November 25, 2024 (Source) — Nord Precious Metals Mining Inc., (TSXV: NTH) (OTCQB: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Nord” or “Nord Precious Metals”), Is pleased to provide a planned program for the gravity concentration of the Miller Creek High Grade Silver Tailings and Recovery Permit Requirements.
Frank J. Basa, President and CEO, commented, “The Ontario Metals Recovery Permit minimizes the timelines for obtaining conventional mining permits, which historically have been long and challenging for the junior mining industry.” Further adding, “with demonstrated success in our full value mining approach, including silver values of up to 786,809 g/t silver in gravity concentrates, two high-grade silver tailings deposits, and a gravity plant at the ready to process the tailings, Nord has the potential to be revenue generating in the near term. This represents a transformative opportunity to create value from legacy mining sites while supporting Ontario’s critical minerals strategy.”
Recovery Permits Requirements Highlights:
- A Recovery and Remediation” plan is required to describe the project and set out how the land would be remediated
- Amendments under Part VII “Recovery and Remediation” of the Ontario Mining Act, whereby proponents would not be required to file a closure planto undertake the proposed recovery of minerals.
- Amendments tentatively to be proclaimed to the Mining Act mid-2025.
Value Creation Opportunity:
The Company’s full value mining strategy targets multiple revenue streams through the recovery of precious and critical minerals from historical waste streams. As highlighted in the Building More Mines Act (Bill 71, May 2023), Ontario has modernized its approach to mine waste reprocessing, specifically through section 152.1 which establishes a streamlined permitting process for tailings recovery projects. This legislative change positions Nord to potentially expand beyond the Gowganda district into the broader Cobalt Camp, where numerous historical tailings deposits await similar transformation. Our Miller Creek project, with demonstrated silver grades averaging 282 g/t silver in calculated head grades, serves as a proof of concept that could unlock value from legacy mining districts globally.
Planned Processing Program:
The company plans to fly the open stopes by the use of drones to map out the size and extent of the openings on the first level. Stope volume determinations and stockpiled broken mineralization from historic mining will be calculated. Using our proven two-stage gravity-flotation process, initial testing has achieved silver recoveries up to 70 percent with concentrate grades reaching 18,486 g/t silver A recovery plan will be first undertaken of the mineralized waste rock followed by backfill of the first level and stopes with processed tailings.
Qualified person
The technical information in this news release was approved and prepared under the supervision of Mr. Frank J. Basa, B.Eng., (PEO), director of Nord Precious Metals, a qualified person 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 recently spun out to Coniagas Battery Metals Inc. of which Nord owns 35%; 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
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.
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