(TheNewswire)
Vancouver, BC. / TheNewswire / March 15, 2018 - CMC Metals Ltd. - (“the Company”) (TSX-V: CMB) – is pleased to announce that it is putting a work crew in place at its Radcliff Property (“Radcliff”), formerly the “World Beater” Mine” in Inyo County, Southwestern California. The work crew will undertake primary and secondary crushing, as well as assaying, of an approximately 600 short ton (“ton”) stockpile of gold-bearing rock prior to transporting the crushed materials that are assayed to contain over a certain threshold of gold to our wholly-owned mill in Bishop, California. The work is being done subsequent to a Company plan and budget that is intended to place materials adequate for starting and testing a mill circuit at the Bishop site.
In addition over the next 120 days, the Company is planning to extract up to a further 2,000 ton (1,814 metric “tonne”) Bulk Sample at Radcliff.
The stockpile material to be crushed is residual to the bulk sample material extracted from the Radcliff underground mine and delivered to the Midas property of Klondex Mines Ltd. (“Klondex”) in Elko County, Nevada for processing in 2017. As the Company reported via news release on May 24, 2017, under an agreement for the purchase and sale of gold-bearing rock the bulk sample processed by Klondex consisted of 422.86 dry metric tonnes (466.12 dry tons), and graded 0.520 oz./tonne (0.472oz/ton).
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. CMC holds a 100% interest in the Golden Point gold property bordering Teck Resources located in the Golden Triangle of British Columbia comprising of 87 claims totalling 1,518 Ha. CMC hold a 50% interest in the Radcliff Gold property (formerly the World Beater Mine) in California located 9 Miles (14 km) north of the Briggs Gold Mine in the Panamint range in Inyo county, Southwestern California. The Radcliff covers 1,654 acres (670 Ha) comprising 10 patented claims, 5 unpatented mill sites and 84 unpatented mine claims. 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.
On behalf of the Board:
“Michael C. Scholz”
Michael Scholz, Director
CMC METALS LTD.
For more information and to be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or call 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 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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