August 12, 2020 - TheNewswire - Vancouver, BC. - CMC Metals Ltd. - ("the Company") (TSXV:CMB) (OTC:CMCXF) is pleased to announce additional highly anomalous assay results from recent soil sampling in the southern end of the property that may represent an extension of the Main Zone at the Company's 100% owned Silver Hart Project in Yukon, Canada.
Soil geochemical surveys were conducted southeast (see Figure 1) of the Main Zone following up on historic VLF-EM conductors that were not completely sampled. Some work had been completed in the area during early exploration efforts in 1985-1987 but have not been examined using modern exploration techniques since that time.
Key highlights from recent soil sampling in this area are as follows:
- From a total of 132 samples, 44 were anomalous in silver with 2 samples in excess of 3,000 ppb ranging up to 5,534 ppb, 17 in excess of 1,000 to 2,999 ppb ranging from 1037 to 2841 ppb and 25 in excess of 500 to 999 ppb
- In most instances the anomalous silver results were coincident with anomalous values of zinc and lead. From the 132 samples, 24 samples were anomalous in zinc with the highest value of 1190.6 ppm, and 14 samples were anomalous in lead with a highest value of 270.2 ppm
(Note: anomalous levels were considered to be assays from soils collected with greater or equal to 500ppb silver, 200 ppm zinc and 50 ppm lead).
The encouraging aspect of the results is:
- This area is in close proximity to the highly anomalous samples to the south recently announced on August 5 which now indicates that the total new anomalous area covers an area of approximately one kilometer in length and up to 600 meters in width
- This anomalous area is following the strike trend of the eastern portion of the Main Zone where we have recently identified historic trenches that are mineralized and are associated with VLF-EM conductors. If these are a part of the same veins that are identified in the trenches (results pending from sampling) the lateral extent of a possible new vein system could be in excess of over 2.0 kilometers in length.
Kevin Brewer, President and CEO of the Company noted, "We continue to be highly encouraged by the results form our geochemical sampling program. As a result we are expanding the sampling program to fill in the gaps between sampled areas in the south and between these zones and the KW grid. We also have mobilized heavy equipment into the area to conduct trenching. The possible lateral extent of these systems is indicating to us that there are possible other major vein systems at Silver Hart and potentially on our neighboring property Blue Heaven that have only be subjected to cursory exploration. Also similar to our previous results the zonation in the vein system is showing a consistent trend with increasing zinc at depth which is consistent with carbonate replace deposit systems. The area of exploration interest at Silver Hart is significantly increasing."
John Bossio, Chairman of the Company noted, "Our efforts are working to achieve our goal of identifying the true exploration potential of the Silver Hart area and establishing numerous targets for future drilling campaigns."
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 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. The neighboring Blue Heaven Property covers 1,975 hectares and 118 contiguous and partial claims.
On behalf of the Board:
John Bossio _ _
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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