Vancouver, BC.: CMC Metals Ltd. - (the “Company”) (TSX-V: CMB) is pleased to announce the commencement of the geophysical program at the Company’s 100% owned Silver Hart Project in Yukon, Canada.
The geophysical crew have started the Induced Polarization (IP) Survey that will cover two main areas of the property, namely the KW zone and northeast of the Main Zone. Prior to the field program, the Company’s geophysical consultant, Dr. Chris Hale completed physical property measurements on a suite of representative samples from all of the known geological units and several of the mineralized areas in the Main Zone. Dr. Hale completed the measures using a GDD Sample Core IP system and a GDD Multi-parameter Probe. From this work Dr. Hale noted, “We recommend that IP/RES Surveys be carried out to identify the target characteristics of the known mineralization.”
Upon completion of the IP survey, a magnetometer survey will also be conducted in select areas of the property. Once the data is processed the Company then plans to combine the 2005 and 2020 geophysical data sets into a master database and then use an inverse modelling program to generate a 3D model of the mineralization to assist in future drilling.
John Bossio, Chairman, noted, “This work will provide us with a clear vision of the structure and strength of the anomalies associated with the known and prospective mineralization at Silver Hart.”
In addition, the Company has been informed by the Yukon Department of Highways and Public Works that the upgrading program of the access road should commence in the next couple of weeks. The Company’s engineering consultant Associated Engineering in Whitehorse, Yukon is also completing a site assessment of the creek crossings and bridge structures this week. This work will lead to final plans and designs of bridges that are suited for ore hauling and other commercial traffic.
Kevin Brewer, a registered professional geoscientist, is the Company’s President and CEO, and Qualified Person (as defined by National Instrument 43-101). He is directly supervising in the field the 2020 exploration program, sampling efforts, quality assurance and quality controls, and the preparation of an approval of the technical information pertaining to the Silver Hart Project, Yukon reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
About CMC Metals.
CMC Metals Ltd. is a mineral exploration company focused on opportunities in North America that offer potential for near-term cash flow. The Company is led by a seasoned team with experience developing assets to production. The Company’s Silver Hart Property is a Silver-Lead-Zinc asset located in the Yukon, 132 km west of Watson Lake, and covers 2,200 hectares and 116 contiguous and partial claims. The neighboring Blue Heaven Property covers 1,975 hectares and 118 contiguous and partial claims.
On behalf of the Board:
John Bossio __
John Bossio, Chairman
CMC METALS LTD.
Neither the TSX Venture Exchange nor its Regulation Services 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 includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company’s filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.”