Castle Silver Resources Inc. is a Canada-based junior natural resource company focused on the exploration and redevelopment of its 3,300-hectare Castle Silver Mine Property. The Castle Mine, which produced more than 9.5 million oz of silver and 300,000 lbs cobalt when it operated in the 1900s, is located in the Cobalt Camp in northern Ontario. The mine was one of the highest-grade silver mines in the Camp. It was last operated by Agnico Eagle and closed in 1989 due to low silver prices (US$6/oz). The main focus in the Camp at the time was finding and mining high-grade silver veins. Low-grade silver veins were largely ignored, even if they had high-grade cobalt.
The Company has conducted a geophysical survey and drilling on the property and has intersected high grades of up to 6,476 g/t silver and 1.44% cobalt. In addition, recent bulk samples from underground Level 1 have tested 1.48% cobalt, 5.7 g/t gold, 46.3 g/t silver and produced a 14.8% cobalt concentrate. A proprietary Re-2OX hydrometallurgical process is being applied to bulk-sample concentrate to produce cobalt salts powders for evaluation by potential buyers in the battery sector. The process is also being tested for recovery of cobalt and lithium from used lithium-ion batteries at SGS Laboratory in Lakefield, Ontario. The Company's other properties in the Cobalt Camp include Beaver Silver Cobalt Property and Violet Silver Cobalt Property.
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