VANCOUVER, British Columbia, Nov. 21, 2024 (GLOBE NEWSWIRE) — CMC Metals Ltd. (TSX-V: CMB) (Frankfurt:ZM5P)(“CMC” or the “Company”) is pleased to announce that it has identified additional high grade CRD-style silver-lead-zinc samples from trenches and a historic adit dump on its Amy Property in north-central British Columbia.
Samples were collected from the 4200 level adit dump and surrounding area with grades up to 643 g/t silver, 18.76% lead, 8.3% zinc, and 9.7% manganese (see Figure 1). Overall in three separate sampling and reconnaissance mapping efforts, 23 samples from a combination of outcrops, trench and dump samples have graded an impressive 977.5 g/t silver, 8.99% lead and 4.7% zinc which suggests that the area is characteristic of a very high grade and large CRD system with potential multiple stacked mantos.
Mapping efforts have also shown that the vein/manto systems have projected good extents of up to 1.7 km in strike length and an overall projected vein strike lengths on surface to date of over 2.6 kilometers in total (see Figure 2).
The company now plans to initiate permitting for a drill program in 2025 (see Figure 3). The initial drill program designed estimates a requirement for over 10,000 meters of drilling to conduct a first-pass of the projected vein systems. The Company intends to initially focus on the Amy Prospect where drilling and portal construction identified impressive widths of mineralization. Company geologists have not been able to verify the historical results due to the drill core not having been properly recorded and stored and the adits deemed impassable for safety reasons and therefore should not be relied upon in any manner.
In addition, the Company has 100% acquired from Mr. Steven Scott, prospector, BC Tenure 1109654 for 350,000 common shares subject to a 120 day plus one day hold period. The deal is subject to TSX approval. Tenure 1109654 is 64.86 ha in size and immediately adjoins the existing 100% company owned Amy tenures in the north central portion of the Property. The property now comprises a total of 954.4 hectares.
Mr. Kevin Brewer, President and CEO, noted, “By taking the Amy project to a drill ready stage over the past three years we have delivered our promise to our shareholders. We are consistently delivering on our projects and we are about to deliver our new corporate strategy for our remaining projects now that we have optioned the Silverknife Property to Coeur in a significant deal. I am very thankful to our hard working team and contractors who continue to enable us to implement our plans and provide highly promising prospects within the Rancheria Silver District.”
The Amy Property is located within the emerging Rancheria Silver District which is known to host numerous silver-lead-zinc occurrences and also includes the Silvertip mine (one of the world highest grade underground silver-lead-zinc mines) owned by Coeur Mining. Amy is located only 8 kilometers west of the Silvertip mine. It was actively explored in the early 1960’s and 1970’s but since that time has never been explored using modern exploration techniques. In 2021 CMC Metals also contracted SRK Consulting to compile all of the historic data from these early exploration efforts which will be utilized extensively in the planning and implementation of the 2025 and beyond drill programs at Amy.
Qualified Person
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 in the Rancheria Silver District include the Silver Hart Deposit and Blue Heaven claims (Yukon), Amy and Silverknife claims (British Columbia). Our polymetallic projects with potential for copper-silver-gold and other metals include Bridal Veil (central Newfoundland) and Logjam (Yukon).
On behalf of the Board:
“Kevin Brewer”
Kevin Brewer,
CEO, President and Director
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: (709) 327-8013
[email protected]
Suite 1000-409 Granville St., Vancouver, BC, V6C 1T2
Figure 1: Amy sampling results 2022-2024
Figure 2: Proposed Drill Program – Amy Property
Figure 3: New tenure on Amy claims
To be added to CMC’s news distribution list, please send an email to [email protected] or contact Mr. Kevin Brewer directly.
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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c93a610d-fc1d-42a5-aad1-b639041ee607
https://www.globenewswire.com/NewsRoom/AttachmentNg/3323ca0c-fd67-4902-837a-a067b4a3d4a3
https://www.globenewswire.com/NewsRoom/AttachmentNg/ce40d049-3dd6-4e21-8803-b6c2301b34bd
