Two of the best places to find cobalt
​CSR samples high-grade cobalt in Ontario and awaits results from recycling cobalt and lithium from old batteries.
Initiating coverage on Castle Silver Resources Inc. (“CSRâ€) today with yesterday’s release of highly promising sampling results from its 100% owned Castle Mine Property near Gowganda in Ontario, Canada. The company announced that chip sampling from the back of a quartz-carbonate vein on the first level of the past producing Castle Mine confirmed the presence of high-grade cobalt and nickel.
The Castle Mine was in production sporadically between 1917 and 1989, during which time previous operators only mined and assayed for silver in their exclusive focus on exceptionally high-grade silver production (total of 9.5 million oz silver and 300,000 lbs cobalt).
A short distance inside the adit, chip sampling results show strong mineralization along a 4 m length of a vein as wide as 30 cm. The vein is observed to continue for some 90 m. The first 5 chip samples average 1.06% cobalt, 5.3% nickel and 17.5 g/t silver. In general, cobalt grades of 0.5% are considered high-grade. Although chip samples are selective samples and thus not representative of the mineralization hosted within the target area, the results show the great potential of an upcoming drill program to discover more representative mineralization. Underground sampling, covering multiple target areas, continues ahead of drilling.
CSR is currently also completing a series of bulk samples to be processed with the company’s proprietary Re-2OX hydrometallurgical process to produce high purity cobalt powders for battery sector end buyer evaluation.
Meanwhile, CSR is also using its “highly adaptable†Re-2OX process for testing recovery of cobalt and lithium from used lithium-ion batteries as the company vigorously pursues exciting opportunities in recycling technology. Re-2OX strips battery casings to leach the cathodes in order to create a high-purity precipitate containing the metal. CSR expects to soon release first-stage results from SGS Lakefield.
Rockstone is a research house specialized in the analysis and valuation of capital markets and publicly listed companies. The focus is set on exploration, development and production of resource deposits as well as marcoeconomic analysis of commodity and currency markets. Our international team of five analysts bring our German and English speaking readership a wealth of experience from the commodity markets: Stephan Bogner (mining analyst), John P. Barry (professional geologist), Chris Berry (macroeconomist), Prof. Dr. Hans Bocker (award-winning book author), and Boris Gerjovic (fundamental analyst).
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