CMC Metals Ltd. Provides an Update on Exploration Activities and Announces the Formation of an Advisory Group
(TheNewswire)
Vancouver, BC. - TheNewswire - July 15, 2020 - CMC Metals Ltd. - (“CMC” or “the Company”) (TSXV:CMB) (OTC:CMCXF) (Frankfurt: ZM5N) is pleased to provide an update on ongoing exploration activities at the Silver Hart and Blue Heaven properties.
CMC has concluded Phase 1 of its 2020 exploration efforts at Silver Hart and will restart exploration efforts this week. Phase 1 included geochemical sampling of the KW Zone and two new areas of prospectivity, the TX and an area just southwest of the previous sampling in the South Zone (see figure below). These areas were identified from a review of historical exploration and we also found previous trenches in the JD Zone that were completed in 2007 but never comprehensively mapped or sampled.
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Kevin Brewer, President and CEO and the Chief Geologist supervising field operations noted, “Finding these trenches in the JD Zone was an exciting new development for us and has provided considerable insight into the potential for high grade silver-lead-zinc in the carbonate replacement zone and the overall mineralizing system at Silver Hart. In the trenches, the Company identified and sampled massive disseminated sulphide mineralization including galena, sphalerite and tetrahedrite within the vein structure and altered beds depicting carbonate replacement style mineralization. Neither the vein structure nor the zones of carbonate replacement have been fully excavated in the JD Zone. The KL Zone was also reviewed after taking into consideration the observations made in the JD Zone. The vein structure in the KL Zone is the most prominent at Silver Hart to date, ranging from 10-15 meters in width and associated with a smaller high grade core containing galena mineralization. All of the observed vein structures correlate closely to historical geophysical (VLF-EM) anomalies, many of which have not been trenched to date suggesting further opportunities to discover new high grade zones. A total of 416 soils and 38 rock samples were collected during this first phase of work and have been submitted to Bureau Veritas laboratory in Whitehorse for testing. Results for some of these samples will be available within the next couple of weeks and the remainder by mid August. In addition, preliminary investigations of the Blue Heaven property is underway to prepare for permitting and planning of future exploration efforts. The Company is now completing geochemical sampling on the South Zone of the Silver Hart property, conducting an extensive trenching program, geological mapping, site reclamation, geophysical surveys, resource evaluation and 3D modelling, and environmental and engineering studies.”
The Company further wishes to announce that the Board has created an Advisory Group as part of its objective to strengthen the management team of the Company.
John Bossio, Chairman noted, “We are very pleased and honored to have Mr. Fred Leigh and Mr. James Rogers join our newly formed Advisory Group. Both of these advisors have considerable experience within the mining industry and will help us guide our growth and enhance shareholder value in the near future.”
Mr. Fred Leigh has played a key founding and executive role in the junior mining sector for nearly four decades, and has founded and directed, and invested in many public companies. He plays a critical role at Forbes and Manhattan in assisting CEO’s and CFO’s in funding, market support and business advisory services. Forbes and Manhattan is based in Toronto, ON, and is a leading merchant bank with a global focus on the resource, agricultural, technology and telecommunications sectors.
Mr. James Rogers is a geologist active in the founding and development of several junior resource and technology companies based in Vancouver, B.C. Mr. Rogers is the President and CEO of Longford Exploration Services Ltd., CEO and Director of Clarity Gold Corp., Director of Contigo Resources, and President and Director of Global UAV Technologies Corp. Mr. Rogers and his Longford team have, and will continue to play, an active role in geological investigations on CMC’s properties.
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 a precious metals exploration and development company working in Yukon and is actively seeking other projects to acquire in its portfolio.
Covid-19 Response Plan
CMC has put a coronavirus prevention and response plan in place for Phase 2 of the 2020 exploration program. This is in order to ensure a safe working environment as our top priority, including but not limited to social distancing and extra sanitation to protect our employees, contractors, residents in nearby communities and other stakeholders.
On behalf of the Board:
John Bossio
Chairman,
CMC Metals Ltd.
For further information concerning the CMC Metals Ltd., or its exploration projects, please contact:
Investor Inquiries: Kevin Brewer, P. Geo.
President, CEO and Director
Tel: (604) 605-0166 / Email: kbrewer80@hotmail.com
To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer 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.”
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