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CMC Metals Ltd. ("CMC" or the "Company") (TSXV:CMB) (OTC:CMCXF) (Frankfurt:ZM5N) is pleased to announce positive preliminary exploration results from a reconnaissance site visit conducted on its Bridal Veil Property in Newfoundland.
A brief visit involving the sampling of known showings on the property resulted in the identification of an extensive area of anomalous copper and bismuth mineralization with minor silver. The area has coincident EM anomalies that are yet to be explained. Values from grab samples of veined psammitic metasediments ranged from 0.041% to 3.473% copper, 0.74-136.96 g/t bismuth, and 1069-19340 ppb silver. Historical sampling have returned grades of up to 9.4% copper, 10.2% lead, 7.8 oz/t silver and 3.75 g/t gold. The Bridal Veil mineral occurrences have been previously identified as being related to an epigenetic copper-silver +/- lead and gold orogenic vein system hosted in deeply dipping shear zones. The property is transected by the Trans Canada Highway approximately 10 kilometers east of Gander and 15 km east of Newfound Gold's Queensway Project.
Kevin Brewer, P.Geo. President and CEO of CMC noted, "We are highly encouraged about these preliminary results at Bridal Veil. Less than 15% of the property area has been explored to date. At this stage it is clear we need to better understand the mineralizing system as the tenure of mineralization is very encouraging. It is now a matter of determining the extent, possible continuity, and subsurface potential of this mineralization throughout the property. Our plans are to further examine this property in the fall after work is completed on our flagship property at Silver Hart in Yukon."
About CMC Metals Ltd.
CMC Metals Ltd. is a growth stage exploration company focused on opportunities for silver in Yukon and British Columbia and polymetallic deposits in Yukon and Newfoundland. Our silver-lead-zinc prospects include the Silver Hart Deposit and Blue Heaven claims (the "Silver Hart Project") and the recently acquired Rancheria South, Amy and Silverknife claims (the "Rancheria South Project"). Our polymetallic projects with potential for copper-silver-gold and other metals include Logjam (Yukon), Bridal Veil and Terra Nova (both in Newfoundland).
Qualified Person
Kevin Brewer, a registered professional geoscientist in BC and Yukon, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). 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.
On behalf of the Board:
"John Bossio"
John Bossio, Chairman
CMC METALS LTD.
For further information concerning the CMC Metals Ltd., or its exploration projects, please contact:
| Investor Inquiries: | Kevin Brewer, P. Geo. |
| President, CEO and Director | |
| Tel: (604) 605-0166 | |
| kbrewer80@hotmail.com |
To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer at 604-605-0166.
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."
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c74965da-d72f-4cff-8965-9d2c88caa0d4
