Castle Silver Resources Inc. (TSXV:CSR, OTC: TAKRF, FRANKFURT: 4T9B) (the “Company” or “CSR”) is pleased to announce that ongoing underground sampling has returned high-grade cobalt from additional areas on the first level of the Castle mine near Gowganda, Ontario.

Highlights are as follows (see table below for complete results):

  • 3.1% cobalt in sample CSR-UG-T-2 (mini-bulk)
  • 1.04% cobalt in sample CSR-UG-T-3 (mini-bulk)
  • 2.3% cobalt in sample CSR-17-10 (composite from the two mini-bulk samples)

More samples have been submitted for assaying.

Areas prospective for cobalt mineralization were recently highlighted through XRF analysis of the extensive first level workings at Castle.  Current sampling is designed to gain a better understanding of the grade intensity and distribution in order to prioritize underground drill targets.

Frank Basa, CSR President and CEO, stated: “The cobalt grades we’re encountering underground are extremely encouraging and supports our original thesis that past operators may have left much behind at Castle in their strict focus on mining high-grade silver.

“At a time when Cobalt prices are at new decade highs, CSR’s access to extensive underground workings at the Castle mine puts the company in a unique position in the northern Ontario cobalt region,” Basa concluded.

SAMPLE ID

Sample type

Co

Ag

Au

Ni

%

ppm

g/Mt

%

CSR UG T 2

bulk sample

3.124

21.0

0.11

0.128

CSR UG T 3

bulk sample

1.036

12.7

0.04

0.117

CSR 17 10

composite

2.323

68.7