|TSX-V: CMB Last: $0.06 High: $0.06 Low: $0.06 Volume: 26000 Change: unch Date: 03-07-2014 Time: 16:45 EST 15-20 min quote delay|
THE SILVER HART PROPERTY - Yukon
CMC Metals Ltd., 100-per-cent-owned Silver Hart Mine has extracted over 1000 tonnes of high grade ore in the form of bulk samples. In 2013 the company is planning to apply for a Mining License that will allow for processing ore on the Silver Hart property.
To date, over $8.5 million has been spent on exploration and infrastructure development on the Silver Hart property with over 8,834 m of drilling. There are over 20 known mineralized trench showings, with only four zones being drill developed. Less than 6.5% of the CMC claims have been explored leaving a tremendous opportunity for expansion.
High Grade Bulk Samples - High grade bulk samples were taken in 2010 and 2011 to test metallurgical properties to assist in the mine design and in the development of the mine application.
In 2010 the bulk sample tonnage was 130.8 dry weight tonnes grading 4568 grams per tonne silver (133.2 ounces per ton) and 19.60 percent lead. The final tonnage and grade from the 2011 bulk sample is in the process to be finalized.
BISHOP MILL - California
CMC Metals purchased 100 percent ownership of a 50 tpd mill located in Bishop, California. The mill was constructed by Mammoth Mountain Mining in 1985 and is fully secured by fence, line power to the site and one mile from a paved highway.
To supply the mill, the company has entered into an agreement to earn a 50 % interest in the Radcliff mine. The fully permitted Radcliff (Worldbeater) Mine is located 8 km from the town of Ballarat and 13 km northeast of the operating Briggs Mine. The current mine developments occur at the upper elevations (4530 to 6580 foot) of the Panamint Mountain Range above the Death Valley California desert. The Radcliff historical production of 14,000 tons was produced from 14,500 ounces of gold.
The Bishop Mill Facility Plan of Operations includes the addition of a coarse grind Krupp screen mill that will increase the daily capacity to 100 tons per day from the current 50 tons per day and the development of a new tailings pond. The company has sufficient ore from the Radcliff to keep the Bishop Mill facilities at full capacity over at least a three year period.
CMC Metals has its water license at the Bishop Mill, and is now waiting for the acceptance of the Amended Plan of Operation from the Bureau of Land Management.
Mar 06, 2014: Grant of New Incentive Stock Options
Mar 04, 2014: Commencement of Pond Construction at Bishop Mill
Jan 02, 2014: Closing of 1,165,000 / $0.05 Unit Flow-Through Private Placement
Dec 23, 2013: 1,165,000 Unit Flow-Through Private Placement @ $0.05 per Unit
Dec 04, 2013: CMC Metals Posts Reclamation Bond for Bishop Mill and Hires Mill Manager