Silver's Deficit Decade Has Investors Hunting Grade — and One Cobalt Camp Junior Just Pulled 61,389 g/t Over 0.30 Metres
Issued on behalf of Nord Precious Metals Mining Inc.
A direct extension of the Robinson high-grade silver vein system — plus a brand-new native silver intercept — deepens the case that the historic Cobalt-Gowganda district still has world-class grade left to give.
COBALT, Ontario, June 04, 2026 (GLOBE NEWSWIRE) -- Canada News Group News Commentary — Silver spent the last decade as the metal investors loved to forget. That is no longer true. With the metal trading in the mid-$70s — off its January record but still near multi-decade highs — and the Silver Institute pointing to a sixth consecutive annual supply deficit, the market has rediscovered an old question with new urgency: where do the next high-grade ounces actually come from? Increasingly, the answer is pulling capital back toward the places that built the silver industry in the first place — and few places carry more pedigree than the Cobalt-Gowganda district of northern Ontario.
That backdrop frames the latest from Nord Precious Metals Mining Inc. (TSXV:NTH) (OTCQB:CCWOF) (FSE: QN3), which has reported analytical results from two wedge holes — CS-21-73W1 and CS-21-73W2 — at its Castle East project, alongside a fresh, as-yet-unassayed silver-cobalt intercept in a third wedge, CS-21-73W3. The headline number is the kind that stops a scroll: a 0.30-metre interval in CS-21-73W1 grading 61,389 g/t silver, or roughly 1,790.8 ounces per ton, sitting inside a broader 6.65-metre envelope that averaged 2,848 g/t silver (83.1 oz/ton) from 498.80 to 505.45 metres downhole.
To put 61,389 g/t in perspective: most primary silver mines globally are built on grades measured in the low hundreds of grams per tonne. Castle East just returned a number two orders of magnitude higher over a tight interval — the signature of the native silver and five-element vein systems that made this camp legendary a century ago. The intercept is located roughly 10 metres updip of its mother hole, CS-21-73, making it a direct extension of the Robinson high-grade silver vein system rather than an isolated curiosity.
Reading the Wedge Holes
The wedge-drilling approach Nord is using at Castle East is worth understanding, because it explains how a single mother hole can keep generating discovery. Wedges are secondary holes deviated off a parent borehole at depth, letting the drill probe slightly different positions within the same structural target without re-collaring from surface. Wedge 1 was set at 329.25 metres downhole and cut a 7-centimetre true-width vein at 501.9 metres. Wedge 2 was set at 201.8 metres downhole and intersected a 2.5-centimetre true-width vein at 496.9 metres, returning 242 g/t silver over 4.30 metres including a higher-grade 0.30-metre sample of 3,452 g/t silver. The reported intervals are downhole core lengths; the true widths are narrow, as is characteristic of these veins, but the grades they carry are exceptional.
The vein itself is more than a silver story. It hosts meaningful cobalt — the 0.30-metre bonanza interval also returned 2.44% cobalt — along with anomalous nickel, copper and gold. Silver remains the principal commodity at Castle East, but the consistent presence of these critical minerals alongside the silver is exactly what the textbook five-element (Ag-Co-Ni-As-Bi) assemblage of the Cobalt-Gowganda district predicts. Management has been clear that those metals could contribute to future project economics rather than simply riding along as a geological footnote.
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A New Intercept Extends the System Further
The third wedge, CS-21-73W3, may matter most for the longer arc of the story. Designed to test where two distinct silver veins intersect, it cut mineralization roughly 25 metres updip and southward of CS-21-73W1, extending the known vein system into ground the company had not previously drilled. At 480.8 metres downhole, the drill hit a 5-centimetre true-width vein of native silver with a dendritic texture, accompanied by cobalt arsenide mineralization in a calcite matrix — with the silver and cobalt uniformly distributed through the vein, and fine native-silver stringers running adjacent and perpendicular to it.
Additional mineralized intervals were logged between 465 and 504 metres, with carbonate veins carrying mostly cobalt arsenide at varying concentrations, and minor carbonate veins at 439.0 and 504.35 metres each carrying silver alongside cobalt. Assays for CS-21-73W3 are still pending, so the grades are not yet known. But the visual and structural evidence points to silver-cobalt mineralization persisting over a meaningful vertical range — the W3 intercept sits about 25 and 22 metres above the W1 and W2 intercepts respectively — and to the structure remaining open along strike. In exploration terms, "open" is the most valuable word on the page.
The Bigger Program Behind the Numbers
These results are not one-off flourishes; they are checkpoints in a much larger campaign. The current 5,000-metre phase announced in May is part of a broader 30,000-metre program at the enlarged Castle-Gowganda property. Phase I, at roughly 3,500 metres, did the unglamorous but essential work of validating the structural model that Ronacher McKenzie Geoscience built from 75,000 metres of historical data — a model that flagged as many as 29 discrete vein targets. The remaining holes are designed to keep testing those modelled structures, grow the known zones, define the critical-mineral endowment traveling with the silver, and set up underground access for eventual bulk sampling at the company's permitted high-grade mill in Cobalt.
"These assays confirm what the core showed us in February: Castle East continues to deliver significantly strong silver values in the style that defined this district, with high-grade silver over 0.30 metres inside a 6.65-metre mineralized envelope and critical minerals carried right alongside it," stated Frank J. Basa, P.Eng., President and CEO. He noted that with Nord now holding title to all the area mining leases following its recent acquisition, the company can finally test structures that could not be drilled under fragmented ownership — pointing out that just one of the past-producing mines acquired produced approximately 40 million ounces of silver and still carries further high-grade discovery potential under the current exploration model. Every metre drilled, he added, feeds directly into a planned resource update and, in turn, a future production plan.
That last point is the connective tissue of the Nord thesis. The company already operates TTL Laboratories, the only permitted high-grade milling facility in the historic Cobalt Camp, and its Re-2Ox hydrometallurgical process — validated at pilot scale through SGS Lakefield — is designed to strip the arsenic barrier out of complex silver-cobalt ores while producing technical-grade cobalt sulphate to customer specification. In other words, Nord is positioning the discovery, the processing and the critical-minerals recovery as one integrated chain rather than three separate problems.
Where Nord Sits Among Its Peers
Nord is far from the only junior chasing high-grade silver into 2026, and the comparison set helps frame both the opportunity and the competition for capital. A handful of names stand out for investors building a watchlist around the theme.
Brixton Metals Corporation (TSXV:BBB) (OTCQX:BBBXF) is arguably Nord's closest geographic analogue. Its wholly owned Langis Silver Project sits in the very same Cobalt Camp, hosting native silver in the same calcite-cobaltite-niccolite vein style. Brixton is fully funded from a recently closed financing and has been drilling aggressively — reporting, among other results, 13.0 metres of 594 g/t silver including a 0.5-metre sample of 7,900 g/t — with a stated exploration target of 400 to 800 g/t silver over one to two million tonnes and a goal of a minimum 60,000 metres of drilling at Langis this year as it works toward a maiden resource. For investors who believe the Cobalt Camp is being rerated as a district, Brixton and Nord are two ways to play the same thesis.
Dolly Varden Silver Corporation (TSXV:DV) (NYSE:DVS) offers a contrast in geology and scale. Its Kitsault Valley project in British Columbia's Golden Triangle has delivered wide, high-grade silver-gold intervals from the Wolf Vein and Homestake Silver deposits — including intercepts such as 1,422 g/t silver over 21.70 metres — over potentially bulk-mineable widths. Notably, Dolly Varden agreed in late 2025 to be acquired by Contango Ore to create a larger silver-and-gold producer, a reminder that high-grade silver assets are once again attracting corporate buyers, not just retail speculation. It is a useful benchmark for the kind of grade-times-width continuity the market is willing to pay up for.
Vizsla Silver Corp. (TSX:VZLA) (NYSE:VZLA) represents the larger, more advanced end of the high-grade silver spectrum. Its 100%-owned Panuco silver-gold project in Mexico is a district-scale system that, following a feasibility study completed in late 2025, is now advancing toward construction — with engineering and mine-design contracts awarded and project financing being put in place. Vizsla's scale and the valuation it commands illustrate the kind of re-rating that can accrue to a primary silver story once the market is convinced of continuity and size — the destination many earlier-stage explorers, Nord included, are working toward.
Kuya Silver Corporation (CSE:KUYA) (OTCQB:KUYAF) rounds out the set as another silver name with a Cobalt-district footprint. Its Silver Kings project covers roughly 13,000 hectares near Cobalt and the Silver Centre camp, while in Peru the company is generating revenue from its Bethania silver mine as it ramps production toward a Phase 1 target of 350 tonnes per day. Kuya's presence underscores a broader point: capital and corporate attention are flowing back into the Cobalt Camp specifically, validating the geological premise that drew Nord to consolidate the ground in the first place. When multiple credible operators converge on the same historic district, it usually signals that the market has decided the camp is worth a fresh look.
None of this makes any single name a sure thing — these are early-stage exploration stories, and exploration is, by definition, uncertain. But the cluster matters. A district that can simultaneously support Nord, Brixton and Kuya, while names like Dolly Varden and Vizsla command premium valuations elsewhere, is a district the market is taking seriously again.
The Resource Foundation — and the Catalysts Ahead
It is worth being precise about what Nord already has on paper. The Castle East Robinson Zone carries a historic Inferred resource of 7.56 million ounces of silver grading an average of 8,582 g/t Ag (250.2 oz/ton) across 27,400 tonnes from two sections, beginning at roughly 400 metres vertical depth, per a NI 43-101 technical report with an effective date of May 28, 2020. That estimate is now considered historical; it has not been verified as a current mineral resource, and significant additional drilling, sampling and modelling is required before a new estimate can be compiled. Separately, the newly acquired leases host a historical indicated tailings resource of approximately 1,940,000 tonnes grading 47.5 g/t Ag for roughly 2,960,000 contained ounces of silver, per GeoVector Management's 2011 work. Mineral resources that are not mineral reserves do not have demonstrated economic viability, and neither historical estimate should be treated as current.
What the current drilling is doing is feeding the eventual update of those numbers. With assays still pending on CS-21-73W3, additional holes planned, and the structural model continuing to guide the bit toward the most prospective of its 29 targets, the near-term catalyst path is straightforward: more results, against a silver price that has rewarded grade like it has not in years. The company also maintains a strategic critical-minerals portfolio in Quebec through a 35% interest in Coniagas Battery Metals (TSXV:COS) and the St. Denis-Sangster lithium project near Cochrane, Ontario — optionality that sits beneath the primary Castle East story.
For a market hunting the next high-grade silver ounces, Nord's pitch is unusually literal: a permitted mill, a consolidated land position over some of the most productive silver mines in the camp's history, a validated structural model with dozens of untested targets, and drill holes that keep returning grades the rest of the industry can only dream about. The 61,389 g/t headline will fade from the feed within days. The question it raises — how much more of that is down there — is the one the next several holes are built to answer.
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CONTACT
Canada News Group
Email: info@canadanewsgroup.com
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SOURCES
[1] Nord Precious Metals Mining Inc., news release, June 2, 2026 (GlobeNewswire syndication); company release at https://www.nordpreciousmetals.com/
[2] Nord Precious Metals Mining Inc., "2,343 g/t (68 oz/ton) High-Grade Silver …," May 4, 2026: nordpreciousmetals.com
[3] Brixton Metals Corporation, Langis Silver Project drill results, 2026
[4] Dolly Varden Silver Corporation, Wolf Vein drilling results
[5] Vizsla Silver Corp. / Brixton Metals corporate profiles
[6] Kuya Silver Corporation, Q1 2026 Bethania production update and Silver Kings (Ontario) project
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