Tuesday September 11 2007 - News Release
Mr. Don Wedman reports
SILVER HART MINE SITE 2007 EXPLORATION UPDATE
CMC Metals Ltd. is providing an update of the status of the drilling at the CMC Silver property (Silver Hart mine site). To date, seven drill holes have been completed for testing the strike and depth of mineralization at several of the known surface vein structures. The 2007 drill program had three goals; the first confirmed no potential mineralization under the proposed 80-tonne-per-day mill site area. Work is currently being completed for the development and operational approval application for the mill site area. The second goal was to twin at least three historical drill holes at the TM zone to test the confidence of the historical data, location of the vein intersects, grades, thicknesses and host-rock geology for mining. The third goal was to test at depth the continuation of known trench veins at the M and D zone areas that have never been tested at depth or strike.
An additional three drill holes were completed in the TM zone to twin historical holes to test the historical data confidence and to correlate the ore-zone thickness and grades to the past historical thickness and grades. Based on the current geological interpretation of the drill logs, there was an excellent correlation with the historical drill logs that supports the historical data for the geological interpretations. The company purchased the historical data last year which were created from the $6-million to $8-million of work performed by the previous owner. The historical data have allowed the company to develop its mining approach and contained comprehensive information which the company has relied upon regarding widths, grades, rock types, surface geology, underground geology and cross sections. Once the assay results from Acme Analytical Laboratories Ltd. in Vancouver are received, the information will be compared with the historical assays to ensure that the grades and historical resources support the confidence in the mine plans developed for the TM zone.
The company has also completed three drill holes at the M (Meteorite) zone. Based on the historical data, the surface-mapped-and-sampled vein structure, that was exposed with surface trenching, shows a strike of 70 feet and a width of four feet of massive galena grading 45.63 ounces per ton silver, 20.65 per cent lead and 1.54 per cent zinc. The focus of the initial three holes is to test the extension of the strike at both ends of the trench plus the continuation of the mineralization at depth. Based on the geological logs, the drilling confirmed that the strike length exceeds 75 metres and the mineralization of high-grade silver/lead galena and zinc sphalerite mineralization continues at depth. Once the assay results are received, an update of the assays and thicknesses will be released.
At present, the drill has been moved to the D zone to drill three holes to test the strike and depth of this high-grade surface-exposed vein structure. At the end of the 2006 exploration, the D zone was trench sampled and tested. As reported in Stockwatch news on Nov. 3, 2006, the trench sampling determined a vein measuring up to 2.5 metres wide with intervals grading up to 73 per cent lead and 1,896 grams per tonne silver. The company will confirm and expand its understanding of this occurrence and, once the drill core has been analyzed, the results will be released.
Drilling at the Silver Hart site will be completed in the next week, at which time the drill will be relocated to the CK property in the Clearwater, B.C., area. Initially, the drill was to be mobilized to the Clark/Cameron property in the Mayo, Yukon, area. However, due to the delays in getting this new drill from the manufacturer and weather issues in the Mayo area, it was decided to expend exploration funds on the CK property. Drilling at this property should start by early October and continue until November. The goal is to expand the resources at the new occurrence that demonstrated high grades of zinc mineralization. Based on the historical drilling, the 83 historical holes intersected and produced an average unweighted intersect grade of 14.5 per cent zinc, 2.36 per cent lead and eight grams per tonne silver. A few years later, a historical indicated resource estimate was determined to be 500,000 tonnes grading 11.3 per cent zinc and 2.0 per cent lead (Green, PEng, 2000, for BWI Resources Ltd.). Additional inferred resources of 380,000 tonnes were estimated at the same grade. It is the company's intention to expand the resources to allow an internal evaluation of the viability of moving this property forward to the preproduction phase. The company advises that a qualified person has not done sufficient work to classify the historical estimate as current mineral resources, and it is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Don Wedman, PEng, president and chief executive officer for CMC Metals, a qualified person under National Instrument 43-101.
© 2007 Canjex Publishing Ltd.
