09:43:58 EDT Thu 28 Mar 2024
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CMC Metals Ltd (3)
Symbol CMB
Shares Issued 70,590,358
Close 2021-04-15 C$ 0.185
Market Cap C$ 13,059,216
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CMC Metals identifies anomalous Cu, Bi at Bridal Veil

2021-04-15 13:33 ET - News Release

Mr. John Bossio reports

CMC ANNOUNCES POSITIVE PRELIMINARY EXPLORATION RESULTS AT ITS BRIDAL VEIL PROPERTY IN NEWFOUNDLAND

CMC Metals Ltd. has released positive preliminary exploration results from a reconnaissance site visit conducted on its Bridal Veil property in Newfoundland.

A brief visit involving the sampling of known showings on the property resulted in the identification of an extensive area of anomalous copper and bismuth mineralization with minor silver. The area has coincident electromagnetic anomalies that are yet to be explained. Values from grab samples of veined psammitic metasediments ranged from 0.041 per cent to 3.473 per cent copper, 0.74 to 136.96 grams per tonne bismuth and 1,069 to 1,9340 parts per billion silver. Historical sampling have returned grades of up to 9.4 per cent copper, 10.2 per cent lead, 7.8 ounces per ton silver and 3.75 g/t gold. The Bridal Veil mineral occurrences have been previously identified as being related to an epigenetic copper-silver plus/minus lead and gold orogenic vein system hosted in deeply dipping shear zones. The property is transected by the Trans-Canada Highway approximately 10 kilometres east of Gander and 15 km east of Newfound Gold's Queensway project.

Kevin Brewer, PGeo, president and chief executive officer of CMC, noted: "We are highly encouraged about these preliminary results at Bridal Veil. Less than 15 per cent of the property area has been explored to date. At this stage, it is clear we need to better understand the mineralizing system as the tenure of mineralization is very encouraging.

"It is now a matter of determining the extent, possible continuity and subsurface potential of this mineralization throughout the property. Our plans are to further examine this property in the fall after work is completed on our flagship property at Silver Hart in Yukon."

Qualified person

Mr. Brewer, a registered professional geoscientist, is the company's president, chief executive officer and director and is the qualified person (as defined by National Instrument 43-101) for this release and its contents. 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 is a growth-stage exploration company focused on opportunities for silver in Yukon and British Columbia, and polymetallic deposits in Yukon and Newfoundland. Its silver-lead-zinc prospects include the Silver Hart deposit and Blue Heaven claims, and the recently acquired Rancheria South, Amy and Silverknife claims. Its polymetallic projects with potential for copper-silver-gold and other metals include Logjam (Yukon), Bridal Veil and Terra Nova (both in Newfoundland).

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