The former cobalt and silver producing Castle cobalt silver mine property is located 85 kilometres northwest of the historic Cobalt silver mining camp. As of December 2017, the Castle Mine site property comprised 19 claims, 34 leases and two licenses of occupation totalling 2,815 ha. This is a significant five-fold increase from the original 564 hectares.
The historic Castle Mine site operated at various times between 1917 and 1989 producing a documented total of 292,686,672 grams (9,410,095 oz.) silver and 376,053 lbs. cobalt from the No. 3 shaft with a further unspecified production between 1951 and 1966 coming from both Castle No. 3 and Capitol shafts – production records do not specify shaft. To view cobalt production by year click here.
As part of the winter drill program in 2011, a significant intersection of 3.09 metres grading 6,476 grams per tonne silver was found in drill hole CA-1108, one of 12 holes comprising the 2011 6,000-metre program. At that time, the property was under control of Gold Bullion Development Corp (now Granada Gold Mine Inc.) See press release dated August 25, 2011. Click here to view the release.
Apart from the rich and lengthy mining history in the region, the Castle cobalt silver mine property has the potential to host a significant cobalt plus high grade silver. There is also a strong likelihood future cobalt mining economics will be enhanced by metal credits such as nickel, silver and others.
A potentially significant quartz float was recognized northwest of the Castle adit. Canada Cobalt staked claims to cover the structure and extension presumed to be the source of the float, which supports the potential of a quartz vein system in the staked ground east of the Montreal River Provincial Park along the Bloom Lake Fault.
Two additional claims consisting of three claim units were staked in Nicol Township. The claims are in close proximity to the historic O’Brien Mine that produced 1,267,059,144 grams, (40,736,585 ounces) of silver to the end of 1969 as reported in a 1978 Ontario Geological Survey Report 175. These claims cover the Castle No.1 shaft. The workings of the O’Brien Mine and the Castle No.1 Mine are interconnected. These claims fill gaps within Canada Cobalt’s mining lease fabric making exploration of these isolated claims more practical.
In August 2011, Castle Silver Resources, (now Canada Cobalt Works) entered into a Memorandum of Understanding (MOU) with the Matachewan First Nation in connection with exploration and development of the Castle cobalt silver mine property. The MOU between Castle Silver and the Matachewan First Nation remains in force with Canada Cobalt and outlines agreed upon terms that delineate each party’s mutual respect for the land. The agreement also provides a framework for an environmentally responsible approach to future exploration on the First Nation’s traditional territory.
The agreement remains in effect until such time as Canada Cobalt and the Matachewan First Nations’ enter into an Impact Benefit Agreement.
A National Instruments 43-101 Technical Report on the Castle Mine Property was published in 2015 and can be viewed under the investors tab of this site.