Base Metals

CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(OTC PINK:CMCXF) ("CMC" or the "Company") is pleased to announce that Intelligent Exploration ("IE') has completed a detailed interpretation of the SkyTEM airborne geophysical survey that recommends drill testing of Targets T-1 and T-4 at its flagship Silver Hart Project, south-central Yukon. Dr. Chris Hale and John Gilliatt of IE have recommended an initial 5,000-meter drill program to provide up to three drill holes on sections spaced 100 meters apart over each conductor

Chart, surface chartDescription automatically generated

Figure 1: Total Magnetic Intensity ("TMI") Map: The magnetic data divide the Silver Hart and Blue Heaven properties into areas of higher TMI (likely underlain by intrusive rocks - Cassiar Batholith) and low TMI (indicated by green and blue colors - likely sedimentary rocks. Note that that SkyTEM Targets T-1 and T-4 occur within the lower TMI areas (sedimentary domains), at or near the Batholith contact.

Highlights and key conclusions of the report include:

  • Both targets appear as distinct conductive bodies within sedimentary rocks, close to the contact with the Cassiar Batholith. They coincide with significant silver-lead-zinc anomalies;
  • Both targets are in close proximity to the Main Zone vein system which has been the focus of exploration on the property to date. These veins potentially represent a feeder system for skarn and or carbonate replacement ("CRD") deposits;
  • The conductive zone T-1 has been interpreted to dip moderately towards the southwest for up to 1,100 meters, with a thickness of up to 250 meters, and a strike extent of up to 800 meters (see Figure 6 attached). In many places it is near surface, possibly providing an explanation for the very strong silver anomalies in that area; and,
  • The conductive zone T-4 has been interpreted to have a more consistent, shallow to moderate dip to the northeast, becoming sub-horizontal below 200 meters depth. It is interpreted to extend to ~600 meters down dip, with a thickness of up to 150 meters and a strike extent over 400 meters. This area is located immediately northeast of the mineralized vein system of the Main Zone and north of an area where mineralized showings have been exposed in trenches.
ChartDescription automatically generated

Figure 2: The highly prospective area within the Silver Hart and Blue Heaven claims is outlined. It represents a significant corridor of rapidly changing magnetic gradients running in a NNW-SSE direction that signifies the contact between intrusive rocks of the Cassiar Batholith (i.e, the "heat source) with sedimentary sequences that are most prospective for skarn and/or carbonate replacement deposits (After Hale and Gilliatt, 2022).

IE also noted that the accompanying magnetic survey was especially effective in distinguishing intrusive rocks of the Cassiar Batholith. These have a higher magnetic susceptibility than the comparatively non-magnetic sedimentary rocks that potentially host skarn and/or CRD deposits (see Figure 1). Magnetic gradient data have also identified a significant area of high prospectivity that extends from the Silver Hart property southeastwards onto the Blue Heaven claims (see Figure 2). The SkyTEM electromagnetic data show several large conductive areas including the T-1 and T-4 targets. Moderate, laterally extensive conductivity targets at shallow depths appear to be hosted within sedimentary rocks, adjacent to the Cassiar Batholith (see Figure 3). A series of figures is presented with this release to highlight the proposed exploration approach at Silver Hart for the 2022 exploration season.

Chart, surface chartDescription automatically generated

Figure 3: Laterally extensive, moderate conductivity areas are shown as reddish anomalies. They are significant in size and occur within the Silver Hart and Blue Heaven claims. It is important to note that these conductivity areas are adjacent to the contact between the sedimentary sequences and the Cassiar Batholith (i.e, the "heat source") providing a prospective setting for skarn and/or carbonate replacement ("CRD) deposits.

Mr. John Bossio, Chairman noted, "The 2021 exploration program has identified great new targets to expand on our known high-grade mineralization. We are very pleased with the work completed by IE as it gives us a high level of confidence to proceed with our drill program at Silver Hart this summer."

Mr. Kevin Brewer, President and CEO notes, "The potential for skarn and carbonate replacement deposits at Silver Hart has been noted by geologists since the mid 1980's. For the first time we have identified large conductors with coincident soil geochemical anomalies. Our exploration strategy can evolve to pursue the potentially larger deposits these reflect, in addition to the numerous targets for high grade silver-lead zinc veins that remain. We are excited by the compelling case that our technical team has presented to drill the T-1 and T-4 targets this season."

Figure 4: Soil Anomalies Over Proposed Drill Targets: Significant silver anomalies have been identified from soil geochemistry survey efforts in the vicinity of the T-1 and T-4 targets at Silver Hart. Strong to very strong silver anomalies (>500ppb) are represented by the purple, red and orange dots and are associated with each of these targets. The proposed drill plan over the T1 and T4 Conductors is indicated along with the location of sample cross sections indicated in Figures 5 and 6. Note that the Main Zone vein traces, which have been the focus of exploration to date, are indicated by the red lines. The veins are proximal to the conductors and may represent "feeders". The significant scale of the current targets is evident.

Figure 5: A section of the proposed drill plan on the T1 Conductor providing a perspective of the proposed drilling approach and testing of the conductor.

Figure 6: A section of the proposed drill plan on the T4 Conductor providing a perspective of the proposed drilling approach and testing of the conductor.

Qualified Person

Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining 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 high grade polymetallic deposits in Yukon, British Columbia and Newfoundland. Our polymetallic silver-lead-zinc CRD prospects include the Silver Hart Deposit and Blue Heaven claims (the "Silver Hart Project") and 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, Terra Nova and Rodney Pond all of which are 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 West 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 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 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/689239/Positive-Geophysical-Survey-Results-at-Silver-Hart-are-Integrated-into-the-Design-of-the-2022-Drill-Program

News Provided by ACCESSWIRE via QuoteMedia

CMB:CA
CMC Metals Ltd. Closes C$3,151,780 Non-Brokered Private Placement

CMC Metals Ltd. Closes C$3,151,780 Non-Brokered Private Placement

CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(CMCXF:OTC PINK) ("CMC" or the "Company") is pleased to announce that the Company has closed a non-brokered private placement (the "Offering") for gross proceeds of C$3,151,780.18 from the sale of 13,761,998 non-flow-through units of the Company (each, a "NFT Unit") and the sale of 6,396,944 flow-through units of the Company (each, a "FT Unit

Each FT and NFT Unit consists of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one half of one transferable share purchase warrant (each full warrant, a "Warrant"). Each Full Warrant entitles the holder thereof to acquire one common share of the Company (each, a "Warrant Share") at a price of C$0.20 per Warrant Share on or before April 19, 2024. The FT, NFT and Warrant Shares will be subject to a hold period ending on August 20, 2022.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
CMC Commences Magnetometer Surveys on its Newfoundland Properties

CMC Commences Magnetometer Surveys on its Newfoundland Properties

CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(OTC PINK:CMCXF) ("CMC" or the "Company") is pleased to announce that ground magnetometer surveys have commenced on its Newfoundland properties in the Gander Zone. McKeown Exploration Services Ltd. of St. John's Newfoundland have been contracted to conduct approximately 210-line kilometers of ground magnetometer surveys on the Bridal Veil Property (approximately 155-line kilometers); Terra Nova (approximately 35-line kilometers) and Rodney Pond (approximately 20-line kilometers). Data will be collected over the next four weeks and then interpreted by Dr. Chris Hale and John Gilliatt of Intelligent Exploration Services. Dr Hale is on the advisory board of CMC Metals Ltd. and is responsible for the design and interpretation of all geophysical surveys completed by the Company

Ground magnetic surveys can help provide detection of mineralization associated with large- and local-scale structures (faults, dykes, shear zone etc,). The survey data can provide information about variations in the near surface geology as well as at depth. Ground magnetic surveys are also used to identify demagnetised zones which are an indicator of areas that have been subjected to hydrothermal activity. The heat of hydrothermal activity and fluid movements often demagnetizes rocks. Another benefit of these surveys is that they can cover a lot of area in a relatively inexpensive manner.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
CMC Files Drill Permits for Amy and Silverknife Properties, Rancheria Silver District, Northern BC

CMC Files Drill Permits for Amy and Silverknife Properties, Rancheria Silver District, Northern BC

CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(OTC PINKS:CMCZF) ("CMC" or the "Company") is pleased to announce that it has completed filing for exploration applications for the Amy and Silverknife projects. The permits include a wide range of proposed exploration activities on both properties including but not limited to geophysical and geochemical surveys, access road upgrading, new trailroad development, drill and clearing pad construction and drilling. The permits are filed with the Ministry of Energy, Mines and Petroleum Resources, Government of British Columbia and permit reviews for multi-year permits of this nature typically take in the range of 4-6 months to complete

At Silverknife, in the southern part of the property, our intent is to conduct geological mapping and prospecting to determine the extent of specific prospective geological units that are known to host the Silvertip Mine owned by Coeur Mining Ltd. The results of those efforts will guide decisions on advanced exploration in that area of the Property. However, most of the proposed exploration is planned to take place in the northern part of the Property to follow up on four known geochemical anomalies in that area and possible extensions of the existing Silverknife prospect identified by the 2021 SkyTEM airborne geophysical survey. A gravity survey will be initiated as soon as spring conditions allow, and the results of that survey are then expected to guide drill site selection. The Silverknife Prospect is located directly on the western boundary of the Silvertip Mining claims and the mine and mill are located approximately 1 km east-southeast of the Prospect.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
CMC Options a Third High-Grade Copper-Silver Property in the Highly Prospective Gander Subzone in Central Newfoundland - Rodney Pond

CMC Options a Third High-Grade Copper-Silver Property in the Highly Prospective Gander Subzone in Central Newfoundland - Rodney Pond

CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(OTC PINK:CMCZF) ("CMC" or the "Company") is pleased to announce that it has acquired an option to earn up to a 100 percent working interest in the Rodney Pond Property in the highly prospective Gander Subzone in Central Newfoundland, subject to an option agreement (the "Agreement") with Nancy, Stephen and Larry Rogers (the "Prospectors") of Hare Bay, Newfoundland. Terms of the option agreement are subject to TSX Venture Exchange approval

Pursuant to the terms of the Agreement, the Company will pay $10,000 (CDN) and 50,000 common shares of CMC Metals Ltd. upon Execution of the Agreement and additional payments will be made on the first anniversary and in the following years to the Prospectors as follows:

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
CMC Metals Identifies High Grade Silver-Lead-Zinc-Stibnite Samples at its Amy Property, British Columbia

CMC Metals Identifies High Grade Silver-Lead-Zinc-Stibnite Samples at its Amy Property, British Columbia

CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5N)(OTC PINK:CMCZF) ("CMC" or the "Company") is pleased to announce that recent exploration has identified high grade polymetallic samples at its Amy property in northern British Columbia. During a brief reconnaissance of the property at the end of the 2021 exploration season. The Amy Property is road accessible and located only 8 kilometers west of the Silvertip mine and mill owned by Coeur Mining Limited in the southern part of the Rancheria Silver District. The property was subjected to considerable exploration in the 1960-1985 period that included adit development, the discovery of the Amy prospect, exploration drilling, numerous mineralized areas, and an anomalous area in excess of 4 kilometers in strike length with widths from 300-1,300 meters

Five grab samples were collected from various surface trenches and the adit dump on the Amy Property and resulted in the following assays:

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

MAG Reports AGSM Results

MAG Silver Corp. (TSX NYSE American: MAG) ("MAG" or the "Company") reports that at its annual general and special meeting (the " AGSM ") held on June 22, 2022, MAG's Shareholders approved by majority: to elect all eight directors standing for election; to re-appoint Deloitte LLP as auditors of the Company; to support the Company's approach to executive compensation; and to approve the continuation, amendment and restatement of the Company's Shareholder Rights Plan.

Detailed results of the total shares voted at the AGSM are set out below.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Silver Hammer President Morgan Lekstrom

Silver Hammer President Morgan Lekstrom: Well Hedged to Meet Future Demands

Silver Hammer Mining President & CEO Morgan Lekstromyoutu.be

Keep reading...Show less
Denarius Announces Completion of the In-Fill Drilling Program at Its Polymetallic Lomero-Poyatos Project in Spain

Denarius Announces Completion of the In-Fill Drilling Program at Its Polymetallic Lomero-Poyatos Project in Spain

  • Drilling program confirms widths and grades of intersections from previous drilling campaigns.
  • Preliminary results from recently finalized geophysical surveys confirm the potential to extend the known Lomero-Poyatos deposit down-dip and to find new deposits along strike in two zones to the east.

Denarius Metals Corp. ("Denarius" or "the Company") (TSXV: DSLV; OTCQB: DNRSF) announced today that it has received complete assays for thirty-one additional drill holes, mainly in-fill holes, totaling approximately 8,236 meters, from the ongoing surface diamond drilling program on its polymetallic Lomero-Poyatos Project in southern Spain. To date, Denarius has completed approximately 22,543 meters of drilling in 75 drill holes, including twinning of historical drill holes. The validation and in-fill phases, totaling 66 holes and representing 81% of the initial program, are now complete. There are three drill rigs onsite continuing with the resource expansion portion of the initial program. In addition to the diamond drilling, the Company has received preliminary results from the recently completed geophysical surveys that confirm the potential to extend the known Lomero-Poyatos deposit down-dip and to find new deposits along strike to the east in two zones as previously announced based on discoveries made during field mapping.

The helicopter-borne time-domain electromagnetic ("TDEM" or "TEM") and ground-based gravimetric surveys were completed in mid-April and early May, respectively.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
silver bars

Investing in Silver Bullion in Australia

When one thinks of investing in precious metals, gold is often seen as the main option owing to its historical profile as a safe haven metal and hedge against inflation and stock market volatility. However, investors should also consider silver as an attractive alternative to gold with equal if not greater upside potential.

In an February interview with Investing News Network, David Morgan of the Morgan Report said he expects silver to break through the US$30 per ounce mark in 2022 and trade in the US$33 range. That would represent a gain of more than 30 percent over the current price of silver which was trading in the range of $24 to $25 as of April.

Keep reading...Show less

SilverCrest Reports Results of 2022 AGM

TSX: SIL | NYSE American: SILV

 SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to announce the results of its Annual General Meeting of Shareholders ("AGM") held in Vancouver, BC on June 15, 2022 .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×