October 03, 2023

Canadian Metals Inc. reports discovery of a Volcanic Massive Sulfide at its TV Tower property in New Brunswick.

Critical Minerals & Rare Earths, ESG & Cleantech

June 19, 2018 (Source) — Canadian Metals Inc. (The “Corporation”) (CSE : CME) is pleased to announce the extension of a surface discovery made by Tim Lavoie & Pierre-Luc Guitard of a surface gossan showing at his TV Tower property in New Brunswick recently optioned by Canadian Metals. The property is located 14 km south of the Trevali Caribou mines and easily accessible via highway 180 and wide gravel road used for logging and windmill. It is adjacent to the Caribou windfarm.

Following the discovery of the gossan zone, a trench program over a coinciding Mag and EM anomaly by the corporation field technical team has allowed the exposure of the massive sulfide (see figure 1, 2 and 3 attached). Nineteen channel samples of mainly one meter in length with a rock saw have been taken by Goldminds, an independent consultant to the Corporation and sent rush to AGAT Laboratory in Mississauga Ontario. Additionally, a diamond drill from Maritime Diamond Drilling was rushed to the discovery to delineate any possible extension.

The company elect to name the discovery of the volcanic massive sulfide (VMS) the Iceberg tip zone.

The first hole collared about 28 metres East of the Iceberg tip discovery trench intersected 9.63 metres of near surface sulfides mineralization from 10 to 19.63 metres including a 4.63 metre zone of massive (Po, Py & Cpy) core length (from 15m to 19.63m, see figure 4, 5, 6 & 7 for core images) Additional work is required to define the true thickness of the mineralized zone. The hole was drilled at -45 degrees toward the excavation and hit the target at a depth of 10 metres. Other zones of mineralization are present in the core. A second hole was drilled from the same set-up at -75 and intersected altered sulfide mineralization from 10 to 17.3 metres where massive sphalerite was observed at a depth of 17mover 30cm along the core. A series of short holes is being undertaken to define geometry, extension and possible extension at depth. The drill core will be logged, cut, sampled and sent to laboratory for determination of each metal content.

Drilling is continuing and will take a pause for assessment of grades and interpretation. The drill program is under supervision of GoldMinds.

The company would also like to inform that it will carry out other geophysical survey (such as gravity and/or ground and down the hole pulse EM) in order to assist in identifying possible thicker sectors for additional diamond drilling.

“Following our discovery, we are very pleased with these new massive sulfides occurrences at TV Tower. If the laboratory results are as good as we expect, the strategy of diversification of Canadian Metals with addition of base metals property in mining friendly New Brunswick seems to bare its fruits rapidly,” said CME Chairman of the Board Stéphane Leblanc.

Figure 1: VMS rock with debris/breccia texture from the trench outcrop (CNW Group/Canadian Metals Inc.)

Figure 2: VMS fresh rock with sulfides debris taken from the trench outcrop (CNW Group/Canadian Metals Inc.)

Figure 3: Rock from the trench outcrop with brick alike pattern with sulfide cement and high silicification of the host rock. (The turtle shell rock!) (CNW Group/Canadian Metals Inc.)

Figure 4: VMS core of drill hole TV-18-01 box 1 to 3 wet (CNW Group/Canadian Metals Inc.)

Figure 5: VMS core of drill hole TV-18-01 box 4 to 7 wet (CNW Group/Canadian Metals Inc.)

Figure 6: Close-up of the near surface VMS core box (CNW Group/Canadian Metals Inc.)

Figure 7: Field close-up core (CNW Group/Canadian Metals Inc.)

About TV Tower

The TV Tower property is composed of a total of 53 claim units covering approximately 1,157 hectares. The TV Tower property hosts potential Zn-Cu-Au massive sulphide lens. A new target for mineral exploration, located only 14 km south of the Trevali Caribou mines. The geological unit comprises dacitic to rhyolitic quartz-feldspar crystal tuff, dark grey iron formation and massive sulphides of the Tetagouche group.

Qualified Persons

The technical information in this news release was prepared and approved by Claude Duplessis, P. Eng., of Goldminds Geoservices Inc. independent Qualified Persons as defined by National Instrument 43-101.


Also, the company announces that Luigi Nardella has resigned from the Board of Directors, effective immediately.

About Canadian Metals

Canadian Metals is a diversified resource company focused on creating shareholder value through the development of large-scale industrial mineral portfolios in specific commodities and jurisdictions that will fuel the new energy economy. The Company is uniquely positioned to pursue this strategy and controls significant interest in silicon and base metal assets throughout North America.

Our main activities are directed towards the development of Langis project, a high-purity silica deposit located in the province of Quebec with fully permitted with the BEX and the certificate of authorization from the MDDELCC. The Company is rapidly positioning itself as a supplier of high‑purity silica and silicon alloy in North America. Silicon‑based materials can be formulated to provide a broad range of products from more durable, faster building materials with smarter electronic devices, solar panels, and more efficient wind turbines. We expect to become a global supplier for a number of industries and applications but without limitation: glass, ceramics, lighting, oil and gas, paint, plastic, and rubber. We also want to become an integrated supplier to metallurgical industries including foundries, and participate in a wide range of civil, industrial, environmental, and related applications. These target markets are an integral part of the lives of millions of people every day.

Cautionary Statements Regarding Forward-Looking Information

Certain statements included herein may constitute “forward-looking statements”. All statements included in this press release that address future events, conditions, or results, including in connection with the prefeasibility study, its financing, job creation, the investments to complete the project and the potential performance, production, and environmental footprint of the ferrosilicon plant, are forward-looking statements. These forward-looking statements can be identified by the use of words such as “may”, “must”, “plan”, “believe”, “expect”, “estimate”, “think”, “continue”, “should”, “will”, “could”, “intend”, “anticipate”, or “future”, or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions, and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties, and assumptions, including those mentioned in the Corporation’s continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Corporation and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Corporation is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.