Canada Strategic Metals Reports New Wide Gold-Bearing Intersections, with Results of up to 2.30 g/t Au Over 26.35 Metres, Including 5.18 g/t Au Over 4.80 Metres…
May 28, 2014 (Source: Marketwired) — Canada Strategic Metals Inc. (“Canada Strategic Metals” or “the Company”) (TSX VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) and Matamec Explorations Inc. (TSX VENTURE:MAT)(OTCQX:MHREF) are pleased to report the first results from the recent drilling program on the Sakami gold project. These new results confirm the extension to the West, Northwest and at depth of the Zone 25 envelope of gold mineralization. The program consisted of eleven holes for a total of 2,913 metres of drilling.
The program is aimed at increasing the size of the main gold zone (Zone 25) to the west-northwest, as well as its extension at depth. Zone 25 is in the La Pointe sector of the Sakami property. Once this program is complete, Zone 25 will have been tested over a strike length of more than 200 metres and to a depth of over 425 metres along its plunge. The holes are spaced at 50 metres. A surface map showing drillhole locations and sections can be found on the Company’s website at: www.csmetals.ca.
To date, the Company has received the assay results for the three first holes, PT-13-73 to PT-13-75, drilled during the December program. These holes were planned to test the extension of the mineralized zone to the west and northwest, as well as down dip. All three holes returned wide gold-bearing intersections, including 1.46 g/t Au over 21.85 metres from Hole PT-13-73, including 2.16 g/t over 12.00 metres, 2.30 g/t Au over 26.35 metres, including 3.80 over 8.80 metres and 5.18 g/t over 4.80 metres from hole PT-13-74, and 2.40 g/t Au over 7.15 metres from Hole PT-13-75. All mineralized intersections and gold assay results from the recent program received to date are shown below.
“We are very pleased to once again report positive results from recent drilling on the Sakami project during the latest exploration program,” said Jean-Sebastien Lavallée, President and Chief Executive Officer of Canada Strategic Metals. “We are looking forward to receiving the results for the eight other holes drilled during the program.”
The Company will release the results for the remaining holes as soon as they have been received and compiled.
Table of mineralized intersections from the recent drilling campaign
|Hole #||Type||From (m)||To
|PT-14-73 including||Zone 25||160.50||172.50||12.00||2.16|
|PT-14-74 including||Zone 25||243.70||252.50||8.80||3.80|
|PT-14-74 including||Zone 25||247.70||252.50||4.80||5.18|
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* Core length; the Company estimates the true width of the mineralized zone at 80 to 95% of the core length.
The 2014 drilling program was managed by Consul-Teck Exploration of Val-d’Or, Quebec, which designed the drilling campaign, supervised the program and logged and sampled the core.
Consul-Teck Exploration implemented QA/QC procedures to ensure best practices in core sampling and analysis. The drill core was logged and then split, with one-half sent for assay and the other retained in the core box as a witness sample. Duplicates, standards and blanks were inserted regularly into the sample stream.
The samples in secure tagged bags were delivered directly to the analytical facility for analysis. In this case, the analytical facility was the Bourlamaque Ltee laboratory in Val-d’Or, Quebec. The samples are weighed and identified prior to sample preparation. All samples are analyzed by fire assay with AA finish on a 30g sample (0.01-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au.
Jean-Sebastien Lavallée (OGQ #773), geologist, shareholder and President and Chief Executive Officer of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.
About Matamec Explorations
Matamec Explorations Inc. is a mining exploration company whose focus is developing the Kipawa HREE deposit with TRECan, with the goal of supplying Toyota with HREEs for the production of hybrid and electric cars. The company is exploring 35 km of strike length in the Kipawa Alkalic complex for rare earths-yttrium-zirconium-niobium-tantalum mineralization on its Zeus property. Matamec is also exploring for gold at its Matheson joint-venture property, which is located along strike and in close proximity to the Hoyle Pond mine in Timmins, Ontario. In Quebec, the company is exploring for lithium and tantalum on its Tansim property and for precious and base metals on its Sakami, Valmont and Vulcain properties. For more information, please visit www.matamec.com.
About Canada Strategic Metals
Canada Strategic Metals is an emerging company focused on the exploration and development of a number of projects covering over 20,000 hectares in Quebec. With broad management experience in green technology and junior resource exploration and development, Canada Strategic Metals is well positioned to aggressively advance this promising property portfolio for its shareholders.
For more information on the Company, please visit www.csmetals.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>