Vancouver, BC – TheNewswire – September 23, 2020 – CMC Metals Ltd. – (“the Company”) (TSXV:CMB) (OTC:CMCXF) (Frankfurt:ZM5N) is pleased to announce additional assay results from recent soil sampling in an extension of the previous grid on the KW zone at the Company’s 100% owned Silver Hart Project in Yukon, Canada.
Key highlights from recent soil sampling in the KW Zone are as follows:
– From a total of 79 samples, 31 were anomalous in silver with three samples in excess of 3,000 ppb ranging from 3,129-5,960 ppb, 9 samples in excess of 1,000 ppb ranging from 1,196-2,051 ppb and 20 samples in excess of 500 ppb ranging from 500-942 ppb; and,
– Anomalous values of zinc and lead were also coincident with the silver anomalies, with 3 samples anomalous in lead and five samples anomalous in zinc.
(Note: anomalous levels were considered to be assays from soils collected with greater or equal to 500 ppb silver, 200 ppm zinc and 50 ppm lead.)
The anomalies were located in a northeast trending lineament and depression in the west-northwestern corner of the KW zone. The encouraging aspect of this is that mineralized areas in both the Silver Hart and Blue Heaven are often associated with northeast trending linear depressions. The zone remains open to both the southwest and northwest and will be further sampled in 2021.
Kevin Brewer, President and CEO of the Company noted, “Last year we identified mineralization and completed an initial soil sampling program in the KW zone. Our results at that time indicated that the zone could possibly extend to the northwest and southeast. This year we started to sample the extensions in this zone. Our efforts this season have doubled the size of the anomalous area since 2019 and it remains open to the north and south. We are also encouraged by the intensity and continuity of the anomalies in the northwestern corner. In addition, our geophysics survey including an Induced Polarization survey and ground magnetometer survey covered these areas so we anxiously await that data as combined with the soil geochemical results, prospecting and trenching, it will help us further verify drill targets in the KW zone.”
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). 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 Canada and the United States that offer potential for production. The Company is led by a seasoned team with experience developing assets to commercialization. The Company’s Silver Hart Property is a high grade silver-lead-zinc project located in the Yukon, 132 km west of Watson Lake, and covers 2,200 hectares and 116 contiguous and partial claims. The Company recently acquired the Blue Heaven claims adjacent to Silver Hart which comprises of similar mineralization and geology and covers 1,975 hectares and 118 contiguous and partial claims. Together these combined properties offer excellent exploration potential for high-grade silver-lead-zinc veins and carbonate replacement deposits.
CMC is actively seeking other projects to acquire in its portfolio.
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.”
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