- CMC Metals (CMB) has released positive preliminary exploration results at its Bridal Veil property in Newfoundland
- The company has identified an extensive area of anomalous copper and bismuth mineralization with minor silver
- Grab samples ranged from 0.041-3.473 per cent copper, 0.74-136.96 g/t bismuth and 1069-19340 ppb silver
- CMC Metals explores for silver in the Yukon and British Columbia and for polymetallic deposits in the Yukon and Newfoundland
- CMC Metals (CMB) is down 5.26 per cent and is currently trading at C$0.18 per share
CMC Metals (CMB) has released positive preliminary exploration results at its Bridal Veil property in Newfoundland.
The company has identified an extensive area of anomalous copper and bismuth mineralization with minor silver. The area has coincident EM anomalies that are yet to be explained.
Values from grab samples of veined psammitic metasediments ranged from 0.041-3.473 per cent copper, 0.74-136.96 g/t bismuth and 1069-19340 ppb silver.
Historical sampling has returned grades of up to 9.4 per cent copper, 10.2 per cent lead, 7.8 oz/t silver and 3.75 g/t gold.
The Bridal Veil mineral occurrences are related to an epigenetic copper-silver-lead-gold orogenic vein system hosted in deeply dipping shear zones.
The property is transected by the Trans Canada Highway approximately 10 km East of Gander and 15 km East of Newfound Gold’s Queensway Project.
Kevin Brewer, President and CEO of CMC, noted,
“We are highly encouraged about these preliminary results at Bridal Veil. Less than 15 per cent of the property area has been explored to date. At this stage, it is clear we need to better understand the mineralizing system as the tenure of mineralization is very encouraging. It is now a matter of determining the extent, possible continuity and subsurface potential of this mineralization throughout the property. Our plans are to further examine the property in the Fall after work is completed on our flagship property at Silver Hart in Yukon.”
CMC Metals explores for silver in the Yukon and British Columbia and for polymetallic deposits in the Yukon and Newfoundland.
CMC Metals (CMB) is down 5.26 per cent and is currently trading at C$0.18 per share as of 2:47 pm ET.