PROGRESSIVE DEVELOPMENT OF PRECIOUS METALS
CMC Metals Ltd. is focused on providing sustainable growth and value to the shareholders through progressive development of precious metal properties to production phase.
DEVELOPING MINERAL PROPERTIES FOR PRODUCTION
CMC Metals Ltd has a focus on near term cash flow opportunities. The company is led by a seasoned team with experience in developing assets for production. CMC is interested in advanced stage projects with strong potential for rapid track development to cash flow. The cash flow focus provides us with a dilution resistant platform to create value for stakeholders. The company is presently focused on opportunities in California and the Yukon.
The Company’s principal assets are located in California, USA and in the southern Yukon. The focus of these assets is the potential to support lower capital, “higher” grade mineral definition and development programs.
EXPERIENCED STRONG MANAGEMENT TEAM
CMC Metals Ltd. has over 100 years of experience on the board. Bringing a unique contribution to ensure that the properties, capital, and labour resources are utilized efficiently.
CMC holds a 50 percent interest in the Radcliff (a.k.a. ‘World Beater mine’) property with the remaining interest held by Pruett Ballarat Inc. (“PBI”). The property is located some 9 miles (14 km) north of the Briggs gold mine in the West-Central portion of the Panamint Range, Inyo County in South Western California: Death Valley lies in the valley immediately east of the Panamint range.
The Radcliff property extends over 1,654 acres (670 Ha) and consists of 10 patented mining claims, one patented mill site claim, 84 unpatented mining claims, and five unpatented mill sites, water claims and water rights known as the Stone Corral Water Claims.
Plans for the Radcliff Mine for 2017 include the continued evaluation of the area adjacent to the 5510-level adit development zone, extending from an area in which CMC and PBI have conducted some bulk sampling in 2016. During that year the companies entered into an agreement with Klondex Mines’ Midas Mill to process up to 6,000 tons of batched bulk sample material: an initial batch of approximately 500 US short tons (approx. 454 tonnes) is presently awaiting processing.
CMC holds a 100 percent interest in the Silver Hart Property located 132 kilometers west of Watson Lake and encompasses 2174.06 Ha of 116 contiguous full and partial mineral claims in the Watson Lake Mining District located in south-central Yukon, Canada. The property is located some 43km N of the Alaska Highway: it has been accessible via a seasonal access road and is adjacent to grid-connected power lines.
Historic work by CMC and its precursors has identified mineralization in least seven (7) zones of mineralization. Historically some 673 meters of underground workings, 20 trenches and over 8,000 meters of drilling have been completed. The company has spent some C$7M on exploration and a substantial camp has been established. Less than 7 percent of the area comprising the CMC claims have been explored, leaving potential for further discovery.
The company successfully extracted three bulk samples from 2011-2013 – each was crushed and flotation processed to concentrate at a mobile plant owned by the Company and located off site. The Company extracted the first 130.8 dry tonne bulk sample grading 4,568 grams per tonne silver (133.2 ounces per tonne) and 19.6 percent lead and received $445,000 (USD) for the product. During the 2012 fiscal year, the Company dispatched a second bulk sample of 114.1 dry tonnes and received $311,401 (USD). A third shipment of 268.6 dry tonnes was shipped in April, 2013 and the Company received $205,885 (USD). There has been no further activity since 2013, though the Company had applied for certain operating permits: these were not granted and the Company ceased activity owing to constrained equity markets and permitting delays.
The Company has been charged (2017) in the Yukon Territorial Court with offences under the Yukon Quartz Mining Act for failure to complete site reclamation at the Silver Hart Property in accordance with the operating plan before the expiry of the previous Mining Land Use Approval for the property. The reclamation relates to camp facilities and roads that will be utilized pursuant to a permit for a new exploration program sought by the Company. The Company has obtained legal advice and is considering its options in defending the charges and pursuing its applications to the Yukon Socio-Economic Assessment Board and Mineral Resources Branch to issues permits for an ongoing exploration program.
CMC Metals purchased 100 percent ownership of a 50 ton per day mill located in Bishop, California. The mill was constructed by Mammoth Mountain Mining in 1985 and is connected to grid power and is located one mile from a paved highway outside Bishop CA. To provide an initial mineralized material supply the mill, the company identified the Radcliff deposit and has acquired its 50 % interest from PBI.
The mill is being prepared for operations and the Company is identifying further potential sources of mineral supply. The Company intends to use the mill to gain participation interests in regional gold development opportunities.