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CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5N)(OTC PINK:CMCZF); (the "Company") is pleased to announce that field crews have been mobilized to their polymetallic Bridal Veil Property in Newfoundland, Canada. Bridal Veil is located 10 km east of Gander in the geological terrane called the Gander Zone which is an area of significant interest to explorationists due to the recent gold discovery at the Queensway Project owned by Newfound Gold. The Bridal Veil Property comprises of 126 claims (3,150 hectares) and lies within the Gander Zone and is underlain by sedimentary rocks of the Gander Group. Bridal Veil is an epigenetic, structurally controlled polymetallic target which has been noted to have the potential to host gold mineralization
Bridal Veil has had some promising results including several gold in till samples from regional government surveys, promising assays from several identified mineral occurrences, and an unexplained geophysical anomaly. Historical grab samples from mineralized zones have returned grades of up to 8.9% copper, 5.6% lead, 8.6 oz/t silver and 750 ppb gold and another grab containing 3.82 g/t gold. Other grab samples from the mineralized zones include:
| Bridal Veil: | 1.33% copper, 5.2% lead, 1.0 oz/t silver |
| Abbott's Ridge: | 8.5% copper, 1.0% lead and 0.6 oz/t silver |
| Hidden outcrop: | 0.29% copper, 3.2% lead and 5.4 oz/t silver |
| Growler: | 0.21% copper, 0.85% lead, and 1.13 oz/t silver |
| Meggan's Rise: | 0.75% copper, 8.4% lead and 7.8 oz/t silver |
Previous geophysical investigations included an Induced Polarization Survey and a Magnetometer Survey which served to identify anomalous areas that merit follow up exploration. To date only 20% of the property has been subjected to any work or reconnaissance efforts. The property is transected by both the Trans Canada Highway and the Trans Canada Trail system and also many of the claims are accessible by a network of trails.
Mr. John Bossio, Chairperson noted, "We are pleased to initiate exploration efforts at Bridal Veil. Newfoundland. Central Newfoundland is a hotbed of exploration activity and we are excited to now be able to start to examine Bridal Veil."
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 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.
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).
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. Eng
President, CEO and Director
Tel: (604) 670 0019
kbrewer80@hotmail.com
Suite 110-175 Victory Ship Way
North Vancouver, BC
V7L 0B2
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/666108/CMC-Metals-Mobilizes-Field-Crews-at-Its-Bridal-Veil-Property-in-Newfoundland
