COQUITLAM, BC, June 6, 2017 /CNW/ - Castle Silver Resources Inc. (TSX.V: CSR, OTC: TAKRF, FRANKFURT: 4T9B) (the "Company" or "CSR") is pleased to announce that it has started underground extraction at its 100%-owned Castle Silver-Cobalt mine near Gowganda, Ontario, as crews have removed a large sample from a quartz-carbonate vein structure containing visible cobalt on the first level of the mine.
Some of the mineralized material is being submitted for immediate assaying while the remainder will be put through the company's proprietary Re-2OX hydrometallurgical process to produce high purity cobalt powders for battery sector end buyer evaluation. A series of bulk samples will be completed over the next several weeks in conjunction with the start of Phase 1 underground drilling.
Meanwhile, CSR is also using the highly adaptable Re-2OX process for testing recovery of cobalt and lithium from lithium-ion batteries as the Company vigorously pursues exciting opportunities in recycling technology.
A promising first stage of Re-2OX test work on a mixed sample of consumer electronic lithium-ion batteries has been completed by SGS Lakefield and CSR eagerly anticipates reporting results shortly. Re-2OX achieves recovery through stripping the casing, leaching the cathode of the batteries, and forming a high purity precipitate containing the valuable metals.
Claude Duplessis, P.Eng., of Goldminds Geoservices Inc., a geological, environmental and mining consultant, is an independent qualified person in accordance with National Instrument 43-101, and has reviewed and approved the contents of this news release.
About Castle Silver Resources Inc.
Castle Silver Resources Inc. (formerly Takara Resources Inc.) is a TSX Venture-listed junior natural resource company focusing on the exploration and development of past producing silver and cobalt mines in northern Ontario including the Castle Silver-Cobalt Project near Gowganda and the Beaver and Violet mines near Cobalt. Additional information on the Company's properties and strategies related to the battery sector are available by visiting its website at www.CastleSilverResources.com.
"Frank J. Basa"
Frank J. Basa, P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service 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 including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Castle Silver Resources Inc.
For further information: Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144, or Wayne Cheveldayoff, Investor Relations, firstname.lastname@example.org, 416-710-2410