|TSX-V: CMB Last: $0.04 High: $0.04 Low: $0.03 Volume: 716350 Change: +0.01 Date: 08-27-2015 Time: 15:30 EST 15-20 min quote delay|
The Radcliff gold property is located in the west-central portion of the Panamint Range, Inyo County, southeastern California, just west of Death Valley National Park. The World Beater property covers both the historic Radcliff and World Beater mines.
The Radcliff property encompasses approximately 1,654 acres and consists of 10 patented mining claims, one patented mill site claim, 84 unpatented mining claims, and five unpatented mill sites, water claims and/or water rights known as the Stone Corral Water Claims.
CMC holds a 50% interest in the Radcliff Mine property through its wholly owned subsidiary CMC Metals Corp., Pruett-Ballarat Inc. ("PBI"), a Nevada corporation, owns the remaining 50% interest in the property and is the current operator. The patented and unpatented claims are owned 50% by CMC and 50% by PBI, subject to a deed of trust in favor of WB & Ratcliff, Inc., the previous owner.
Plans for the Radcliff Mine for 2014, include the continued construction of the 5510 adit towards the high grade drill intersects. Radcliff Mine will stock pile ore in anticipation of commencement of operations of the Bishop Mill and production of concentrate for sale in December 2014.
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 14,500 ounces of Gold was produced from 14,000 tons of ore.
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.
The Bishop Mill will operate at 2,000 tons per month and the ore to be processed at the facility will be supplied from the 50% Company owned Radcliff Mine near Ballarat, California.
CMC has received final permits to construct the tailings pond and commence operations of the Mill from the Lahontan Regional Water Quality Control Board, the Bureau of Land Management (BLM) and the Great Basin Unified Air Pollution Control District.
CMC has commenced construction of the tailings pond at the Bishop Mill and expects the mill to start processing ore and produce a concentrate in December 2014.
Jun 29, 2015: Increase and Closing of $0.05 Unit Private Placement
Jun 25, 2015: Radcliff Property Update - 5510 Level - Mineralized Zone Channel Sample Assays
Jun 10, 2015: New $550,000 / 11,000,000 Unit Private Placement at $0.05 per Unit
Jun 10, 2015: Radcliff Mine Project Update / Grant of Incentive Stock Option
Jun 04, 2015: Bishop Mill Update - Increase and Closing of $0.05 Unit Private Placement