Vancouver, BC.: CMC Metals Ltd. – (“the Company”) (TSX-V: CMB) is pleased to announce assay results from recent channel sampling across the waste pile and a channel sample in the TM pit Zone at the Company’s 100% owned Silver Hart Project in Yukon, Canada.
Michael Scholz, Chairman of the Company noted, “Our previous announcement indicated significant high grade silver-lead-zinc mineralization had been identified in three trenches in the central to northern portion of the proposed TM Pit. This channel in the southern section of the pit further indicates that mineralization in this area is extensive, extends into the footwall of the zone and potentially has a great lateral extent than previously known.”
Mr. Scholz added, “Identifying high grade mineralization in the waste pile area will potentially provide us with a lot of material that is ready to bag and sell into the market. This is expected to help us fund future exploration efforts at Silver Hart. Furthermore, it indicates to us that as this material came from the historic adit we need to take a closer look at that work to further expand our knowledge of the Main Zone at Silver Hart.”
Key Highlights from the Channel Samples included:
TM Pit – Main Zone: 26 meters grading 258.6 g/t silver 10.16% zinc and 6,189.6 ppm lead including 15 meters grading 366.9 g/t silver, 16.74% lead and 13.15% zinc.
Waste Pit – Channels: 60 meters of sampling graded 565.6 g/t silver and 4.59% zinc, including 22 meters of lead greater than 10,000ppm with values ranging from 2-19.09%.
Kevin Brewer, President and CEO notes, “When I started to walk around the Silver Hart site it was obvious to me that there was a lot of mineralized material throughout what is deemed as the ‘waste pile’ area. This material came from the former adits. We focussed on sampling the larger pile but there is a lot more material in the area of unknown thickness and areal extent. This is very exciting for us as what was initially considered as waste is potentially high grade material that may be economic to bag and transport to market. I will be focussing early field work in the 2020 season on evaluating all of that material in the waste pile area through a test pitting program to determine the thickness, grade and tonnage of the entire waste pile. If the mineralization is similar to that of results we achieved this season we will then send it to market.”
Brewer added, “The additional positive results from our fourth sampling of the footwall material across the TM zone are exciting. These samples are from an area immediately proximal to where CMC appears to have removed material in previous bulk samples and did not include the high grade vein zone. The material was limited to the footwall area of the deposit. Therefore this continues to confirm my thesis that material in the footwall is potentially of sufficient grade and width to be surface mined along with the high grade silver vein in the TM Main Zone over widths in excess of 10 meters.”
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 email@example.com or call Mr. Michael C. Scholz at 604-605-0166.
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.”