Vancouver, BC. / TheNewswire / October 31, 2017 - CMC Metals Ltd. - ("the Company") (TSX-V: CMB) - is pleased to announce previously unreleased drill results from a 2010 drilling program at the Company's 100% owned Silver Hart silver-zinc-lead property in southwest Yukon. A 2017 drill program was completed in July 2017 and consisted of 843m of drilling. Core samples were collected from the 2017 program, and results were announced on October 11, 2017. Additionally, on-site core from a 2010 diamond drilling program also was collected and sent for assaying. These previously unreleased 2010 assay results intersecting significant intervals are summarized in the following release.
Michael Scholz, Director of CMC commented: "We are pleased to have finally had the core samples from our 2010 diamond drill program analyzed. These favorable results are encouraging as they suggest we are in the right area and with the results from the 2017 drill program showing favorable geology, we are poised to have a breakout year in 2018. The results from this program certainly support further drilling on the property."
A diamond drill program was completed at the Silver Hart property in 2010. The results of the drilling were not publicly released and the company did not have a record of drill logs or assay results. The assay results have been obtained from the laboratory, ALS Chemex, North Vancouver, BC.
Longford Exploration Services ("Longford") geologists located the drill core from the 2010 drilling program, transported it to the logging facility where they logged the core, recorded previous sampling intervals, and collected additional samples.
A total of 814 m of diamond drilling was completed in 2010 at the Silver Hart property. Holes targeted the TM, KL and S zones. Twenty-one holes were completed to depths ranging from 19 to 56 m. Two holes were vertical and the remaining were inclined, ranging from -44 to -81o.
Longford recorded 59 sample intervals from the 2010 campaign. The average length of the samples was 0.29 m and ranged from 0.05 to 0.95 m in length. Every fifth sample was a QC sample and only four sample numbers could not be accounted for within the numeric sequence submitted in 2010.
A total of 92 additional half-core samples were collected. Most of the samples were collected adjacent to previous sampling, however some were sampled through previous sample intervals. In these instances, it was sometimes only possible to collect quarter-core samples. Ten QC samples consisting of CRMs and coarse blanks were inserted into to the sample stream prior to shipping samples to the prep-lab.
Significant intersections from 2017 sampling of 2010 drill core:
Significant intersections from 2010 sampling
About the Silver Hart Property
The Silver Hart Property is located within the Rancheria District, YT, Canada. Diamond drill holes drilled in 2017 targeted the M, KL, and TM zones. Drilling was designed to confirm and infill historic results and extend known mineralization. Fourteen holes were completed to depths ranging from 43m to 79m. One hole was vertical and the remaining were inclined, ranging from -45o to -70o. The Company has a 30-man camp on the property. Certain bulk samples have been taken historically, and float concentrates prepared and sold. The Company did not undertake work on the property from 2013 - 2016 inclusive. The property is located approximately 60km north of the Silvertip mine in BC. The Silvertip mine has been recently bought by Coeur Mining of Chicago, IL for initial consideration of approximately US$200 million, consisting of approximately US$146.5 million of cash, and approximately US$38.5 million of Coeur shares (approximately 4.3 million new shares) an assumption of US$15 million of existing debt (announced September 11th, 2017).
Comparison of twin samples of 2010 core collected in 2017 with 2010 results
*The reader is cautioned that all the above tabled intercepts are as-drilled intercepts and are not equivalent to true widths.
Significant intervals were determined using a 300g silver equivalent cut-off grade calculated using the following assumptions: Ag $18/oz, Zn $1.20/lb, Pb $1.00/lb. The Silver Equivalent Formula assumes 100% recovery of all metals.
All samples collected in 2017 were sent to Bureau Veritas Mineral Laboratories in Whitehorse, Yukon. Samples were crushed, split and pulverized to -200 mesh, underwent aquaregia digestion and multielement ICP-ES analysis as well as lead collection fire assay using a 30g charge. Overlimit lead was assayed using classical titration.
Samples collected in 2010 are believed to have been collected using best industry practices under the supervision of Don Wedman, P.Geo. Four duplicate samples of the 2010 drill core were taken to enable comparison of the 2010 results with 2017 results. 2010 samples were submitted to ALS Canada Ltd.
About CMC Metals.
CMC Metals Ltd. is a mineral exploration company focused on opportunities in the United States and Canada that offer potential for near-term cash flow. The Company is led by a seasoned team with experience developing assets to production. CMC hold a 50% interest in the Radcliff Gold property (formerly the World Beater Mine) in California located 9 Miles (14 km) north of the Briggs Gold Mine in the Panamint range in Inyo county, Southwestern California. The Radcliff covers 1,654 acres (670 Ha) comprising 10 patented claims, 5 unpatented mill sites and 84 unpatented mine claims. The Company's Silver Hart Property is a Silver-Lead-Zinc asset located in the Yukon, 132 km west of Watson Lake, and covers 2,200 hectares and 116 Contiguous and partial claims.
CMC also recently announced that it has acquired a 100 percent interest in the Golden Point gold prospect strategically located in British Columbia's Golden Triangle bordering Teck Resources. The Golden Point Project comprises 87 claims totalling 1,518 hectares in the Skeena Natural Resource Region (Liard Mining Division).
On behalf of the Board:
"Michael C. Scholz"
Michael Scholz, Director
CMC METALS LTD.
For further information or to be added to CMC's news distribution list, please contact Mr. Michael Scholz at Tel: 604-605-0166 email: firstname.lastname@example.org
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 includes 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 number of planned holes, the anticipated drilling of 800 - 850 meters, and the expected completion of field-based work targeted to occur by June 30th, and that evaluating the condition of the existing camp, equipment, core storage facilities and historic workings and road infrastructure to assist with future work plans, all 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 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, 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."
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