October 14, 2020 - TheNewswire - Vancouver, BC - CMC Metals Ltd. - ("the Company") (TSXV:CMB) (OTC:CMCXF) is pleased to announce highly anomalous silver, lead, and zinc values from recent soil sampling in an extension of the previous grid on the South Zone at the Company's 100% owned Silver Hart Project in Yukon, Canada.
Key highlights from recent soil sampling in the South Zone are as follows:
- From a total of 194 samples, 21 were anomalous in silver with three samples in excess of 3,000 ppb ranging from 3,127-10,914 ppb, 38 samples in excess of 1,000 ppb ranging from 1019- 2977 ppb and 28 samples in excess of 500 ppb;
- Nine (9) samples had anomalous values of silver >5,000ppb;
- All samples with values of >3000ppb silver were also anomalous in zinc and lead and a majority of the samples with values of >1000ppb-2,999ppb also had coincident anomalous values of lead and zinc;
- 65 samples were anomalous in Pb with values greater than 50 ppm and a highest value of 868.84 ppm;
- 81 samples were anomalous in zinc with values greater than 200 ppm and a highest value of 938.9 ppm;
- A significant anomalous area 350 meters by 175 meters that is open to the west, south and east has been identified in the southeastern corner of the South Zone;
- A significant anomalous area of strike length in excess of 600 meters by 75-100 meters and trending in a northeasterly direction (the typical direction of other vein structures at Silver Hart) was identified in the northwestern portion of the South Zone; and
- There is a strong correlation of anomalous manganese and iron values with anomalous silver, lead and zinc samples
(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 South Zone remains open in all directions and now encompasses an area of 1km by 800 meters in size.
Kevin Brewer, P. Geo, President and CEO of the Company noted, "These are the most encouraging soil geochemical results in the history of exploration at Silver Hart. This last survey has served to identify an anomalous area greater in overall size than the Main Zone and therefore offers great potential to expand resources. The data signals the possibility for two major northeasterly trending anomalous areas that both extend for greater than 800 meters in strike and are a strong indicator for the presence of major vein and alteration zones. In addition, the extent and frequency of highly anomalous samples in the lower southeastern portion that remains open in all directions is yet to be fully determined and will merit a lot more exploration and prospecting in that area in 2021."
John Bossio, Chairman noted, "Everywhere our geological team conducted sampling in 2020 resulted in the identification of new anomalous areas and potential new targets for silver and base metal mineralization. The extent of the target areas has vastly increased our exploration footprint at Silver Hart compared to the Main Zone which was the focus of exploration until 2019. This signals a clear opportunity to potentially add significant resources at Silver Hart."
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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