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| July 29, 2009 41,900 Grams per Tonne intersection in the TM Pit | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vancouver, B.C.: CMC Metals Ltd. (the "Company") is pleased to announce the preliminary test results from the trench sampling in the TM pit at the Silver Hart Mine site. In preparation for pre- production, the Company is conducting a detailed surface trench sampling in the TM pit. The purpose of the trench sampling is to compare the historical data to the more advanced analytical measurements from a real-time XRF analyzer. The data will be used for excavation plans when the pre-production phase of the mine starts. The following are the highlights of the measured XRF assays over the initial sampling of the pit:
A sampling and assay QA/QC program was instituted with daily calibrations, standards, and statistically significant samples measured. The XRF assays are for indicative purposes only and should not be relied upon until comparative lab assays are completed. Widths are horizontal trench widths. Based on the preliminary assays it was determined that the historical data missed the occurrence of the enrichment zone in the footwall where the andesite dike exists. Based on the fine clay texture of the occurrence, the drill data would not be able to recover the intersection and would understate the current resource estimate for the TM zone. Donald Wedman President and CEO of the Company commented that "To identify these additional bonanza grades within the TM pit provides an exceptional opportunity to provide direct shipment ore at the early start-up stage of the pit development." A detailed surface sampling program will continue over the next two months to provide data for the re- evaluation of the TM pit resources. About the Silver Hart Mine Project CMC's 100% owned Silver Hart Mine project is for a 20,000 tonne per year mine and an 80 tonne per day mill facility to concentrate the run-of-mine ore. Mining of the TM and S zone will be on a seasonal basis (June to October) and milling will be on a year round basis. The first two years will be surface mined then continued by underground methods. There has been substantial exploration on the property since the mid-80's. Additional drilling each year occurred by the Company since 2005 to confirm past drill results and to provide the confidence in the substantial amount of historical data. A historic resource estimate (F. Smith, 1988) was determined at the end of 1987 for the TM zone and in addition to the reported historical reserves, the Company speculates an additional volume of 33,225 tonnes (36,609 tons) with an average grade of 1,755 grams/tonne (51.2 oz/ton) silver, totaling 58,310 kg (1,874,937 ounces) of silver.* These historic resource estimates were based on 50 diamond drill holes (3658m, 12,000 feet) and 673m (2208 feet) of underground workings. The Company performed infill drilling and hole twinning as a due diligence to confirm the historical data. An updated detailed mining approach and review of the geological data provided input for the economic model to assess mine dilution, cut-off grades, run- of-mine head grades, and minimum mining widths. For further understanding of the property, the Company had SGS Lakefield Laboratories Ltd. conduct a detailed metallurgical study to define the mineral recoveries, mill flow diagram, and rate of consumption mill reagents need to concentrate the ore. Based on the SGS Lakefield Laboratories Ltd. metallurgical test results, metal recoveries from the raw ore are 96.9% silver, 97.0% lead, and 80.0% zinc by flotation methods. For additional information on the Silver Hart Project, please visit 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. This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. *Note: The mineral resource and reserve estimates and preliminary assessments are not supported by a compliant NI 43-101 technical report and reported reserves, resources, and preliminary assessments should not be relied on until they have been independently verified and supported by a technical report. On behalf of the Board: "Don Wedman" Don Wedman, P.Eng. CEO CMC METALS LTD. For further information on the Company, please contact Mr. Gord Zelko, VP Business Relations at StoxNetwork Corp. Telephone: 250-495-7123, or Email: . 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. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
You can view the Next News Releases item: Thu Aug 13, 2009, Silver Hart Mine 1,000 Meter Drilling Program Commences / 2,000,000 Unit Flow-Through Private Placement You can view the Previous News Releases item: Mon Jul 20, 2009, Silver Hart Mill Prefabrication Reaches 70 Percent Completion You can return to the main News Releases page, or press the Back button on your browser. |
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