MONTREAL, QUEBEC–(Marketwired – June 28, 2016) – Canada Strategic Metals Inc. (“Canada Strategic Metals” or “the Company”) (TSX VENTURE:CJC)(FRANFURT:YXEN)(OTCBB:CJCFF) and Matamec Explorations Inc. (TSX VENTURE:MAT)(OTCQX:MHREF) are pleased to announce the beginning of the summer exploration program on Sakami Gold project. Canada Strategic plans to conduct an important program of exploration between June 15th to August …
Canada Strategic plans to conduct an important program of exploration between June 15th to August 15th, 2016. The program will includes magnetic-electromagnetic ground survey on La Pointe, JR West and Iles area, extensive prospection and stripping program on the Peninsula, JR and Iles area to test by sampling and tried to explain the anomalies identified by geochemistry and geophysics complete in 2014-2015 (see map below). Also, a ± 2000 meters drilling program is plan on the La Pointe area to extend the zone 25 to the North-west and to the south-east. (a map of localisation of plan drill hole is available at http://media3.marketwire.com/docs/strat_1_b.jpg).
The drilling program is aimed at increasing the size of the main gold zone (Zone 25) to the west-northwest, the South-east, as well as its extension at depth. Zone 25 is in the La Pointe sector of the Sakami property. Also, a lithological exploration hole is plan in the south portion of La Pointe. A surface map showing drill holes locations is available at http://media3.marketwire.com/docs/strat_2.jpg.
“We are very excited by this important exploration program that will include new drilling on the Sakami project during the month of July” said Jean-Sebastien Lavallée, President and Chief Executive Officer of Canada Strategic Metals. “The latest intersection of more than 45 meters containing significant gold grade was very encouraging and drilling in the extension of these zone can reveal significant results, including high grade as we can observe in Hole PT-15-87.”
Table of mineralized intersections from 2013-2015 drill holes
|Hole #||From (m)||To (m)||Length* (m)||Au (g/t)|
* Core length; the Company estimates the true width of the mineralized zone at 70 to 90% of the core length.
The 2016 summer program is managed by Consul-Teck Exploration of Val-d’Or, Quebec who designed the drilling campaign, with the help of Guy Desharnais of SGS company.
Consul-Teck Exploration implemented QA/QC procedures to ensure best practices in sampling and analysis of the core samples. The drill core was logged and then split, with one-half sent for assay and the other retained in the core box as a witness sample. Duplicates, standards and blanks were inserted regularly into the sample stream.
The samples were delivered, in secure tagged bags, directly to the analytical facility for analysis; in this case ALS Minerals laboratory facility in Val-d’Or (Quebec). The samples are weighed and identified prior to sample preparation. All samples are analyzed by fire assay with AA finish on a 30g sample (0.005-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au.
Jean-Sebastien Lavallée (OGQ #773), geologist, shareholder and President and Chief Executive Officer of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.
Grant of options
The Company also announces that it has granted to Relations Publiques Paradox 450,000 stock options. The options will be exercisable for a period of two years, at a price of $0.10 per share. The Company will also extend the expiry date of 850,000 stock options issued in July 2014 for a period of two years.
These options will vest over a 12-month period at a rate of 25% per quarter. The options are granted in accordance with the Policy 4.4 of the TSX Venture Exchange and the terms and conditions of the Company’s Stock Option Plan.
The above-mentioned are subject to the approval of the TSX Venture Exchange.
About Canada Strategic Metals
Canada Strategic Metals is an emerging company focused on the exploration and development of a number of projects covering over 22,584 hectares in Quebec. With broad management experience in green technology and junior resource exploration and development, Canada Strategic Metals is well positioned to aggressively advance this promising property portfolio for its shareholders.
For more information on the Company, please visit www.csmetals.ca.
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.
President and Chief Executive Officer
819-354-5146Relations publiques Paradox