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CMC Acquires Golden Point Gold Project in British

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BMGS   Monday, 10/16/17 05:45:23 AM
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CMC Acquires Golden Point Gold Project in British Columbia's Golden Triangle Bordering Teck Resources

Vancouver, British Columbia--(Newsfile Corp. - October 16, 2017) - CMC Metals Ltd. - ("the Company") (TSX-V: CMB) — is pleased to announce that it has acquired a 100 percent interest in the Golden Point gold prospect strategically located in British Columbia's Golden Triangle bordering Teck Resources. The Golden Point Project comprises 87 claims totalling 1,518 hectares in the Skeena Natural Resource Region (Liard Mining Division).

Michael Scholz, Director of CMC stated, "We are thrilled to have been able to acquire this new gold project in the heart of the Golden Triangle, which is one of the most thriving gold districts in the world. The renewed focus that the Golden Triangle has seen recently is encouraging to us as evidenced by the recent news from Garibaldi Resources and GT Gold. We are pleased to be able to add this property bordering Teck Resources to our portfolio and are eager to get to work on this project as soon as possible."

The Golden Point project is located some 15km west of Schaft Creek, and 25km NNE of Teck Resources Galore Creek project and is underlain by Upper Triassic volcanic rocks of the Stuhini Group. The Volcanics are locally intruded by tonalities of the Mid-Jurassic Three Sisters Plutonic Suite, Triassic quartz diorites. The Golden Point property features some historic work (recorded in the BC Minfile System) that has consisted of large scale mapping and some rock and soil sampling, including work by Gold Fields Canadian Mining Ltd. (1991) that returned 8,8g per tonne ("gpt) Ag, 4.5gpt Au and 0.43% Cu over a 30cm shear zone ('Scud showing') and earlier sampling by International Corona Corp. (1988, 89) which produced gold values up to 24gpt Au in grab samples from a small area of an exposed quartz vein stockwork ('Otis showing') rich in arsenopyrite. This new project was acquired by staking via MTOnline.

About CMC Metals.

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