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| August 06, 2008 CMC Metals Updates Drilling Progress on Its 100% Owned CK Property | |
| Vancouver, B.C.: CMC Metals Ltd. (the "Company") is pleased to announce that the phase II exploration program has been initiated at the CK property. The work proposed includes 2000 meters of infill drilling on the NEW deposit, trenching, and environmental baseline data collection for the phase III exploration adit development. The NEW deposit has been drill intersected over a 1300 meter strike and is open for expansion on strike and depth. Over 103 drill holes have been drilled on the NEW deposit plus extensive trench mapping of the upper outcrop. Donald Wedman, P.Eng., CEO and President commented "The 2008 exploration program is designed to provide the final geological data needed to conduct the preliminary mine plans and economic model. Based on the results, we will be in a position to make a pre-production decision to move the property forward to the production phase. The high base metal grades and structural configuration make the NEW deposit an excellent opportunity for the Company." About the CK Property The CK Property consists of 27 claims located 54 km northwest of Clearwater British Columbia. The property has had geochemical and geophysical surveys and diamond drilling conducted by Cominco and several other operators over the past 20 years. The deposits found are Broken Hill-type with zinc, lead, and silver mineralization. There are currently seven known mineral occurrences on the property with the two main occurrences being the CK and the New occurrences. The CK (BC Minfile 082M 224) is confined to a calcareous horizon that trends southeast on a southern limb of a synform. A sulphide layer up to 2.1 km long and 7.8 meters wide has been drill explored. One section gave an average drill grade of 11.2 percent zinc and 1.6 percent lead over a 2.5 meter intersection striking 600 meters. One historical estimate was reported in the 1987-1988 edition Canadian Mines Handbook by Rea Gold Corporation to be a "drill indicated resource" of 1,643,000 tons grading 8.6 percent zinc, 1.4 percent lead. The New occurrence was discovered in the mid 1980's. One of the drill programs intersected the New occurrence with 83 drill holes and produced an average unweighted intersect grade of 14.5 percent zinc, 2.36 percent lead and 8 grams per tonne silver. A few years later a historical indicated resource estimate was determined to be 500,000 tonnes grading 11.3 percent zinc and 2.0 percent lead (Green, P.Eng., 2000, for BWI Resources Limited). Additional inferred resources of 380,000 tonnes were estimated at the same grade (Green, P.Eng., 2000, for BWI Resources Limited). Additional information on the CK Property can be found at www.cmcmetals.ca. The information set out herein is based on current drilling and historical data that requires an updated N143-101 compliant resource estimate. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the Company 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, P.Eng., President and Chief Executive Officer for CMC Metals Ltd., a qualified person under National Instrument 43-101. The Company further wishes to announce that it has terminated its Option Agreement pursuant to the Clark-Cameron Property located in the Keno Hill area of the Yukon, and transferred the claims back to the Optionor. The Company felt the Clark-Cameron Property did not meet its mandate for an advance stage project due to unforeseen access difficulties and issues arising therefrom. This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. On behalf of the Board: "Don Wedman" Don Wedman, P.Eng. CEO CMC METALS LTD. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. For further information, please contact Mr. Wedman at 604-637-4673, or email at cmcmetals@shaw.ca. | |
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