CJC Intersects 3.54 g/t Au Over 12.00 Metres and 3.58 g/t Au Over 8.55 Metres, Including 5.12 g/t Au Over 4.05 Metres at the Sakami Project
July 23, 2014 (Source: Marketwired) — Canada Strategic Metals Inc. (“Strategic Metals” or the “Company”) (TSX VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) and Matamec Explorations Inc. (“Matamec”) (TSX VENTURE:MAT)(OTCQX:MHREF) are very pleased to report the results from holes PT-14-81 to PT-14-83, drilled in March and April during the latest exploration program on the Sakami gold property. The new results confirm the extension of the Zone 25 gold mineralization envelope to the west, to the northwest and at depth. The recent results also confirm that the contact corridor between the Opinaca-La Grande volcano-sedimentary sub-provinces is fertile for significantly-enriched gold mineralization. This horizon has now been traced over a strike length of more than 200 metres and to a depth of more than 425 metres along its plunge. The latest drilling program on the Sakami property consisted of a total of 2,913 metres in 11 holes; results for the last three holes, drilled along strike and plunge from Hole PT-14-79, are describe below. The last two drilling programs by Strategic Metals have confirmed and enhanced the potential of the northeast and depth extensions of Zone 25, which remains open in all directions.
The program was 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. The program completed the testing of Zone 25 over a strike length of more than 200 metres and to a depth of over 425 metres along its plunge. The holes were spaced at 50 metres. A map showing the hole locations can be found on the Company’s website at: www.csmetals.ca.
The Company has received the assay results for three additional holes, PT-14-81 to PT-14-83, drilled in March and April as part of the program. These holes were planned to test the extension of the mineralized zone to the west and northwest, as well as down dip. They all returned gold-bearing intersections with significant gold grades with 2.58 g/t Au over 4.60 metres for hole PT-14-81, 1.43 g/t over 40.25 metres, including 3.58 g/t Au over 8.55 metres and 5.12 g/t Au over 4.05 metres for Hole PT-14-82 and 1.06 g/t Au over 55.50 metres, including 3.54 g/t Au over 12.00 metres for Hole PT-14-83. All the mineralized intersections and assay results are shown below.
“The Company is very pleased to have confirmed the high-grade gold potential of Zone 25 (the main zone) at the Sakami project, as well as its extensions along strike and at depth, and to note that Zone 25 remains open in all directions,” said Jean-Sebastien Lavallée, President and Chief Executive Officer of Canada Strategic Metals. “It is also encouraging to see the presence of multiple parallel, highly-anomalous gold zones confirmed. The positive drill results from the last exploration program have once again confirmed the Sakami project’s gold potential. We are now in the process of reviewing all the results so that we can plan the next drilling program and increase the size of Zone 25.”
Table of mineralized intersections from the recent drilling program
|Hole #||From (m)||To (m)||Length* (m)||Au (g/t)|
* Core length: the Company estimates the true width of the mineralized zone at 80 to 95% of the core length.
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Table of mineralized intersections from holes drilled on the Sakami project since December 2013
|Hole #||From (m)||To (m)||Length* (m)||Au (g/t)|
* 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.
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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>