampling for evidence of lithium.

Quebec acquisition brings Saville Resources precious, base and rare metals prospectivity

Of two historic, non-43-101 grab samples, one returned 4.7% molybdenum, 0.73% bismuth, 0.09% lead and 6 g/t silver; while the other showed 1.2 g/t silver and 0.18% copper.

An underlying greenstone belt could offer base and precious metals potential as well as pegmatite-hosted lithium and tantalum. “Komatiites have also been described in the region, with such rock types known to host significant nickel-copper massive sulphide deposits at other localities globally,” the company stated.

Covette lies just 10 kilometres north of the all-weather Trans-Taiga road, which runs parallel to the LG-3 transmission line.

Pending TSXV approval, Saville gets the property by paying Zimtu Capital TSXV:ZC $350,000.

Additionally, Saville announced Michael Hodge’s appointment as president/CEO/director. Having started his career in 1999 on the staking program for Commerce Resources’ (TSXV:CCE) Blue River tantalum-niobium project in British Columbia, Hodge has field experience on over 25 exploration projects as well as success in raising capital for junior miners.

Jody Bellefleur joins Saville as CFO, bringing over 20 years’ experience as a corporate accountant for the sector.

Saville also announced a private placement of up to $270,000. The company closed an $857,300 placement in July. Among other updates, Saville settled $219,000 in debt by issuing shares and warrants that would represent 18.7% of the company’s outstanding shares.

Resource update underway for Rockcliff Metals’ Talbot copper property in Manitoba

November 15th, 2017

by Greg Klein | November 15, 2017

One of a number of active projects in Rockcliff Metals’ (TSXV:RCLF) Flin Flon-Snow Lake portfolio, the Talbot copper property has an updated resource estimate in the works. The initiative follows Phase II drilling and will accompany a DPEM geophysical survey on the West Talbot deep conductive plate, below and west of the deposit. In April the company announced finding VMS mineralization within the plate.

Resource update underway for Rockcliff Metals’ Talbot copper property in Manitoba

While analyzing this year’s drilling data for a resource update,
Rockcliff will conduct geophysics to help identify 2018 targets.

Rockcliff holds a 51% option on Talbot from Hudbay Minerals TSX:HBM.

Last spring’s drill campaign “identified additional areas of high-grade enrichment in the hanging wall and along strike of the present resource,” said president/CEO Ken Lapierre. “The additional DPEM geophysical survey will help us vector in on the exact up-dip location of the West Talbot deep conductive plate. The Talbot copper deposit was originally identified as a smaller geophysical conductive plate so any new larger plates identified in this area are viewed as high-priority targets.”

Dating to January 2016, Talbot’s current resource shows an inferred category for three zones:

Main zone

  • 1.44 million tonnes averaging 3.4% copper, 2.6 g/t gold, 2.4% zinc and 61 g/t silver for 107 million pounds copper, 118,600 ounces gold, 76.4 million pounds zinc and 2.83 million ounces silver

Footwall zone

  • 443,900 tonnes averaging 2.2% copper, 2 g/t gold, 2.4% zinc and 55.6 g/t silver for 22 million pounds copper, 28.5 ounces gold, 23.2 million pounds zinc and 793,800 ounces silver

North lens

  • 283,400 tonnes averaging 0.7% copper, 2 g/t gold, 1.3% zinc and 20.6 g/t silver for 4.6 million pounds copper, 18,300 ounces gold, 7.9 million pounds zinc and 187,600 ounces silver

Total

  • 2.17 million tonnes averaging 2.8% copper, 2.4 g/t gold, 2.2% zinc and 54.6 g/t silver for 133.6 million pounds copper, 165,400 ounces gold, 107.4 million pounds zinc and 3.81 million ounces silver

Rockcliff expects work to be completed by year-end, with results to be released once analyzed. Talbot has more drilling planned for 2018.

Active on several Snow Lake assets, the company began another drill campaign last week at the Bur zinc-polymetallic property. See a roundup of recent Rockcliff news here.

Read more about Rockcliff Metals here and here.

Cambridge House International president Jay Martin looks forward to the San Francisco Silver and Gold Summit on November 20 and 21

November 14th, 2017

…Read more

Castle Silver Resources drills 1.55% cobalt over 0.65 metres with nickel, gold and silver in Ontario

November 13th, 2017

by Greg Klein | November 13, 2017

Last summer’s drilling at Ontario’s former Castle mine “intersected mineralization in each and every hole,” Castle Silver Resources TSXV:CSR reported November 13. The one assay released so far hit 1.55% cobalt, 0.65% nickel, 0.61 g/t gold and 8.8 g/t silver over 0.65 metres starting near surface at 3.85 metres in downhole depth. The company estimates true width between 65% and 85%.

Drilling finished in late August when an originally planned 1,500-metre program completed 22 holes totalling 2,405 metres.

Castle Silver Resources drills 1.55% cobalt over 0.65 metres with nickel, gold and silver in Ontario

Castle Silver expanded its summer campaign
from 1,500 metres to 2,405 metres.

“Once again we’ve demonstrated how historical operators overlooked the potential for cobalt, gold and base metals at the Castle mine as they focused exclusively on the extraction of high-grade silver,” said president/CEO Frank Basa.

“We will carry out trenching to follow up on an array of new near-surface targets generated by this drilling in the immediate vicinity of the Castle mine. But our priority now is to complete final preparations to carry out critical trenching and drilling of untested structures on the first level of the mine.”

With intermittent production between 1917 and 1989, the former mine has 11 levels totalling about 18 kilometres of underground workings. “This does not include an unknown extent of drilled vein structures which were never mined, typically due to silver grades below a certain high-grade threshold, for which CSR has records,” the company added.

Using XRF analysis, an independent firm has found potential for high-grade cobalt mineralization within unmined structures along first-level adit drifts and walls. In July Castle Silver released results from an 82-kilogram bulk sample of vein material that showed 1.48% cobalt as well as 5.7 g/t gold and 46.3 g/t silver. As a result, the company re-evaluated five previous chip samples for gold, with results averaging 3.7 g/t. The samples originally assayed 1.06% cobalt, 5.3% nickel and 17.5 g/t silver.

Earlier this month Castle Silver and Granada Gold Mine TSXV:GGM announced a provisional milling agreement for a plant that would be located on Castle Silver’s property in Gowganda, Ontario. About a 204-kilometre drive from Gowganda, Granada’s project reached pre-feas in 2014 and a resource update in June.

Castle Silver closed the final tranche of a private placement totalling $1.2 million in June.