Vancouver, BC.: CMC Metals Ltd. – (“the Company”) (TSX-V: CMB) is pleased to announce assay results from recent soil sampling on two new zones, the KW and South zones, at the Company’s 100% owned Silver Hart Project in Yukon, Canada.
Michael Scholz, Chairman of the Company noted, “Our previous announcement indicated mineralization had been identified in the KW zone. The potential of the KW zone and the South Zone has been further verified from soil sampling and both zones remain open for expansion. The review of historic geophysical data also identified two additional zones. We are now planning to further evaluate all of these zones in 2020 as a part of our overall strategy to truly identify the significant potential of our Silver Hart property.”
Two soil grids were established to the west and south of the Main CMC Zone based on a historic VLF-EM geophysical survey conducted in 1999.
Key highlights from recent soil sampling in the KW Zone are as follows:
- From a total of 118 samples, 7 were anomalous in silver with two samples with 1019 and 1360 ppb, 2 anomalous samples of zinc with a highest value of 357.7 ppm, and 3 anomalous samples of lead with a highest value of 173.2 ppm
Key highlights from recent soil sampling in the KW Zone are as follows:
- From a total of 50 samples, 13 were anomalous in silver with one samples grading 6,490 ppb silver with 528.1 ppm zinc and 427.5 ppm lead. In addition soils produced 15 anomalous samples of zinc with a highest value of 533.2 ppm, and 4 anomalous samples of lead with a highest value of 427.5 ppm
(Note: anomalous levels were considered to be assays from soils collected with greater or equal to 500ppb silver, 200 ppm zinc and 50 ppm zinc).
Kevin Brewer, President and CEO notes, “When we started to review the historic exploration data we found a map of the results from a VLF-EM survey that identified potentially anomalous areas to the west and south of the Main Zone. We prospected these areas and identified mineralization in the KW zone and rusty outcrops in the South Zone prompting us to conduct an initial soil sampling effort. With our short program in 2019 we only had 4 days of soil sampling. But we are very encouraged from this initial work as it has served to confirm the potential of soil sampling to identify new zones. Further examination of the geophysics data has also served to identify two new additional zones and areas of prospectivity both within the Main Zone and to the south. We will be focussing our future efforts on confirming the potential of these new areas as they can add significant resources to the project.”
Kevin Brewer added, “The soil survey on the KW zone confirmed the possible strike length of the zone to be approximately 1.2 kilometers, proximal and likely associated with a major fault, with anomalous soils coincident with the VLF-EM anomaly, and the zone remaining open in all directions. The anomalous soils on the South Zone were also coincident with the VLF-EM anomaly and that zone also remains open to both the southeast and southwest. The silver values in the soil in a majority of the samples were also found to be coincident with anomalous values of lead and zinc, along with other elements such as bismuth and manganese. We would expect zones to be anomalous in manganese as all of our existing deposits are capped with manganese. Future exploration efforts will include additional soil sampling, trenching in the areas of identified anomalies, and ground geophysics to pinpoint drill targets and new possible zones at Silver Hart. The size of both of these targets is quite attractive and we are hopeful that they will result in a significant resource expansion through our proposed future exploration efforts.”
Assays were completed by Bureau Veritas Mineral Laboratories Canada Ltd. and quality control and sampling supervision at Silver Hart was provided by Longford Exploration Services Ltd. of Vancouver, B.C. who are a fully independent geological consulting company.
Kevin Brewer, a registered professional geoscientist, is the Company’s President and CEO, and Qualified Person (as defined by National Instrument 43-101) who has directly supervised the 2019 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 the United States and Canada that offers 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.
On behalf of the Board:
“Michael C. Scholz” __
Michael C. Scholz, Director
CMC METALS LTD.
For more information and to be added to CMC’s news distribution list, please send an email to firstname.lastname@example.org or call Mr. Michael C. Scholz at 604-605-0166.
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“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.”