Base Metals

NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES CMC Metals Ltd. is pleased to announce a very successful drill program at Silver Hart. This program produced multiple high-grade silver-lead-zinc intersections in the TM West Vein including 2.3 meters of 4,910.8 gt silver equivalent. In total 2,100 meters of diamond drilling was completed, a majority of which ...


CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5N)(OTC PINK:CMCZF) ("CMC" or the "Company") is pleased to announce a very successful drill program at Silver Hart. This program produced multiple high-grade silver-lead-zinc intersections in the TM West Vein including 2.3 meters of 4,910.8 gt silver equivalent. In total 2,100 meters (19 holes) of diamond drilling was completed, a majority of which focused on the TM West vein in the Main Zone. Drilling also resulted in an extension of the TM West Vein structure for 360 meters. The Main Zone requires a lot of additional drilling to fully evaluate the resource that exists within it. The Company notes that there is considerable opportunity to further extend the TM west vein and extend other known mineralized vein systems within the Main Zone at Silver Hart. This work will be incorporated into the planning and implementation of future drilling programs

Highlights of the drill results include:

2021 Highlights of Drill Results









Ag Eq









































































elevated copper and gold









































































  1. AgEq g/t grades were calculated as follows
    AgEq g/t = (Ag price/g x Ag grade ppm + Cu price/g x Cu grade ppm + Pb price/g x Pb grade ppm + Zn price/g x Zn grade ppm)/Ag price/g

    Metal prices used: Ag = USD 23.30/oz; Cu = USD 6120/tonne; Pb = USD 1892/tonne; Zn = USD 2505/tonne (The prices are based on a 3-year trailing average)
  2. A drill hole location map and hole coordinates will be placed on the Company website at

John Bossio, Chairman noted, "We are very pleased with the progress of delineating high-grade material in the Main Zone and results which are fulfilling our goal to establish additional resources in the Main Zone at Silver Hart. These results will now be integrated into our resource modelling and also help in planning further drilling which we hope to conduct in 2022. Further resource delineation at the Main Zone and preliminary testing of targets such as T1, T 4 and the hockey stick anomaly will require a minimum of 10,000 meters of drilling. We have a lot of work yet to do to truly understand the resource potential of Silver Hart."

Kevin Brewer, P.Geo, President and CEO noted, "In analyzing the successful results from this season there remains over 10 areas in the Main Zone alone yet to be drill investigated. As a result of successful drilling in 2019 and 2021 we are very confident that further drilling in the Main Zone will result in connectivity, down-dip and lateral extensions of the known mineralized areas and the possibility also remains to identify new mineralization. In addition, we have not even started to investigate the new targets at Silver Hart including possible extensions of the Main Zone, KW Zone, South Zone and Ridge Zone. As we have previously noted in press releases, these new targets are very encouraging with coincident positive results from geophysical, geochemical, prospecting and geological investigations. As a result, we see considerable exploration upside at Silver Hart with targets that merit further exploration by trenching and/or drilling. Silver Hart is at a pivotal stage where extensive drilling now needs to be the focus of future exploration efforts. We have spent the last two years conducting systematic exploration efforts, increased our exploration footprint by more than 1000%, and we are confident this will now culminate in the delineation of additional high-grade silver-lead-zinc deposits at Silver Hart amenable to both open pit and underground mining."

Other hole results showed zinc enrichment indicating that the holes were located in closed proximity to the heat source of the batholith and included:

Other Holes Comments
21-17 30-meter zone of zinc enrichment
21-19 results pending
21-20 elevated zinc up to 1.7%
21-22 elevated zinc
21-23 elevated zinc throughout
21-24 6 meters of 1.1-2.3% zinc @21.0-27.0 meters
21-25 no intersection
21-26 to 21-28 assays pending
21-29 Elevated silver and zinc values, core recovery poor
21-36 elevated zinc

The Company is now in the process of developing its strategic plan for 2022 and has just returned from attending Mines and Money Conference in London and meetings with potential investor groups/individuals. Upcoming activities will include the release of final drill and geochemical results from Silver Hart and other properties, and attendance at the Vancouver Resource Investment Conference and the Cordilleran Roundup in January 2022. Other activities will include the filing of permits for Amy, Silverknife, Bridal Veil and Terra Nova and field reporting.

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
Suite 615-800 West Pender St.
Vancouver, BC
V6C 2V6

To be added to CMC's news distribution list, please send an email to or contact Mr. Kevin Brewer at 604-670-0019.

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 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.

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CMC Metals

CMC Metals

This CMC Metals Ltd profile is part of a paid investor education campaign.*


CMC Metals Ltd (TSXV:CMB) has acquired quality exploration properties from the West to the East coast of Canada in some of the most prolific mining jurisdictions in the world – Newfoundland, Yukon and British Columbia. The Company has secured a diverse portfolio of properties all of which have high quality mineral occurrences, are road accessible, range from early to advanced stage, include prospects in precious and base metals, and present exceptional exploration potential.

CMC’s flagship project, Silver Hart, is one of the highest-grade silver-lead-zinc +/- gold +/- copper exploration plays. CMC offers an excellent opportunity for value growth in the short to medium term for investors seeking to gain exposure in a silver focused portfolio.

CMC Metals Ltd (TSXV:CMB) was one of the best performing silver explorers in 2020. At its flagship Silver Hart Project, CMC is continuing to explore and identify new targets and is systematically exploring the entire property area for the first time since exploration commenced in the area back in the mid 1980’s. Through a combination of geochemical and geophysical investigations, geological mapping and prospecting, 3-d modelling, and up to 2,500 meters of drilling in Phase 1, the overall aim for 2021 is to increase known resources and better define the exploration potential within the Silver Hart and Blue Heaven claims. The medium term aim is to generate a sufficient level of resources in terms of both tonnage and grade to then warrant a decision to advance to project economic evaluation (current timeline: late 2022/early 2023).

The company’s silver focused properties include the Silver Hart and Blue Heaven claims (Yukon) and Rancheria South, Amy and Silverknife (British Columbia). These are complimented by polymetallic projects including Bridal Veil and Terra Nova in Newfoundland and Logjam (Yukon).

CMC is seeking joint venture partners for its Rancheria South and Bridal Veil projects as its primary focus will continue to be on its flagship Silver Hart project. The Company also owns a gold processing mill in Bishop, California which it is intending to sell.

The company boasts a strong capital structure, solid shareholder portfolio, and a lot of upside exploration potential. At current valuation CMC Metals (TSX-V:CMB) presents a low price entry point to investors to participate in an emerging silver player. With a strong diversified portfolio.

CMC Metals is backed by a strong technical team with experience in geology, geophysics, and resource estimation that is critical to the current stage of its exploration projects.

CMC Metals’ Company Highlights

  • CMC Metals has a robust and diverse portfolio of exploration projects including two high grade silver-lead-zinc projects (Silver Hart and Rancheria South) and three polymetallic projects (Bridal Veil, Terra Nova and Logjam).
  • The company’s flagship Silver Hart project in the Yukon currently comprises of high-grade silver-lead-zinc veins with proven grades 40 percent above the average grade of existing silver mines globally. The property also has significant the potential to host carbonate replacement deposits and skarns.
  • The Silver Hart and Rancheria South projects take advantage of significant positioning in the emerging silver district of Rancheria. The district is comparable to major silver districts such as Coeur D’Alene, Idaho which was one of the most prolific silver districts.
  • Its copper-gold polymetallic projects in Newfoundland leverage excellent infrastructure and exploration-friendly conditions in one of the world’s best mining jurisdictions.
  • CMC Metals stands committed to community participation and First Nations engagement. The company is currently working towards undertaking consultation efforts on its short to medium term exploration plans, and its commitment to maximizing socio-economic impacts and communications with surrounding communities and/or First Nations governments.
  • The company’s dynamic technical team and exceptional low-price-entry positioning make CMC Metals an excellent investment candidate as a serious player in the silver and base metals mining space.

CMC’s Projects

Silver Hart Project

The flagship Silver Hart Project consists of the Silver Hart and Blue Heaven claims with approximately 4,000 hectares of highly prospective ground for high grade silver-lead-zinc, gold and copper deposits. These claims located in south-central Yukon, are adjacent to each other and road accessible. To support advanced exploration programs, the Company has established a fully serviced 25-person trailer camp and with assistance from the Government of Yukon has been upgrading the 43-kilometer access road to site.

Silver Hart Claims

The 100% owned Silver Hart property comprises of 116 claims (2,017 hectares) within the emerging Rancheria silver district. Three mineralization styles are thought to occur at Silver Hart including: (i) high-grade silver-lead-zinc veins; (ii) skarns; and (iii) carbonate replacement deposits. To date the veins have been the focus of attention and they have been identified in several sub-zones within the Main Zone where they can be traced on surface along strike in excess of 1.4 kilometers.

The Silver Hart area has an extensive exploration history stemming back to the mid 1980’s. Early prospecting efforts identified high grade silver-lead-zinc veins at surface in the area that is now referred to as the Main Zone. Until 2019, several episodes of exploration focused solely on the Main Zone where over 190 diamond drill holes was completed along with 673 meters of adit development, bulk sampling, metallurgical studies engineering and environmental studies.

Since 2019, the Company has undertaken the first systematic exploration program of the entire property which has served to identify several major zones of mineralization and numerous drill targets in areas never previously explored. CMC has expanded its exploration footprint at Silver Hart by over 750%, completed airborne and ground geophysical surveys, an extensive geochemical soil and rock sampling program, integrated all data into a comprehensive 3-D exploration model, and recently completed a detailed geological mapping and prospecting effort of all of the exploration target areas.

On January 15, 2021, the company released a 43-101 compliant resource for Silver Hart prepared by Longford Exploration Services Ltd. of Vancouver, B.C. of inferred resources in four mineralized veins totaling 346,800 tonnes with 7,501,300 silver equivalent ounces with an average grade of 570 g/t silver equivalent, comprising of 301 g/t silver, 1.7% lead and 4.0% zinc. Contained metals within this inferred resource amounted to 3,942,000 ounces of silver, 14,572,100 pounds of lead and 34,573,700 pounds of zinc. The report recommended that additional drilling be completed to test the lateral and vertical extent of the known mineralized veins, along with completion of additional metallurgical, engineering and environmental studies. Infrastructure improvements to the access road and camp facilities were also recommended to help facilitate future exploration and pre-development efforts.

From this the Company has developed a comprehensive understanding of the mineralizing system and an exploration model which is it using as guidance in its current exploration and drill program.

The Company feels that there is significant potential to be able to add further resources by infill and deeper drilling of the known veins in the Main Zone, exploration of other mineralized zones (i.e. KW and South Zones), and pursuing carbonate replacement style targets. The high-grade nature of the current inferred resource at 570 g/t silver equivalent is 40% above the average grade of silver mines and 140% above the average grade of silver explorers/developed in the world.

Blue Heaven Claims

Blue Heaven consists of 121 contiguous mineral claims and are adjacent to the Silver Hart claims to the southeast. CMC Metals can earn a 100 percent interest in the property under an option agreement with Strategic Metals Ltd.

Like the Silver Hart claims, three types of mineralization occur on the Blue Heaven property.

There are 24 known occurrences of northeast trending high-grade silver-lead-zinc veins consisting of galena and sphalerite with varying amounts of pyrite, argentite, arsenopyrite, tetrahedrite and chalcopyrite. The best veins exposed are in the Blue and H zones which returned assays up to 12,396 g/t silver over 20 cm and 10,561 g/t silver over 94 cm, respectively.

Carbonate replacement style mineralization was found in 8 zones and consisted of galena and sphalerite mineralization associated with strongly oxidized, manganiferous siderite and jasperoid replacement zones. Chip samples from an excavated trench in the Desire Zone returned a weighted average of 5.0% lead, 3.6% zinc and 65.6 g/t silver over 35.8 meters.

Skarn mineralization was identified in five tungsten-copper showings and comprised of pyrite, pyrrhotite, chalcopyrite and scheelite. A trench in the Moar zone returned 0.3% WO3 and 0.31% copper over 3.5 meters.

Silver Hart is currently undertaking detailed mapping of the more prospective zones in an effort to define possible drill targets.

Current Activities on the Silver Hart Project

In summary, CMC has recently announced the commencement of drilling at its Silver Hart Project. The company is planning to drill up to 2,500 meters in Phase One as recommended in the 2021 National Instrument 43-101 Resource Estimation Report.

Pending exploration success and additional financing, the Company plans to undertake more significant drilling efforts, engineering and environmental studies, to complete a possible Preliminary Economic Assessment of the project by late 2022/early 2023.

Rancheria South Project

The Rancheria South Project consists of the Rancheria South, Amy and Silverknife claims in north-central British Columbia. All three properties are within a distance of one to 25 kilometers from the existing Silvertip mine and mill complex owned by Coeur Mining which is currently being upgraded and expected to resume operation in late 2021/early 2022.

Rancheria South Claims

The Rancheria South property consists of 12 mineral tenures covering 2008.32 hectares. The property hosts nine mineralized showings comprising of high-grade silver veins, silver-lead-zinc carbonate replacement occurrences and tungsten- copper skarns.

Highlights of the property include:

  • A total of 9 mineralized showings have been identified within the Rancheria South claims comprising high grade silver veins, silver-lead-zinc carbonate replacement occurrences, and tungsten +/- copper skarns. The most prominent showings include Switchback (Halliday), Luck and Gunnar Berg.

Switchback (Halliday) comprises of high-grade silver-lead-zinc veins hosted in quartz-carbonate within and at the edge of a granodioritic intrusion. The alteration envelope around the veins is locally up to 30 meters wide and includes chlorite, sericite, kaolinite, quartz and pyrite. A 14-tonne bulk sample taken from Switchback in 1999 assayed 1.30 g/t gold, 532.01 g/t silver, 29.1% lead, 13.9% zinc and 0.16% copper. The prospect has a historic resource of 36,287 tonnes grading 427.2 g/t silver, 20.78% zinc and 14.95% lead (2,441,730 ounces at 2,039 g/t silver equivalent)1.

Note1: CMC Metals Ltd. does not consider there to be a current resource at this Showing as details on work completed and estimations made by United Keno Hill Mines Ltd. are not sufficient to meet current resource reporting requirements under National Instrument 43-101. 

The Luck (Lucky) showing is located near the Tootsee River and comprises of high-grade silver-lead-zinc veins with minor gold.  Silver-bearing oxidized, clay/gouge alteration zones and quartz-carbonate veins occur in sheared granodiorite.  Sulfides are generally oxidized but galena, sphalerite and tetrahedrite are found locally. Historical exploration has identified the existence of several conductors and subsequent trenching of one of the conductors revealed a strongly altered vein zone that has been tested over a 350-meter strike length with 8 rotary drill percussion drill holes (387 meters). One of the holes (LK 85-3) was reported to have intersected 4.5 meters of quartz carbonate veins and sericite-limonite-chlorite alteration that assayed 433.7 g/t silver over 1.5 meters. Assays of float material in this area have returned up to 17,088 g/t silver, 10% lead, 0.84% zinc, and 0.62% copper.

The Gunnar Berg Showing is located near a branch of the Tootsee River and contains galena, sphalerite, scheelite, molybdenum and silver bearing mineralization. Gunnar Berg comprises of banded and brecciated skarn outcrops and two discontinuous chip samples taken across 12 meters assayed 429.3 g/t silver. An eight (8) hole, 540-meter drill program completed in 1984 identified a breccia zone that is a sheet or tabular body and further exploration was recommended to delineate the higher grade zone. Additional prospecting, geological mapping, and a recent airborne geophysical survey have also served to identify an anomalous zone in excess of 500 meters by 500 meters that merits further exploration.

The Rancheria South Claims have the potential to host high grade silver-lead-zinc veins, carbonate hosted replacement deposits and skarns.

Note: The information on these showings and the historic assays was summarized from the BC Minfile and information provided by the Prospector. The Company notes that they have not verified these results in the field or with sampling at this time.

Amy Claims

The road accessible Amy Property lies 8 kilometers to the west of the Silvertip Mine complex. The Amy claims comprising of 16 mineral tenures (approximately 908.4 hectares) cover part of the Cassiar Batholith, a satellite plug and surrounding calcareous and non-calcareous sediments which in this area is a multikilometer extension of the same geological units that are mineralized in our Silver Hart Property. This highly prospective target stratigraphy extends southwards from our Rancheria South claims and transects the entire Amy claim block that is contiguous with the Rancheria South claims.  A total of 7 mineralized showings have been identified within the Amy property comprising of high-grade silver veins and silver-lead-zinc carbonate replacement occurrences. The primary showing comprises of the Amy Showing which is a developed prospect comprising of a galena, sphalerite, pyrite, arsenopyrite, argentite, and friebergite “manto” body formed by replacement mineralization in folded Cambro-Ordovician Kechika Group metasediments. The property has been subjected to geological mapping, geochemical sampling, geophysical surveys and 742 meters of drift/adit development and approximately 33 diamond drill holes focussed on a mineralized zone with a known strike length of 170 meters (BC Minfile 104O 004).

Other mineralized zones and areas within the Amy claims include:

  • Cub Zone: a channel sample graded 1.88 oz/t (53.3 g/t) silver, 4.6% lead and 3.42% zinc;
  • Zone 2: trenching produced two samples grading (i) 11.4 oz/t (323.2 g/t) silver, 10.5% lead and 13% zinc; and (ii) 150.5 oz/t (4266.7 g/t) silver, 47.4% lead and 1.9% zinc;
  • NE anomaly: a soil anomaly measuring 500 by 300 meters where sampling have produced up to 9,200 g/t lead, 4,250 g/t zinc and >20 g/t silver and mineralized float found in the same area grading from 29.82-74.10 oz/t (845.4-1817.2 g/t) silver, 4.6-31.4% lead and 0.33-5.4% zinc;
  • Breccia Zone: mineralized float sample graded 22.29 oz/t silver (631.9 g/t), 4.82% lead and 2.22% zinc; and,
  • Unnamed Zone: mineralized float graded 47.1 oz/t (1,335.3 g/t) silver.

Highlights of the property include:

  • Underground development: The underground development at the 4450 level comprises 202 feet of adit cross cut and 633 feet of drifting along or parallel to the vein structure. The work was done on the 4450 level which exposed the vein approximately 60 feet below the surface.

Assays reported in the east drift from drilling indicated 19.08 oz/t silver, 0.64% lead and 7.78% zinc along a strike length of 35 feet with a width of 5 feet. Also, the underground development demonstrated that stoping blocks of at least 200 feet in length and a five-foot width exist at Amy. Average grade associated with these stoping blocks was 20.74 oz/t silver, 5.17% lead and 7.46% zinc.

  • There is deemed potential for increasing the resource estimate at Amy from possible extensions of mineralization at depth and along strike in the immediate development area. Also, several other favorable areas are known to exist on the property and were yet to be explored.
  • Preliminary metallurgical studies completed on a test sample grading 20.74 oz/t silver, 5.17% lead and 7.46% zinc provided recoveries of 90% silver, 90% lead and 92% zinc in conventional flotation test in combined zinc and lead concentrate cycles.
  • Surface development and drilling at Amy to date includes:
    • 300,000 line feet of geochemical, EM and magnetometer surveying;
    • 31,000 cubic feet of bulldozer trenching; and
    • 10,498 linear feet of diamond drilling.
  • Geochemical studies identified four distinct anomalies. The Amy Prospect is one of these (anomaly #1). A trench in anomaly #2 had assay results ranging as high as 150.5 oz/t silver, 47.7% lead and 1.9% zinc and the majority of trenching results in anomalies 1, 2 and 3 ranged up to 13 oz/t silver, 10.5% lead and 17.2% zinc.

In summary, the area of prospectivity at the Amy Property is significant covering an area of over four kilometers in length and widths varying from 500 to 1,300 meters. Combined with the existence of a high-grade historical resource in a developed prospect that remains open to expansion and has the potential for possible similar discoveries, Amy has above average upside exploration potential.

Note: The information on these showings and related non 43-101 compliant historic resources are summarized by the BC Minfile and were included in information provided by the Prospector to the Company prior to acquisition. The Company has also not verified these results at this time nor conducted a field visit due to winter conditions.

Silverknife Claims

The Silverknife Property lies one kilometer by road, immediately west of Coeur Mining’s Silvertip mine leases. Silverknife comprises of 2 mineral tenures covering approximately 538.3 hectares. The Silverknife prospect represents a zone of known silver-lead-zinc mineralization distal to, and stratigraphically lower than the Silvertip Deposit and more proximate to the Cassiar Batholith (heat source). This presents opportunities for the discovery of mineralization associated with chimney-type feeders and mantos that may be related to the SilverTip mineralizing event.

Approximately 30 holes (2,334.7 meters) of drilling was completed on the Discovery Zone that transects both the Silverknife tenures and the Silvertip leases. Drilling to date has identified that galena and sphalerite replacement of carbonates with variable thicknesses has occurred. The presence of a thick mineralized limestone unit (up to 150 meters in thickness) with an overlying graphitic caprock is thought to mimic the dolomite-shale cap of the Silvertip deposit. Historical reports note that there is also potential to expand this zone along structures parallel to the Silver Creek Fault.  Lead isotope studies have confirmed the genetic connection of this mineralization to the Silvertip deposit located approximately 700 meters east of the claims.

Other opportunities for potential mineralization within the southwestern portion of Silverknife tenures are yet to be investigated. In this area of the property, the McDame dolomite is overlain by the Sylvester Formation. This contact is where the mineralization is located at Silvertip and provides a possible large area over which manto-type mineralization might be discovered.

In addition, 30.25 line kilometers of induced polarization surveys and 1,115 soil samples at 25 meter intervals in the central portion of the property have served to identify six anomalous areas. Four of the anomalies are silver-lead-zinc targets. None of these targets are yet to be extensively investigated.

Silverknife therefore represents an excellent target for a carbonate replacement style deposit similar to the adjacent Silvertip Mine deposit.

Pursuit of a Joint Venture Partner and Current Efforts

CMC’s properties in the Rancheria South area have the potential to identify high grade silver-lead-zinc deposits that if developed could serve as a highly prospective alternate ore source for Coeur’s Silvertip mine. Rich geology and supportive mine development in British Columbia provide a highly positive outlook for the identification and development of resources at the Rancheria South Project.

Copper-Gold Polymetallic Projects in Newfoundland

CMC Metals has a robust portfolio of copper-lead-silver projects in Newfoundland in close proximity with Newfound Gold’s Queensway project. The company intends to commence preliminary work on the projects in the fall of 2021.

Bridal Veil Claims

Bridal Veil consists of 234 claims (3,992 hectares) with the property transected by the Trans-Canada Highway and located approximately 10 kilometers east of the community of Gander. CMC has an option to earn a 100% ownership of the property

Geologically the property is located within the Gander Zone that is currently being subjected to a high level of exploration activity as a result of the recent significant gold discoveries by Newfound Gold within their Queensway Project.

To date, exploration efforts at Bridal Veil have been limited to less than 15% of the overall property, but yet have served to identify several mineralized showings containing high grades of copper, silver, lead and other metals. The property has also been described as having potential to host a gold deposit.

Highlights of exploration results to date include:

  • historic grades associated with specific mineral occurrences on the property sampled in 2010 are as follows:
Bridal Veil: 4.6% copper, 5.2% lead and 1.0 oz/t silver
Abbott’s Ridge: 9.4% copper, 1.0% lead and 0.6 oz/t silver
Hidden Outcrop: 4.95% copper, 3.2% lead and 5.4 oz/t silver

0.21% copper, 0.85% lead and 1.13 oz/t silver

Meggan’s Rise: 1.74% copper, 8.4% lead and 7.8 oz/t silver
First Burnt Pond: 0.93% copper, 10.2% lead and 5.7 oz/t silver
  • Lithogeochemical analysis and assays have identified mineral indicators that can be used to identify additional mineralization on the property. Gold, silver, lead, bismuth, and to a lesser degree molybdenum and tellurium correlate with copper. There are also broad correlations of bismuth, gold and lead with silver and bismuth correlates with gold.
  • Recent exploration efforts further examining the nature of the alteration and quartz stockwork zones, identified anomalous gold (i.e., 3.75 g/t in a grab sample). This is considered to demonstrate the potential for gold mineralization along with possible significant amounts of copper, lead and silver.
  • An induced polarization geophysical survey covering a small part of the southern portion of the property, identified an anomalous area that is yet to be explained and warrants further exploration by prospecting, trenching and/or drilling.
  • The northeast Gander Lake Subzone has received little exploration attention despite its geological similarities to the polymetallic (Cu-Ag-Au-Sb-Bi-W-Mo-In) mineralized and lithological correlatives in the Gander Zone of New Brunswick;

Collectively, within the explored portion of the Bridal Veil property (and in this part of the Gander Lake Subzone), most examples of mineralization in indications, showings and prospects, are characterized by epigenetic, structurally controlled, shear-zone hosted veins and vein breccia systems having a polymetallic arsenic-stibnite-gold-silver +/- copper +/-lead +/- zinc +/- molybdenum +/- tungsten +/- bismuth bearing character.

The property is vastly underexplored and merits advanced exploration to define drill targets.

Terra Nova Claims

The Terra Nova property consists of 71 claims located 30 kilometers northwest of Port Blandford in central Newfoundland. Access is from the town of Terra Nova via 12 km of transmission line road built for the Lower Churchill Falls power development. CMC has an option to earn a 100% ownership of the property.

The property lies within the Gander Zone. Highlights of the property include:

  • The property currently comprises of five mineralized showings: (i) the Copper Vein; (ii) Nancy’s gold vein showing; (iii) New Alteration Zone; (iv) the Silver Pit; and, (v) the Galena Vein Showing.
  • A grab sample collected at the Copper Vein Showing produced 354 ppb Au, 43.8 g/t Ag, 2.33% Cu and > 1,000 ppm W.
  • A grab sample at Nancy’s Gold Vein Showing have produced 6,812 ppb Au, 159.6 ppm Ag, 1,562 ppm Cu and > 1,000 ppm W.

The Silver Pit, looking east-northeast.

  • Samples collected from the Galena Showing have reported assays values of 953 ppb Au, 59.8 g/t Ag, 7.2 % Pb, and > 1,000 ppm W.

  •  Galena Vein Showing. A) Transmission Line Crossing the Terra Nova Property, looking northwest; B) Galena Vein in Outcrop; C) Sample TN-20-08.

An alteration area of 12 square kilometers has been identified at Terra Nova and to date has been subjected to limited exploration. The potential has the potential to host mesothermal gold-polymetallic deposits.

Logjam – A Polymetallic Property in Yukon Available for Option

Logjam Claims

CMC’s 100%-owned Logjam property in the Yukon hosts over ten high-grade vein occurrences containing gold-silver-lead-zinc +/-bismuth +/- tungsten mineralization. The property has been subjected to exploration drilling (approximately 2,971 meters) and includes an historic non-compliant 43-101 resource of 70,144 tonnes with impressive grades of 3.02 g/t gold, 392.2 g/t silver, and 2-3% lead and zinc. CMC is willing to option the property in order to advance exploration efforts on it as it focuses on its flagship silver-lead-zinc properties in the Rancheria silver district.

Company Goals

CMC has established attainable goals for all of its projects.

At its flagship Silver Hart Project the goal is to focus on expanding resources with the aim to warrant a Preliminary Economic Assessment of the project by late 2022/early 2023.

At the Rancheria South Project, their goal is to identify a joint venture partner to undertake a resource evaluation program aimed at delineating sufficient resources to warrant development plans leading to the possible sale of ore to the nearby Silvertip mill owned by Coeur Mining Inc.

Early-stage exploration projects in Newfoundland, including Bridal Veil and Terra Nova present significant opportunity for polymetallic-gold discoveries. CMC is willing to entertain partnership opportunities on these projects.

Logjam is now available for option.

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Fortuna regrets to report a fatality at the Lindero Mine, Argentina

Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) regrets to report that a fatality involving a worker employed by the Company occurred yesterday at the Lindero Mine located in Salta, Argentina.

The unfortunate accident occurred at the conveyor stacking system and there were no other injuries associated with the incident. The Company has notified the appropriate government and local authorities and an investigation to determine the cause of the accident is currently underway. Stacking activities at the heap leach pad have been temporarily suspended for approximately 48 hours and the operation is also taking a safety stop for a day. The Company will provide support, assistance and counseling to the worker´s family as they go through this difficult time.

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Activities Report for Quarter Ended 31 DECEMBER 2021

Activities Report for Quarter Ended 31 DECEMBER 2021

GALENA MINING LTD. (“Galena” or the “Company”) (ASX:G1A) reports on its activities for the quarter ending 31 December 2021 (the “Quarter”), primarily focused on construction of its 60%- owned Abra Base Metals Mine (“Abra” or the “Project”) located in the Gascoyne region of Western Australia.

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Nevada Silver

Nevada Silver Corporation Reports Final Assay Results From 2021 Drilling at the Corcoran Silver-Gold Project, Nevada, USA

Nevada Silver Corporation ("NSC" or the "Company") (TSXV:NSC) is pleased to provide a final update on assay results from the 2021 diamond drill program at its 100% owned Corcoran Silver-Gold project ("Corcoran" or the "Project") in Nevada, USA. The results are from completed assay data in NSC's recent 3,040-meter diamond drilling program at the outcropping epithermal Corcoran Silver-Gold deposit located 80 miles north of Tonapah in southern Nevada

NSC has received analytical results from the last diamond (HQ) drill holes (CC21-08, 09, 10, 11, 12, 15 and 16) of the company's maiden drill campaign. Highlights of assay data for these holes include:

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Fortuna drills 20.2 g/t gold over 18.2 meters at the Séguéla gold Project, Côte d'Ivoire

Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to provide an update of its Sunbird exploration program at the Séguéla gold Project located in Côte d'Ivoire. In September of 2021, the Company made a construction decision to proceed to build a 3,750 tonnes per day open pit mine at the Séguéla gold Project, with first gold pour expected in mid-2023 (refer to Fortuna news release dated September 29, 2021 ).

Paul Weedon, Senior Vice President of Exploration, commented, "Exploration results at Séguéla continue to support the high-grade trend we have seen from the recent drilling at the Sunbird Prospect, and with all results now to hand, the Company is looking forward to seeing a maiden inferred resource estimate for Sunbird." Mr. Weedon continued, "Mineralization at Sunbird remains open along strike and at depth, where coarse visible gold seen in diamond drill core is supported by high gold assay grades, with the high-grade core extending more than 250 meters in strike length." Mr. Weedon concluded, "Significant upside remains at depth and additional drilling has commenced to test this potential."

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SilverCrest's Las Chispas Construction Update - Tracking Ahead of Schedule and On Budget

TSX: SIL | NYSE American: SILV

SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to provide an update on construction activities at the Company's Las Chispas Project ("Las Chispas" or the "Project") located in Sonora, Mexico . All currency amounts herein are presented in United States Dollars, unless otherwise stated.

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