Cobalt Camp Roars Back: Nord Hits 9,510 g/t Silver Amid Global Shortfall

COBALT, Ontario – May 04, 2026 – In the heart of a Canadian mining district legendary for its high-grade silver, a modern explorer is reporting results that echo the camp’s historic bonanza-grade past. Nord Precious Metals Mining Inc. (TSXV: NTH) has announced a spectacular silver intercept from its Castle East project, a discovery that lands squarely in a global market grappling with soaring prices and a persistent supply deficit.

The company reported an assay from drill hole CS-26-129W2 that returned 2,343.70 grams per tonne (g/t) silver over 1.85 metres. Within that section was a staggering 0.30-metre interval grading 9,510 g/t silver—equivalent to 277.6 ounces per ton—alongside a significant 3,460 parts per million (ppm) cobalt. This find is not just a high-grade hit; it’s a validation of a targeted exploration model in one of North America’s most prolific silver regions, coming at a time when silver is trading near $78 per ounce.

“The 9,510 g/t silver result confirms what the core showed us in February: Castle East continues to deliver bonanza-grade silver in the style that defined this district historically,” stated Frank J. Basa, P.Eng., President and CEO of Nord Precious Metals. The discovery reinforces the potential of the Cobalt-Gowganda district to once again become a significant source of high-grade silver as the world searches for new supply.

A Market Starved for Silver

The timing of Nord’s discovery could not be more opportune. According to industry sources like the Silver Institute, the global silver market is projected to face its sixth consecutive year of a supply-demand deficit in 2026, with a shortfall pegged at 46.3 million ounces. This structural imbalance is driven by relentless industrial demand, particularly from the fast-growing solar energy and electric vehicle (EV) sectors, which has outpaced modest growth in mine production. With above-ground inventories being drawn down, the market is increasingly sensitive to new, high-grade discoveries that can offer a clear path to production.

Nord’s Castle East Robinson Zone already boasts a historic Inferred mineral resource of 7.56 million ounces of silver at an average grade of 8,582 g/t, a concentration nearly 27 times the industry average. The latest drill results, along with a newly identified mineralized intercept in a separate hole that extends the known system, suggest the potential for significant resource expansion. The company has now commenced a fully funded 5,000-metre drill program to continue testing its geological models, which have identified up to 29 discrete vein targets across the property.

More Than Just Silver: A Critical Minerals Dual Play

What distinguishes Nord’s discovery from a typical precious metals play is the significant presence of cobalt and other critical minerals. The high-grade silver was found within a broader mineralized envelope containing the five-element vein assemblage—silver, cobalt, nickel, copper, and zinc—that is characteristic of the Cobalt Camp. This makes the project a potential dual-play, exposed to both the precious metals bull market and the burgeoning demand for battery metals.

Cobalt is a crucial component in the lithium-ion batteries that power electric vehicles. With the International Energy Agency projecting a massive expansion of the global EV fleet by 2030, demand for responsibly sourced cobalt is expected to surge, creating significant deficits from 2024 onwards. Nord’s strategic advantage lies in its integrated approach to processing these complex ores. The company operates TTL Laboratories, the only permitted high-grade milling facility in the region, and is advancing its proprietary Re-2Ox hydrometallurgical process.

Validated by the renowned SGS Lakefield facility, Re-2Ox is a closed-loop process designed to efficiently recover metals from complex feeds while neutralizing problematic elements like arsenic, which has historically been a barrier to processing ores from the Cobalt Camp. The process has successfully produced battery-grade cobalt sulfate in pilot-scale tests, demonstrating a potential pathway to transform a historical mining challenge into a modern-day asset and produce valuable by-product credits.

A Blueprint for Growth: Strategy in a Bull Market

Nord’s recent progress is the result of a deliberate, multi-year strategy. The company’s recent consolidation of mining leases in the area was a pivotal move, granting it the ability to drill-test geological structures that were previously inaccessible due to fragmented ownership. The current 30,000-metre drill program is built on a structural model developed from over 75,000 metres of historical data, blending modern exploration science with a rich historical dataset.

This methodical approach is backed by a solid financial footing. Through a series of successful private placements in April 2026, the company raised over $3.4 million, ensuring its 5,000-metre drilling phase is fully funded. This allows for aggressive exploration and steady news flow through the summer, with assays still pending from the new mineralized pierce point at the intersection of two major vein structures.

The leadership team, helmed by CEO Frank J. Basa, a hydrometallurgical engineer with decades of experience, and supported by technical experts like Matthew Halliday, who was instrumental in the initial Castle East discovery, provides a deep well of regional and technical expertise. This combination of strategic land position, technical acumen, proprietary processing technology, and a strong treasury positions Nord as a standout among junior explorers.

This activity occurs as major producers also respond to market dynamics. Pan American Silver reported record production, boosted by its acquisition of the Juanicipio mine, while Endeavour Silver saw output surge following the integration of its Terronera mine. This industry-wide push for growth underscores the urgent need for new discoveries, placing a spotlight on developers like Nord who are successfully hitting high-grade mineralization. With drills turning, assays pending, and a dual-commodity thesis, Nord Precious Metals is poised for a news-heavy summer as it works to awaken a sleeping giant in Canadian mining history.