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Monthly Update from the CEO

August Monthly Update

August 2020

Hello Investors:

The fall colours are now starting to develop in the Yukon mountains and we are working diligently to complete the proposed work program for this year. The results this year have been very pleasing to us. It seems like everywhere we investigated the potential for additional mineralization, we are finding positive indications that there are new resources to be found. 

As recently announced, we have started the geophysical program. This collection of data is very important to us in two parts of the property, the KW Zone and the possible northern extensions of the Main Zone and the South Zone. This data combined with the previous geophysical work dating back to 2005, will help us understand a number of things including:

  • The possible extent of mineralization at depth – we have only ever drilled to a maximum extent of approximately 100 meters and even then only in a few select locations within the Main Zone so there is considerable potential to add resources deeper into the system;
  • The possible existence of mineralization within altered limestones at the upper part of the system where there is potential for carbonate replacement style deposits versus the vein style which has been the focus of exploration in the past. In our trenches in the northern part of the property we are seeing positive signs of carbonate replacement style deposits and the geophysics will help pinpoint target areas for us to further examine with drilling.

The other area of the property is in the far south of the claims where we announced some very high silver in soil anomalies. This is a rugged part of the property being on the steep slopes of the valley. However, we have mobilized equipment into that region and are close to reaching the target area and will commence trenching in that area very soon. Trenching is a very economic way of gathering information on the geology of the property as well as uncovering possible mineralization.

In this area we are also collecting more soil geochemical sampling and we look forward to seeing those results in the coming weeks. Assay labs are extremely busy and so we will all have to be patient to await results. However, we do our best to announce results as soon as we receive them.

An important part of our work this year will be updating a mineral resource on the Main Zone which will be completed in the last quarter. I see this as a signal of the potential for the property as it will provide us with a glimpse of the resource and exploration potential at Silver Hart that has never been properly addressed. This analysis of the Main Zone has been possible from our efforts to integrate all of the historical data into a 3D Leapfrog model. The benefits of this modelling will continue into the future as combined with the new geophysical data it can also help us generate meaningful drill targets for the 2021 season. 

Lastly we continue to advance engineering, environmental and engineering studies. Material has bene prepared for barrel testing to examine acid rock drainage and metal leaching issues (ARD/ML) which is a critical component towards addressing questions in permitting. We are also collecting material for metallurgical testing. Our environmental consultant is conducting further fisheries investigations and studying water quality from site drainages. We are continuing engineering studies of the bridges on the access road. And finally Yukon Highways has signalled to us that they should be commencing upgrading of the initial 10-15km of the access road in September.

Please feel free to contact me at anytime should you have any further questions or visit our CEO Corner on our website at

Until September best wishes.

Kevin Brewer, P.Geo, MBA, B.Sc (Hons), Dip. Eng.

President and CEO

CMC Metals Ltd.

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