Silver Hart Class 3 Exploration Application Filed October 16, 2013
Silver Hart Class 3 Exploration Application Filed
Vancouver, B.C.: CMC Metals Ltd. (the "Company") is pleased to announce that a 5-year, Class 3 Exploration application was filed for review and approval with the Yukon Territorial Government (YTG). The proposed exploration includes an air TEM geophysical survey over the entire claim block, expanded geochemical soil survey, RC and core drilling, trenching shallow showings, and metallurgical bulk sampling. There are a number of exploration goals that are set to be evaluated. These include a broad geological model and anomaly targeting with the TEM survey, anomaly detail targeting with geochemical soil surveys, anomaly testing with RC and core drilling, trenching of shallow showings to evaluate continuity and grade plus bulk sampling to test processing characteristics at oversea facilities for long term contracts. The bulk sampling will also evaluate the economic cut-off grade that can be used to assess the resources plus for developing a new mine plan for future Class 4 mine operations license. The January 14th, 2010 Silver Hart Technical Report current base cut-off grade used was 900 gpt (26.25 opt) silver at an average silver price of $8.60 per troy ounce. A large portion of the drill information and mineralized area was eliminated from resource estimate due to the current economic conditions at the time of producing the Technical Report. Once the bulk samples have been evaluated, an updated Technical Report will proceed.
Prior to YTG reviewing and approving the application, the Yukon Environmental and Socio-economic Assessment Board YESAB) will need to conduct an assessment of the proposed exploration program. An application will be submitted to YESAB shortly for review. Time lines for approval will vary based on potential additional information that both YTG, YESAB, and First Nation's may require to complete the review and approvals.
In compliance with NI 43-101, Don Wedman, P.Eng., President and Chief Executive Officer of the Company, is the Qualified Person who prepared or supervised the preparation of the technical information presented in this news release.