(TheNewswire)
Refocus on Castle East Permitting andBulk Sample Processing
January 29, 2024 – TheNewswire- Coquitlam, BC - Nord Precious Metals MiningInc., (TSXV:NTH) (OTC:CCWOF) (Frankfurt:4T9B)(the "Company" or "Nord” or “Nord PreciousMetals”), is pleased to announce the resumption of the permittingprocess for the Castle East High-Grade Silver Project. Nestled in theprolific Cobalt Mining Camp, where, for almost a century, high-gradesilver and cobalt were extracted. These projects hold immensepotential for Nord Precious Metals.
The restart of the permitting process signifies astrategic move by Nord Precious Metals to enhance its operations andcontribute to the legacy of the Cobalt Mining Camp. In addition to thepermitting process, the company is set to embark on taking a bulksample - marking a crucial step towards the potential of future miningin the region.
In more than 60,000 metres of diamond drilling at theCastle property, which includes the past-producing Castlesilver-cobalt mine and a recent major discovery at Castle East, theCompany has intersected several mineralized veins with exceptionalgrades – the highest to date being 89,853 g/tsilver (2,621 ounces per ton) over 0.3 metres inHole CS-20-39 (see Company news release, January 29, 2021).
The Company also intends to produce critical metalsthat the economy demands, and is exploring the potential to placeexisting and future tailings underground in historic mines, as anenvironmentally friendly process to contribute to the restoration andrehabilitation of these sites.
As we await the finalization of the recovery permitprogram in Ontario following changes to the Mining Act, Nord PreciousMetals anticipates collaborative opportunities as an operator with keycompanies in the region. This aligns with the Company's commitment tosustainable and efficient mining practices.
Matt Halliday, P. Geo, President of Nord PreciousMetals, expressed enthusiasm for the initiatives on the CastleProperty, stating, "We believe there is great opportunity in theMiller Lake basin, which, during past mining, witnessed approximately60 million ounces of silver production at the rim. However, our focusis on extending operations to the center of the basin, presentingunparalleled prospects. Moreover, there are opportunities to producelow-cost byproducts for the EV market, such as cobalt sulfate andnickel sulfate."
The Miller Lake Basin is in the Gowganda area of theCobalt Mining Camp, which produced well over 500 million ounces ofsilver and over 30 million pounds of cobalt from more than 100 minesoperating from 1903 to 1989 ( Sergiades, A.O.(1968) Silver Cobalt Calcite Vein Deposits of Ontario, Ontario Dept.of Mines, MRC No.10 and Owsiacki,L. and Lovell, H. (1984) GAC-MACField Trip Guide Book).
Nord Precious Metals remains dedicated to advancingresponsible mining practices and contributing positively to the miningindustry's growth. The company looks forward to making significantstrides in the Castle projects and further establishing its presencein the Cobalt Mining Camp.
Interested investors can access information about NordPrecious Metals at its website, NordPreciousMetals.com and its social media channels at X(Twitter), LinkedIn,Facebook, and YouTube for which links are available on the Company’swebsite.
Qualified Person
The technical information in this news release wasapproved by and prepared under the supervision of Mr. MatthewHalliday, P.Geo., (PGO), President, COO and VP Exploration of NordPrecious Metals Inc., a qualified person in accordance with NationalInstrument 43-101.
About Nord Precious Metals MiningInc.
Nord Precious Metals Mining Inc. (formerly CanadaSilver Cobalt Works Inc.) recently discovered a major high-gradesilver vein system at Castle East located 1.5 km from its 100%-owned,past-producing Castle Mine near Gowganda in the prolific andworld-class silver-cobalt mining district of Northern Ontario. TheCompany has completed a 60,000 m drill program aimed at expanding thesize of the deposit with an update to the resource estimateunderway.
In May 2020, based on a small initial drill program,the Company published the region’s first 43-101 resource estimatethat contained a total of 7.56 million ounces of silver in Inferredresources, comprising very high-grade silver (8,582 grams per tonneun-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections(1A and 1B) of the Castle East Robinson Zone, beginning at a verticaldepth of approximately 400 meters. Note that mineral resources thatare not mineral reserves and do not have demonstrated economicviability. Please refer to the Nord Precious Metals (previously CanadaSilver Cobalt Works) Press Release May 28, 2020, for the resourceestimate. Report reference: Rachidi, M. 2020, NI 43-101 TechnicalReport Mineral Resource Estimate for Castle East, Robinson Zone,Ontario, Canada, with an effective date of May 28, 2020, and asignature date of July 13, 2020.
The Company also has: (1) 14 battery metals propertiesin Northern Quebec where it has recently completed a nearly16,000-metre drill program on the Graal property; and (2) theprospective 1,000-hectare Eby-Otto gold property close to AgnicoEagle’s high-grade Macassa Mine near Kirkland Lake, Ontario where itis exploring. (3) St. Denis-Sangster lithium project – 260 squarekilometers of greenfield exploration ground with numerous pegmatitesfocussed along a significant volcanic sedimentary rock – Archeangranite contact near Cochrane, Ontario contiguous to Power Metals’Case Lake Lithium properties.
Nord Precious Metal’s flagship silver-cobalt Castlemine and 78 sq. km Castle property feature strong exploration upsidefor silver, cobalt, nickel, gold, and copper. With underground accessat the fully owned Castle Mine, an exceptional high-grade silverdiscovery at Castle East, a pilot plant to produce cobalt-rich gravityconcentrates, a processing facility (TTL Laboratories) in the town ofCobalt, and a proprietary hydrometallurgical process known as Re-2Ox(for the creation of technical-grade cobalt sulphate as well asnickel-manganese-cobalt (NMC) formulations), Nord Precious Metals isstrategically positioned to become a Canadian leader in thesilver-cobalt space. More information is available at www.nordpreciousmetals.com .
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.com
Caution Regarding Forward-LookingStatements
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may contain forward-looking statementswhich include, but are not limited to, comments that involve futureevents and conditions, which are subject to various risks anduncertainties. Except for statements of historical facts, commentsthat address resource potential, upcoming work programs, geologicalinterpretations, receipt and security of mineral property titles,availability of funds, and others are forward-looking. Forward-lookingstatements are not guarantees of future performance and actual resultsmay vary materially from those statements. General business conditionsare factors that could cause actual results to vary materially fromforward-looking statements.
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