VANCOUVER, British Columbia, Sept. 19, 2024 (GLOBE NEWSWIRE) -- CMC Metals Ltd. (TSX-V: CMB) (Frankfurt:ZM5P) (“CMC” or the “Company”) is pleased to announce that the Company has completed a significant reclamation program on its Silver Hart and Blue Heaven claims in Yukon Canada. While supervising the reclamation effort, the Company’s Chief Geologist and President discovered three manto zones within the Main Zone at Silver Hart and identified additional areas of interest on the Blue Heaven claims all of which merit further investigation. Several grab samples were collected and have been sent for assaying.
The program completed reclamation of trenches, historical and recent access roads, drill pads in both claim areas (i.e. Silver Hart and Blue Heaven) of the Silver Hart Project. It is also important as it serves to ensure that the surety bond with Yukon is at a sufficient level.
Kevin Brewer, P.Geo, President and CEO noted that “This reclamation work is of considerable importance in meeting permit requirements and demonstrating social responsibility in our work programs. Every year we have completed progressive reclamation of historical work areas dating back to the mid 1980’s and recent activities. While supervising the effort I had some time to scout around and as a result identified three new manto zones which have never been drill investigated. We now have several drill target areas including (i) within the Main Zone on the Silver Hart claims that require infill drilling that could result in extensions of known mineralization; (ii) the “Golden Cross” area on the Blue Heaven claims which had highly positive trench results that appear to indicate the existence of staked manto horizons in that area, and (iii) recent discoveries of new mantos on surface.”
Mr. Brewer added that “This indicates that to me that clearly the full potential for CRD mineralization at this project is yet to be fully identified.”
As recently announced, the Company has selected MICON International to complete a new 43-101 compliant Mineral Resource Estimate of the Main Zone on the Silver Hart claims which currently has mineralization identified in several zones that may be amenable to open pit mining.
In addition, the Blue Heaven Property comprises of 118 claims (1,975 hectares) that are contiguous to the Company’s Silver Hart claims and is characterized with 13 mineralized areas and 36 showings many of which are yet to be evaluated by the Company.
A brief program in 2022 extended previous trenching at the Desire Showing (subsequently renamed as the Golden Cross Zone) with highly positive results including:
8.0 meters grading 13.39% lead, 1.57% zinc, 359.25 g/t silver and 1.17% manganese including 1.0 meter of 10% lead, 5.1% zinc, 1,500 g/t silver and 2.3% manganese
13.0 meters grading 8.25% lead, 4.22% zinc, 151.57 g/t silver and 9.16% manganese including 1.0 meter of 23.86% lead, 0.9% zinc, 623 g/t silver and 2.3% manganese
A 14.0 meter mineralized area including 1.0 meter samples containing:
10% lead, 2.5% zinc, 360 g/t silver and 3.7% manganese
10% lead, 8.5% zinc, 459 g/t silver, and 1.6% manganese
Several other 1.0 meter length individual samples containing:
49.8% lead, 3.7% zinc, 857 g/t silver and 5.7% manganese
13.4% lead, 5.6% zinc, 167 g/t silver and 10.5% manganese
59.46% lead, 1.8% zinc, 1,076 g/t silver and 3.2% manganese
21.01% lead, 1.1% zinc, 820 g/t silver and 1.4% manganese
16.53% lead, 0.3% zinc, 425 g/t silver and 0.7% manganese
64.56% lead, 5.6% zinc, >1,500g/t silver and 2.3% manganese
29.26% lead, 0.7% zinc, 1,295 g/t silver and 0.5% manganese
The area around the Golden Cross Zone is also characterized by several outcrops with extensive manganese which has been found to be indicative of silver-lead-zinc CRD-style mineralization on the Silver Hart property. These areas will be further evaluated with trenching and detailed mapping once an exploration permit has been secured for the property
In addition, a bulk sample collected by Nordac Resources Ltd. in 1999 from the Blue and H zones within the Blue Heaven claims comprised of 51.47 dry tonnes grading 8,563 g/t silver, 56.2% lead, 9.5% zinc and 1.2 g/t gold.
A recent in-depth analysis completed by Ronacher-McKenzie Geosciences on the 2021 SkyTEM airborne electromagnetic survey identified four areas of exploration prospectivity within the Silver Hart Project areas that were deemed to merit detailed evaluation.
A permit application including a renewal for exploration on the Silver Hart and Blue Heaven claims submitted to the Yukon Environmental and Assessment Board has reached the final review stage. The Company is optimistic that a permit will be acquired prior to the 2025 field season. CMC wholly owns (100%) the Silver Hart claims and has recently acquired an 80% interest in the Blue Heaven claims with the remaining 20% owned by Strategic Metals Ltd.
Qualified Person
Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company’s President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining 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 Ltd.
CMC Metals Ltd. is a growth stage exploration company focused on opportunities for high grade polymetallic deposits in Yukon, British Columbia and Newfoundland. Our polymetallic silver-lead-zinc CRD prospects in the Rancheria Silver District include the Silver Hart Deposit and Blue Heaven claims (Yukon), Amy and Silverknife claims (British Columbia). Our polymetallic projects with potential for copper-silver-gold and other metals include Bridal Veil (central Newfoundland) and Logjam (Yukon).
On behalf of the Board: “Kevin Brewer” Kevin Brewer, President, CEO and Director CMC Metals Ltd.
For Further Information and Investor Inquiries: Kevin Brewer, P. Geo., MBA, B.Sc.(Hons), Dip. Mine Eng. President, CEO and Director Tel: (+52) 669 198 8503 [email protected] Suite 1000-409 Granville St., Vancouver, BC, V6C 1T2
To be added to CMC's news distribution list, please send an email to [email protected] or contact Mr. Kevin Brewer directly.
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 exploration 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, to carry out the work 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, the impact of the constantly evolving COVID-19 pandemic crisis 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.”
