Chilean Metals - Bass River North JV Completes PEM Geophysics Program at Bass River - CastleReagh Project

2018-01-08 / @thenewswire

(TheNewswire)

BASS RIVER, NS / TheNewswire / January 8th, 2018 - Chilean Metals Inc. (“Chilean Metals,” “CMX” or the “Company”) (TSX.V: CMX, OTCQB: CMETF, SSE:CMX, MILA:CMX, FRA: IVV1, BER : IVV1).

Chilean Metals Inc and Bass River North JV Team are pleased to report that they have completed the PEM Geophysics work at their Bass River – CastleReagh Project in Nova Scotia, under the direction of Chilean Metals & its Technical Committee.

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Joe Mihelcic, P. Eng, President, Clearview Geophysics Inc.

Gary Lohman, VP of Exploration stated, “We are very pleased to get the CastleReagh program underway and look forward to commencing our drill program on these high priority targets in the Cobequids”.

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PEM equipment on site, CastleReagh, Nova Scotia.

ClearView Geophysics Inc., Brampton, Ontario, completed a three component fixed loop TDEM (PEM) Survey totaling 7.6 km. over Priority Targets, BRN_VT01 and BRN_VT03 at CastleReagh, north of Bass River, Nova Scotia as recommended by Minotaur Exploration (Australia) and our Technical Committee.

The dataset was forwarded to Minotaur Exploration (Australia) for processing and interpretation. Under direction of Dr. Tony Belperio, Minotaur is processing & modeling the data, the final report providing drill hole coordinates, depth, azimuth and target characteristics. Chilean Metals – Bass River JV Team is looking forward to announcing & preparing for its drill program.

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PEM Profile Line 100, Bass River North – CastleReagh Project

About Chilean Metals

www.chileanmetals.com/

Chilean Metals Inc. is a Canadian Junior Exploration Company focusing on high potential Copper Gold prospects in Chile & Canada.

Chilean Metals Inc is 100% owner of five properties comprising over 50,000 acres strategically located in the prolific IOCG (“Iron oxide-copper-gold”) belt of northern Chile. It also owns a 3% NSR royalty interest on any future production from the Copaquire Cu-Mo deposit, recently sold to a subsidiary of Teck Resources Inc. (“Teck”). Under the terms of the sale agreement, Teck has the right to acquire one third of the 3% NSR for $3 million dollars at any time. The Copaquire property borders Teck’s producing Quebrada Blanca copper mine in Chile’s First Region.

Chilean Metals Inc is the 100% owner of four Copper Gold exploration properties in Nova Scotia on the western flank of the Cobequid-Chedabucto Fault Zone (CCFZ); Fox River, Parrsboro, Lynn and Bass River respectively. Initial targeting and geophysics has been conducted on all properties, At Bass River North, airborne geophysics identified a major VTEM cluster on trend with the Pb/Zn/Ag mineralization exposed at surface and in drill holes to the southwest. Modeling of the airborne data by Minotaur Exploration (Australia) identified 3 priority targets recommended for ground based geophysics prior to drilling.

ON BEHALF OF THE BOARD OF DIRECTORS OF Chilean Metals Inc.

“Terry Lynch” “Patrick J Cruickshank”

Terry Lynch, Chairman Patrick J Cruickshank, President & CEO

Contact: terry@chileanmetals.com patrick@chileanmetals.com

The Qualified Person for Chilean Metals Inc., as defined by National Instrument 43-101, is Gary Lohman, P. Geo., Vice President, Exploration.

Forward-looking Statements: This news release may contain certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that CMX expects to occur, are forward looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements in this document include statements regarding current and future exploration programs, activities and results. Although CMX believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing, inability to obtain required regulatory or governmental approvals and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. 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