Nord Precious Metals Prepares for Recovery Permits and Plans for Future Operations at Castle Mine
August 6, 2024 - Coquitlam, BC, Nord Precious Metals Mining Inc., (TSXV: NTH) (OTCQB: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Nord" or "Nord Precious Metals"), is pleased to announce its continued correspondence with the Ontario Ministry of Mines regarding the progress of recovery permits essential for advancing its operations at the Castle Mine site. While the government finalizes the details, Nord is proactively preparing for the permit rollout, positioning the Company to enhance its operations and sustainability initiatives effectively. One of Nord's strategic objectives is to process tailings from previous mine operations at the Castle Mine with waste material put underground instead of left at the surface, and utilize backfilling techniques underground to improve the stability of the historic crown pillar. This approach not only enhances the structural integrity of the site but also aligns with Nord's commitment to environmentally responsible mining practices.
In addition, Nord aims to recover broken mineralized material left in the historic stopes for processing at the TTL facility. This material is expected to contain cobalt and silver grades similar to those found in the waste pile outside the mine. By recovering these valuable resources, Nord is optimizing its resource utilization and contributing to sustainable mining practices.
From the historic waste pile, Nord had successfully poured a 1,000-ounce silver bar and produced a high-grade cobalt-nickel gravity concentrate. This concentrate was further processed to produce cobalt sulfate for the Asian market at SGS Lakefield, showcasing Nord's expertise in generating value-added products from its mining operations.
In addition to its recovery efforts, Nord is advancing the ramp design at Castle East, incorporating new drill results near the Capitol Mine. These enhancements are part of Nord's ongoing efforts to optimize its exploration and development activities, ensuring efficient and effective resource extraction.
"We are committed to advancing our operations at the Castle Mine responsibly and sustainably," said Frank Basa P.Eng., CEO at Nord Precious Metals. "Our focus on recovery and optimization aligns with our strategic goals of maximizing resource utilization while prioritizing environmental stewardship."
Nord Precious Metals remains dedicated to leveraging its expertise and strategic resources to drive value for its stakeholders and contribute to the sustainable development of the mining industry.
Qualified Person
The technical information in this news release was approved by and prepared under the supervision of Matthew Halliday, P.Geo., (PGO), President and COO Nord Precious Metals., a qualified person in accordance with National Instrument 43-101.
About Nord Precious Metals Mining Inc.
Nord Precious Metals Mining Inc. (formerly Canada Silver Cobalt Works Inc.) recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000 m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.
In May 2020, based on a small initial drill program, the Company published the region's first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-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 vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves and do not have demonstrated economic viability. Please refer to the Nord Precious Metals (previously Canada Silver Cobalt Works) Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.
The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed a nearly 16,000-metre drill program on the Graal property; and (2) St. Denis-Sangster lithium project - 260 square kilometers of greenfield exploration ground with numerous pegmatites focussed along a significant volcanic sedimentary rock - Archean granite contact near Cochrane, Ontario contiguous to Power Metals' Case Lake Lithium properties.
Nord Precious Metal's flagship silver-cobalt Castle mine and 78 sq. km Castle property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Nord Precious Metals is strategically positioned to become a Canadian leader in the silver-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-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.
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