CMC Metals Ltd. (CMCXF)

[BMGS]

11 October - CMC Announces Drill Results From Silver Hart Summer Drill Program
http://cmcmetals.ca/cmc-announces-drill-results-from-silver-hart-summer-drill-program/

Interesting excerpts from the PR:

Significant intervals were determined using a 300g silver equivalent cut-off grade calculated using the following assumptions: Ag $18/oz, Zn $1.20/lb, Pb $1.00/lb.

2010 Program
A diamond drill program was completed at the Silver Hart property in 2010. The assay results have been obtained from the laboratory, ALS Chemex, North Vancouver, B.C. and will be released shortly.

Michael Scholz, Director of CMC stated: “We now know we are in the right area in this world class mining district. The previous drill program confirmed that we are on the right track and we are currently formulating plans to continue drilling this project. We have recently met with a third party consulting group to engage in the design and subsequent ramp up of an underground mining operation, with the on-site mill and pad having already been completed.”

The property is located approximately 60km north of the Silvertip mine in BC. The Silvertip mine has been recently bought by Coeur Mining (NYSE: CDE) of Chicago, IL for initial consideration of approximately US$200 million, consisting of approximately US$146.5 million of cash, and approximately US$38.5 million of Coeur shares (approximately 4.3 million new shares) an assumption of US$15 million of existing debt (announced September 11 th, 2017).