Vancouver, BC.: CMC Metals Ltd. - (“the Company”) (TSX-V: CMB) is pleased to announce that preliminary trenching results have identified both significant mineralization and appear to indicate a major extension of the South Zone in the Company’s 100% owned Silver Hart Project in Yukon, Canada.
Significant mineralization identified in three trenches, associated with coincident VLF-EM anomalies, and on strike with the South Zone is as follows:
Trenches 1-3 are noted to all be on strike with VLF-EM and soil anomalies identified in previous exploration efforts in an area named the “South Zone”. The possible extension of the South Zone is estimated to be in excess of 600 meters for an overall estimated strike length of approximately 1.2 kilometers (in comparison to date the veins in the Main Zone have been traced for approximately 1.4 kilometers).
Trench 4 is also associated with VLF-EM anomalies and appears to be on strike and have a relationship with the “S” mineralized area in the Main Zone.
Further trenching in this part of the property has been completed. Trenches have been mapped and sampled in detail and results are pending.
Kevin Brewer, President and CEO notes, “Our recent work is indicating the possibility of multiple parallel vein sets in the South Zone and extending eastwards onto the Blue Heaven claims that we optioned earlier this summer. The mineralization in these vein systems is significant with samples containing up to 2,413 g/t silver, over 75% lead and greater than10% zinc. In 22 samples collected, 5 had more than 10% zinc, 8 samples had lead values ranging from 4.69-79.22%, and 9 samples provided silver values ranging from 120-2,413 g/t. The possible areal extent of the South Zone in now comparable to the Main Zone. Furthermore, in the northeastern part of the active exploration area, we are identifying alteration indicative of carbonate replacement deposition in both the northern portions of the Main and South Zones that would be expected in the upper part of these systems. We are studying these extensively as it is now evident that additional high-grade vein and carbonate replacement mineralization both have the potential to add significant resources to the Silver Hart Project. These systems also appear to extend eastwards onto the Blue Heaven property and will be a focus of future exploration efforts.”
In addition, the Company has been informed by the Yukon Department of Highways and Public Works that the upgrading program of the access road has now commenced. The Company’s engineering consultant Associated Engineering in Whitehorse, Yukon has completed a site assessment of the creek crossings and bridge structures. 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, 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.”