RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Upcoming news???CMC Announces an Update on the Silver Hart Project and Revision to the Terms of the Flow-Through Private Placement
Vancouver, BC.: CMC Metals Ltd. - (“the Company”) (TSX-V: CMB) wishes to announce that the 2019 Phase I field program at the Company’s Silver Hart project in south-central Yukon has commenced.
“Our field crews have completed upgrading of 38 kilometers of the 42 kilometer access road and drill crews will be mobilized into site next week. Our drill program will focus on two high grade zones TM and S zones which are slated for near term development. In addition, during this field season the Company will continue to gather baseline data to add to its extensive environmental database and advance further engineering studies to prepare for a project application for a seasonal mining operation at Silver Hart” stated Kevin Brewer, P.Geo, President and CEO of the Company. Mr. Brewer further states that “Silver Hart is a high grade silver project with considerable work done on it over the past 10 years and with the recent improvements of the silver price, we are highly optimistic that our plans to develop Silver Hart are timely.”
The Company further wishes to announce that it has revised the terms of its previously announced flowthrough private placement to raise $525,000 by offering 7,000,000 flow-through common shares at $0.075 per flow-through common share, as announced pursuant to its July 3, 2019 press release, in that the price per flow-through share has been reduced to $0.065 for the issuance of 7,500,000 flow-through common shares to raise a total of $487,500. The remainder of the terms of this placement are unchanged. This transaction remains subject to regulatory approval.