upcoming mining journal research

Add new layer of intelligence to your investment decisions Publication of the Mining Journal World Risk Report (feat.MineHutte ratings) is the culmination...

EYEBROW

29 September 2017
Test edition
Test edition

Summary of this Test edition

EYEBROW

26 September 2017

upcoming mining journal jobs

Permitting resolution sees Pebble progress

Northern Dynasty pursuing smaller project without cyanide

Trilogy on the road to progress at Ambler

Alaska project owner gets ready to start permitting procedure

South32 rearranging c-suite for spinoff

The two COOs will get some new responsibilities

Rio bolsters Mongolia ties

New office announcement comes a week after tax demand

upcoming mining journal events

SEG 2017 Conference, Ore Deposits of Asia: China and Beyond

Detailed Event Info: The Organizing Committee is pleased to invite you to the SEG 2017 Conference, Ore Deposits of Asia:...

Exploration / Development > Discovery

Cobalt samples reinforce Castle Silver's change of plan

Castle Silver Resources’ (CN:CSR) strategy to focus on cobalt at historic silver mines looks to be paying off with initial samples from its Beaver property in Ontario averaging almost 4.7% cobalt.

Staff reporter

Exploration / Development > Discovery

Cobalt samples reinforce Castle Silver's change of plan

Castle Silver Resources’ (CN:CSR) strategy to focus on cobalt at historic silver mines looks to be paying off with initial samples from its Beaver property in Ontario averaging almost 4.7% cobalt.

Staff reporter

Cobalt samples reinforce Castle Silver's change of plan

Samples from Beaver average 4.68% cobalt

The company has also proposed changing its name at its AGM in February to better reflect its new focus, having acquired three silver mines for their cobalt potential to capitalise on demand for the battery ingredient.

It said three composite samples from the Beaver property, weighing 38.7kg, averaged 4.68% cobalt, 46.9g/t silver, 3.09% nickel and 0.08g/t gold.

"These sampling results reinforce our excitement regarding the cobalt potential of this strategically located property which is patented ground owned 100% by CSR," president and CEO Frank Basa said.

"Our proposed name change will 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)."

The company describes its Castle Silver mine, Beaver mine and Violet mine as three of the most advanced properties in Ontario's Cobalt camp.

"While they comprise only 2,840 hectares they are sources of high-grade cobalt that can quickly be developed into a shovel-ready state," it said.

The explorer reported a net loss of C$926,011 (US$720,000) for the three months to September 30 and working capital of $985,127 (US$766,000).

Shares in the company, which were trading at C4.5c a year ago, hit a 52-week high at the start of December of 32c and last traded at 30c, capitalising it at $16.8 million (US$13 million).

topics

loader