Toronto, August 10, 2017 -
Canadian Silver Hunter Inc. (TSXV: AGH) (Canadian Silver Hunter" or the "Company") is pleased to report that
First Cobalt Corp. (FCC) has commenced drilling at the former producing Keeley-Frontier mine, near Cobalt, Ont. A total of 7,000 metres are planned at Keeley-Frontier, as well as some nearby targets on the adjoining exploration claims.
Highlights:
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Initial drill program of 7,000 based on a 3-D geological model compiled from historic information and detailed field mapping conducted over the past three months;
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Drill targets over a two-kilometre strike length, including the Haileybury and the Bellellen systems, testing known cobalt-rich areas of the Keeley-Frontier vein system that were not historically mined;
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Drill holes range from 30- to 300-metre depths to establish variable vein orientations and determine the Co-Ni-Ag (cobalt-nickel-silver) grades in the host rocks to the calcite veins;
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Multielement geochemical analyses including Co-Ag-Ni-Bi-Cu (cobalt-silver-nickel-bismuth-copper) will be done, adding to the existing data to determine rock alteration trends which may point to new prospective areas;
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Borehole geophysics will be conducted on select drill holes to identify potential extensions to any mineralizations intersected.
Keeley-Frontier Mine
The Keeley and Frontier mines were originally developed and operated as separate mines and eventually integrated in 1961. From 1908 to 1965, the Keeley-Frontier mine produced a total of over 3.3 million pounds of cobalt at a recovered grade of 0.5 per cent and 19.1 million ounces of silver at a recovered grade of 58 ounces per tonne using these reported production numbers. Most of the production occurred between 1922 and 1931.
The neighbouring towns of Silver Centre and Cobalt, Ont., together called the Cobalt camp, were historically the most prolific cobalt jurisdictions in Canada and the largest silver producers worldwide. It is estimated that from 1904 to 1985 this mining camp produced 50 million pounds of cobalt and 600 million ounces of silver from 70 different mines.
The Silver Centre mining camp was targeted for three main criteria:
| 1. | Keeley-Frontier had the best cobalt-to-silver ratio of all the major historic mines in the camp. Most significantly, silver was the primary economic metal for mine development, yet in 1931 the Frontier mine is reported to have produced more than a half million pounds of cobalt. This suggests there may be other cobalt-rich areas that were not targeted or exploited during mining. |
| 2. | First Cobalt has assembled a much larger land package than previously possible in the Cobalt camp. The Keeley-Frontier mine and First Cobalt's South Lorrain land package together consist of 2,100 hectares (21 square kilometres) of contiguous land, which will then increase significantly upon completion of the mergers with Cobalt One and CobalTech. This will facilitate regional exploration for new cobalt discoveries near the Keeley-Frontier. |
| 3. | The Cobalt camp area had been largely forgotten for more than half a century despite its storied past, with only limited exploration since the 1980s. The opportunity to return to the area with the lens of new mining techniques and geoscience is thus particularly appealing. |
Keeley-Frontier drill program
The drilling program has been designed to test several areas known to be cobalt rich over the two-kilometre strike length of the Keeley-Frontier vein system, including Haileybury and Bellellen. Over 30 drill holes have been planned that range from 30 to 300 m depths to establish variable vein orientations and to determine the Co-Ni-Ag grades in the host rocks to the known Ag-Co calcite veins. Aside from some surface grab samples for validation, very few cobalt grades are known from these areas. To account for this, drill spacing at each area will typically be 25 metres. Based on results, continuity and strike extent of the Co-rich vein systems will be followed up later in this drill program. Drilling began August 8.
Qualified person
Dr. Frank Santaguida, PGeo, vice-president, exploration, for First Cobalt, is the qualified person as defined by National Instrument 43-101, who has reviewed and approved the contents of this news release.
About Canadian Silver Hunter Inc.
Canadian Silver Hunter Inc. is a Canadian exploration company focused on the exploration of silver-cobalt deposits on its 100% owned flagship Keeley Frontier Project. For more information please visit the Canadian Silver Hunter Inc. website at www.canadiansilverhunter.ca.
Shareholders of Canadian Silver Hunter Inc. are reminded to view the filings of First Cobalt Corp. (TSXV: FCC) on www.sedar.com for further information regarding the activity of First Cobalt Corp. with respect to the Keeley Frontier project.
CAUTIONARY STATEMENT: 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. We seek safe Harbor.
Canadian Silver Hunter Inc.
Jeffrey Hunter
President & CEO
(416) 707 4230
info@cshi.ca
www.canadiansilverhunter.ca
