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VANCOUVER, BC / ACCESSWIRE / October 14, 2021 / CMC Metals Ltd. (TSXV:CMB)(FRA:ZM5N)(OTC PINK:CMCXF); (the "Company") is pleased to announce that field crews have been mobilized to their polymetallic Terra Nova Property in Newfoundland, Canada. The Terra Nova property consists of 71 claims located 30 kilometers northwest of Port Blandford in central Newfoundland. Access is from the town of Terra Nova via 12 km of transmission line road built for the Lower Churchill Falls power development. CMC has an option to earn a 100% ownership of the property. The property lies within the Gander Zone which is an area of significant exploration interest as a result of Newfound Gold's Queensway gold project.
Terra Nova is an interesting property as it has a large alteration area of 12 square kilometers which to date has been subjected to limited exploration. The property is considered to have potential to host mesothermal gold-polymetallic deposits. The property currently comprises of five mineralized showings: (i) the Copper Vein; (ii) Nancy's gold vein showing; (iii) New Alteration Zone; (iv) the Silver Pit; and, (v) the Galena Vein Showing.
A grab sample collected at the Copper Vein Showing produced 354 ppb gold, 43.8 g/t silver, 2.33% copper and > 1,000 ppm tungsten;
A grab sample at Nancy's Gold Vein Showing have produced 6,812 ppb gold, 159.6 g/t silver, 1,562 ppm copper and > 1,000 ppm tungsten; and
Grab Samples collected from the Galena Showing have reported assays values of 953 ppb gold, 59.8 g/t silver, 7.2 % lead, and > 1,000 ppm tungsten.
Recent prospecting efforts have served to identify additional mineralized areas related to the existing showings and samples have been submitted for assay,
Mr. John Bossio, Chairperson noted, "We are pleased to initiate exploration efforts at Terra Nova Veil, Newfoundland. Central Newfoundland is a hotbed of exploration activity and we are excited to now be able to start to examine Terra Nova."
Kevin Brewer, President and CEO of the Company will be providing a detailed update on 2021 exploration activities on Tuesday October 19, at 3:45PM (Eastern Standard Time). We look forward to all interested parties or persons to join us by registering for the presentation.
People can register to attend the conference here:
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 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, 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
110-175 Victory Ship Way
North Vancouver, BC V70B2
To be added to CMC's news distribution list, please send an email to firstname.lastname@example.org 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.
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