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Canadian Energy Materials Corp
Symbol CHEM
Shares Issued 25,905,016
Close 2019-10-16 C$ 0.05
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Canadian Energy begins drilling Grindstone project

2019-10-17 08:07 ET - News Release

Mr. Michael Schuss reports


Diamond drilling has commenced on Canadian Energy Materials Corp.'s 100-per-cent-owned Grindstone nickel-copper-cobalt-platinum-group-metal project in New Brunswick.

The first phase of the drill program will focus on three high-priority target areas identified through the company's 2018 mobile magnetotelluric (MMT) airborne survey. These target areas were selected in conjunction with the company's geophysical consultant, Campbell & Walker Geophysics Ltd., and are additionally supported with coincident nickel and cobalt stream sediment and soil geochemical anomalies. Approximately 1,200 metres of drilling are expected for this first phase.

The Grindstone project was previously explored by Noranda in the early 1990s, which completed regional airborne magnetics and ground geochemical surveys before undertaking a shallow five-hole diamond drill campaign. On reinterpretation of both these historical data and the 2018 MMT airborne data, it became clear to the company that Noranda's drilling did not come close to intersecting the MMT target zones, nor did it explain the highly anomalous silt and soil geochemistry.

The company will provide additional updates on the drill program in the coming days, as information becomes available.

Thomas Hasek, PEng, a technical adviser of Canadian Energy and a qualified person (QP) under National Instrument 43-101, has reviewed and approved the technical information provided in this news release.

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