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VANCOUVER, BC / ACCESSWIRE / January 6, 2022 / 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:
*Samples were also elevated in concentrations of copper, iron and manganese
Mr. Kevin Brewer, President and CEO noted, "We are very excited about the potential of the Amy Property, and we now intend to advance the project to the drill-ready stage. Historical work demonstrated that Amy has the potential to host a high-grade carbonate replacement deposit ("CRD"). The presence of stibnite in the sampling has pleasantly surprised us and we will be studying that closely. Our limited reconnaissance efforts confirmed that extensive mineralization exists at the surface and from material that came out of the adits. We are now intending to initiate a detailed compilation of the data relating to the property from extensive prospecting, geological mapping, geochemical sampling and geophysical surveys to prepare for advanced exploration efforts on the property in 2022. Permits will be filed with the Government of British Columbia for upgrading of the access roads to the site, trenching, and drilling.
Mr. John Bossio, Chairperson noted, "Being in such close geographic proximity to a silver-lead-zinc mill Amy has become a very attractive target for CMC. This project has the right geology, the right geophysics, and is in the right place. It has great exploration potential to host a significant high-grade silver-base metal deposit in the Rancheria Silver District. Our focus at Amy will be resource definition and medium- term development. Once we take the project to drill-ready stage we will entertain a possible joint venture as our main focus remains the flagship Silver Hart project."
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 43101). 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 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, 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.
To be added to CMC's news distribution list, please send an email to email@example.com 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.
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