cmc construction services

CMC Metals Ltd. Fulfills Anniversary Requirements on Four Option Agreements in 2021

 

CMC Metals Ltd. (TSX-V:CMB)(Frankfurt:ZM5N)(OTC PINK:CMCXF); (the "Company") announces that it has fulfilled all conditions and has subsequently extended the option period for the second anniversary year for four property agreements. Conditions including payments of cash andor shares and expenditure requirements have been fulfilled for the Blue Heaven and Rancheria South properties in northern BC and Yukon and Bridal Veil and Terra Nova properties in Newfoundland

 

Mr. John Bossio, Chairman notes: "These properties were quality assets which we acquired at very reasonable terms. We are finally getting to examine the potential of these properties and initiate preliminary work on them. CMC has a diversified portfolio of properties all of which were acquired due to our review of their geology, exploration history, and their overall exploration potential to host high grade polymetallic deposits."

 

Blue Heaven: The Company completed a SkyTEM airborne geophysical survey over the entire property which served to identify a geophysical anomaly coincident with an area of known north-easterly trending high grade polymetallic silver-lead-zinc veins. There are few outcrops in the area of the anomaly as it is heavily wooded. However limited prospecting in an area of new trail development resulted in the collection of two grab samples from new showings as follows:

 
               
LocationSample No.Silver (g/t)Lead (%)Zinc (%)
Blue Heaven3825171480.0210.3
Blue Heaven382517311.70.045.2
 

The Company is currently evaluating plans to further test the validity of this target given the high- grade nature of mineralization found in several showings (i.e., Blue, H, Hall, Triumph, Desire and Moar Showings) that are all in close proximity to the geophysical anomaly. Both the anomaly and geology being altered carbonates in close proximity to the contact with intrusives has led the Company to believe that the target has similar characteristics to that of mineralized areas at the adjacent Silver Hart property.

 

Rancheria South: The Company completed a SkyTEM airborne geophysical survey over the entire property which served to identify geophysical anomaly coincident with an area in the southwestern portion of the property. In this area there are at least four primary targets occur within the showings called Gunnar Berg which possibly represent:

 

1. A Silvertip style target: hosted in the McDame Group (dark blue) limestones, marbles and calcareous sedimentary rocks as evidenced by significant Pb, Zn and Ag soil anomalies;

 

2. Tungsten +/- Molybdenum skarns: significant tungsten values have been reported from partially tested trenches and sampling near the Gunnar Berg gossan and skarns zones;

 

3. Moly veinlets: molybdenum veinlets in stockworks have been noted to occur within 100-200 metres of contact of the Cassiar batholith in the area of the Gunnar Berg showing but are yet to be tested; and

 

4. Silver-Lead-Zinc Breccia‘s and Veins: high grade (up to 429 g/t Ag over 12 metres) have been noted at Gunnar Berg within an alteration area with a strike length of up to 900 meters

 

The Company intends to complete detailed prospecting of the Gunnar Berg area in the 2022 field season utilizing the historical data with the recent geophysical results to determine if the area merits further exploration by trenching and/or drilling activity.

 

Bridal Veil: The Company is in the process of completing channel sampling of the Bridal Veil showing and four soil survey grids. The four grids will provide a perspective on the extent of mineralization at the Bridal Veil area and in areas in the central and north-central portion of the property where regional government surveys identified three gold-in-till anomalies. This preliminary program is near completion and will help to determine the extent and nature of further exploration in 2022 and beyond.

 

Terra Nova: The Company has completed two site visits to the Property and the property optioners Nancy and Scott Rogers of Newfoundland completed additional prospecting and identified new showings in the area of exploration interest. Altered areas within the granites on the property contain mineralization within shear zones, stockwork-style vein systems, and disseminated mineralization. Previous sampling of several showings (i.e., the Copper Vein; Nancy's gold vein showing; New Alteration Zone; the Silver Pit; and, the Galena Vein Showing) that occur within a large alteration area of approximately 12 square kilometers are considered to have potential to host mesothermal gold-polymetallic deposits. The Company has sent several samples collected from limited prospecting this season for analysis. The Company also intends to pursue a permit to further explore the property in 2022 by constructing a trail into areas currently accessible only by foot at the Copper Vein, the new Alteration Zone and Nancy's gold vein showings to facilitate trenching and further exploration and to also conduct trenching at the road accessible Silver Pit Showing.

 

Qualified Person

 

Kevin Brewer, a registered professional geoscientist in BC, Yukon and Newfoundland, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43101). He has approved the technical information 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 high graded polymetallic deposits in Yukon, British Columbia and Newfoundland and Labrador. Our silver-lead-zinc prospects in the Rancheria Silver District include the Silver Hart Deposit and Blue Heaven claims (the "Silver Hart Project") in Yukon, and Rancheria South, Amy and Silverknife claims (the "Rancheria South Project") in British Columbia. Our polymetallic projects with potential for copper-silver-gold and other metals include Logjam (Yukon), Bridal Veil and Terra Nova (both in Newfoundland).

 

On behalf of the Board:

 

"John Bossio"___ ____
John Bossio, Chairman
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: (604) 670 0019 kbrewer80@hotmail.com
Suite 615-800 Pender St.
Vancouver, BC
V6C 2V6

 

To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer.

 

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."

 

SOURCE: CMC Metals Ltd.

 

View source version on accesswire.com:
https://www.accesswire.com/671145/CMC-Metals-Ltd-Fulfills-Anniversary-Requirements-on-Four-Option-Agreements-in-2021

News Provided by ACCESSWIRE via QuoteMedia

The Conversation (0)
Silver bar surrounded by shiny silver nuggets on a black background.

Top 5 Canadian Silver Stocks of 2025

Silver prices surged during the second quarter of 2025, surpassing the US$37 per ounce mark and reaching their highest levels in 14 years.

The price movements stem from a tightening supply and demand situation, which has seen above-ground inventories squeezed due to an increasing need from industrial sectors, particularly the growing photovoltaics industry.

However, demand has also increased due to heightened investor interest in alternative safe-haven assets, as gold prices reached record highs. The shifting sentiment comes amid uncertainty over a US trade policy that could reduce the world's gross domestic product by 1 percent.

Keep reading...Show less
Silver bar chart going up.

5 Silver Stocks With Dividends

Silver is a notoriously volatile metal capable of wide price swings in either direction. However, the metal is also seen by many as a safe-haven investment and a hedge against inflation.

While investing in silver bullion is one popular method for gaining exposure, silver-mining companies offer another route.

Silver-mining companies with strong balance sheets and experienced management teams are able to capitalize on high silver prices and weather the storm of low silver prices. Some of the most profitable silver-mining companies are even able to offer investors dividends, which may be appealing for those who are in it for the long haul.

Keep reading...Show less
Rapid Successfully Undertakes $10.5M Capital Raising to Fund Acquisition of the Webbs and Conrads NSW Silver Projects

Rapid Successfully Undertakes $10.5M Capital Raising to Fund Acquisition of the Webbs and Conrads NSW Silver Projects

Rapid Critical Metals Limited (‘Rapid,’ ‘RCM’ or ‘Company’) is pleased to announce that the Company has received firm commitments from institutional, sophisticated and professional investors for the placement of 437,500,000New Fully Paid Ordinary Shares (New Shares) at an issue price of A$0.024 per new share (post 12-for-1 consolidation) to raise gross proceeds of A$10.5 million (Placement). The Placement comprises two tranches:

Keep reading...Show less
Silver bars with rising chart, "Weekly Editor's Picks" text overlay.

Editor's Picks: Silver Price Hits 13 Year High, Gold Takes a Breather

Gold was on the decline this week, closing just below US$3,370 per ounce, after tensions in the Middle East pushed it past the US$3,430 level toward the end of last week.

All eyes were on the US Federal Reserve, which in a widely expected move left interest rates unchanged on Wednesday (June 18) following its two day meeting. The central bank cut rates in December 2024, but has kept them steady for its last four gatherings.

US President Donald Trump wasn't pleased, calling Powell "too late" in a Thursday (June 19) post on Truth Social. While speculation that Trump will fire Powell has died down, the president did recently say he intends to announce his next pick for the Fed leader position "very soon."

Keep reading...Show less

Latest Press Releases

Related News

×