CMC Provides an Update on its Corporate Strategy for 2020
Vancouver, BC.: CMC Metals Ltd. - (“the Company”) (TSX-V: CMB) wishes to announce that this summer it will focus on identifying additional resources of high grade silver-lead-zinc on the Silver Hart property. The Company also plans to undertake efforts to develop a permitting strategy and complete the necessary environmental and engineering studies necessary to complete an application for mine development.
Over 35 years of exploration have demonstrated that Silver Hart has the potential to host significant high grade silver-lead-zinc vein deposits and carbonate replacement deposits. Recent work has indicated the potential for increased mineable widths within existing zones, the potential for extensions of these zones, and new zones within the property area. Less than 10% of the property has been subjected to modern exploration techniques.
Mr. Michael Scholz, Chairman noted, “We are very excited about the broad range of exploration efforts that will be completed at Silver Hart this year. This program will contribute significantly towards our goal to advance Silver Hart to the development stage in the foreseeable future.”
The Company will initiate a range of activities focused on expanding resources that are expected to include: re-logging of core from several drill campaigns dating back to 2005, completing new geochemical and geophysical surveys (i.e, induced polarization/VLF-EM), updating of the 3D deposit model, an extensive trenching program, and test pit sampling of the waste pile. The Company has completed an extensive study of mineralization and alteration styles associated with the high grade vein and carbonate replacement deposits in the Rancheria silver district. This data has been incorporated into the design of the exploration program to enhance the potential for new discoveries within the property area. Regional reconnaissance efforts will also be undertaken with the aim of identifying areas with exploration potential on previously unexplored claims.
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.
CMC is a precious metals exploration and development company working in Yukon and is actively seeking other projects to acquire in its portfolio.
On behalf of the Board:
“Michael C. Scholz”
Michael Scholz, Director
CMC METALS LTD.
For further information concerning the CMC Metals Ltd., or its exploration projects, please contact:
President, CEO and Director
Tel: (604) 605-0166
To be added to CMC’s news distribution list, please send an email to firstname.lastname@example.org or contact Mr. Michael 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 may contain 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.”