NTH:CC - News of Silver Discovery Sends Shares Higher

2024-05-21 17:20:57 ET

For this explorer, sometimes %Silver is better than gold. A major new silver discovery has been made just 400-500 meters away from another high-grade silver zone and shares are moving up in afternoon trade.

Exploration company %NordPreciousMetalsMining (TSXV: ) (OTC: ) specializes in silver and cobalt. Today the firm announced in a press release the discovery of a significant new silver zone at the Castle East property, named the "All Stars" zone. This discovery marks a pivotal moment in the development of Castle East and underscores the potential for substantial silver resources within the project area.

This exciting development happened at the former Capitol Silver mine, which is now part of Nord's mining claims. Drill results revealed two separate silver veins with impressive grades: 5,441 grams per tonne and 3,730 grams per tonne. This raises the possibility of a massive silver-cobalt deposit in this area, especially considering that only a quarter of it has been explored historically. The potential here is significant, as the Capitol Mine previously produced 60 million ounces of silver.

Both Canadian and U.S. shares were trading higher in afternoon trade.