Vancouver, BC.: CMC Metals Ltd. – (“the Company”) (TSX-V: CMB): is pleased to announce the results of a successful drill program that resulted in significant intersections of silver-zinc-lead mineralization and also extended two mineralized zones within the main zone at its Silver Hart Property, Yukon. The Silver Hart Property is located approximately 132 km west of Watson Lake, and covers 2,200 hectares with 116 contiguous full and partial claims.
CMC conducted a 16 hole (1,048 meter) drill program this year at Silver Hart. The program was designed to further test known mineralized zones within the main zone structure and possible extensions of those zones.
Key highlights from the drilling program are as follows:
Note: True widths may vary 5-15% from widths noted due to angle of interception.
Drilling focused on the TM and S zones which are slated as the deposits most likely suited for a proposed bulk sample test in 2020 followed in subsequent years with seasonal open pit mine development.
Kevin Brewer, President and CEO noted “We were particularly pleased to see the continuation of high grade intersections with over 900 g/t silver in holes 19-01 and 19-02 at depths. From past and current drilling results there is a continuity of high grade mineralization from surface to the projected bottom of the possible open pitting of the TM zone. In addition, we were also highly encouraged with the results from holes 19-05 and 19-06 in the southern portion of the S zone where grades of silver exceeded 1100 g/t along with 4.25-11.38% lead and 8.61-13.48% zinc. In both zones we are also observing an increase in zinc grades at depth. Where we did not intersect significant mineralization, we gained knowledge of the extent of the known zones and also filled gaps in areas previously untested. That is helping us to develop a greater understanding of the mineralizing system. Our future plans will include examining past drill core to identify possible zonation of the alteration in these deposits. We also intend to re-log and conduct additional assaying where it is warranted to fully examine the potential for increased widths of mineable material in the identified zones that we can then integrate into our deposit model and mine planning.”
Overall high grade silver-lead-zinc mineralization has been identified in the TM and S zones of the main zone for a strike length in excess of 500 meters and remains open to the southwest and at depth. These deposits remain unexplored at depths below 85 meters and therefore have considerable potential for further resource expansion.
The drilling also served to identify extensions of the TM and S zones in the main zone. Hole 19-04 indicated an extension of the TM zone of at least 35 meters to the southwest and remaining open, and within hole 19-08, although there was no significant intercept, it did include alteration style rocks similar to those found within the mineralized areas of the TM zone. The S zone was also extended to the southwest and northeast through intersections in holes 19-10 and 19-07, respectively. The overall extension of the S zone is estimated to be in excess of 100 meters. Exploration in 2020 is expected to include geophysical surveys to further pinpoint drill targets for mineralization at depth within the Main Zone and other potential zones within the property area.
Michael Scholz, Chairman noted: “These drill results continue to verify the surface trench results recently announced, that the main zone at Silver Hart comprises of high grade silver-lead-zinc mineralization at mineable widths. These positive drill results also demonstrate the potential to expand resources at Silver Hart. This is very encouraging for us as we enter a new phase of the project where we plan to test a bulk sample and further study the known deposits to determine if they are amenable to a seasonal mine operation. This strategy with the Silver Hart deposits fits with our corporate philosophy to advance projects to near term development.”
Assays were completed by Bureau Veritas Mineral Laboratories Canada Ltd. and quality control, sampling and core logging 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 is the Qualified Person (as defined by National Instrument 43-101). He 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 owns two properties in Yukon, including the Logjam Property and the Silver Hart Property, described herein. Silver Hart is CMC’s flagship property. The Company also has a 100% ownership in a gold processing mill in Bishop, California, USA.
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.”