Chibougamau Independent Mines: Assay Results and Update on the Current Drill Program of the C-3 Copper/Gold Zone on the Bateman Bay Property

About this update from Chibougamau Independent Mines, Inc.

[{"type":"text","content":" ROUYN-NORANDA, Québec, Aug. 07, 2019 (GLOBE NEWSWIRE) -- Chibougamau Independent Mines Inc. (CBG-TSX-V in Canada, CLL1-Frankfurt, Stuttgart and Lang & Schwarz Stock Exchanges in Germany, CMAUF-OTC in the US) is providing assay results and an update on the current ongoing drill program at Chibougamau’s 100% owned Bateman Bay, C-3 copper/gold zone.  Globex Mining Enterprises Inc. (GMX-TSX, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz Stock Exchanges and GLBXF – OTCQX International in the US) holds a 3% Gross Metal Royalty on the property. To date, 7 new holes have been completed totaling 3441 m.  A number of holes had to be abandoned and restarted due to excessive deviation.  One hole, BJ-19-23B, upon a third try, was allowed to proceed even though it undershot the target area by over 250 metres. Hole BJ-19-21, located 62 m below and 50 m southeast of hole BJ-19-17, which intersected 4.33% Cu, 3.69 g/t Au, 19.62 g/t Ag and 0.02 % Co over 22 m (see press release dated April 22, 2019), intersected the following: BJ-19-21 Copper (%) Gold (g/t) Silver (g/t) Cobalt (%) Core length (m) True width (m)   3.06 2.96 13.04 0.023 15.68 10.60 Including 4.01 4.90 16.17 0.029 4.38   And 4.20 3.73 18.63 0.031 5.90   Hole BJ-19-22, located 37 m above and 35 m northwest of hole BJ-19-17 intersected the following: BJ-19-22 Copper (%) Gold (g/t) Silver (g/t) Cobalt (%) Core length (m) True width (m)   3.02 0.48 20.20 0.025 45.40 15.60 Including 4.44 1.10 15.57 0.047 6.70   And 5.64 0.82 61.12 0.037 5.90   And 3.64 0.37 16.73 0.029 10.50   Hole BJ-19-22 was drilled from the shore at a different azimuth, thus the large difference between core length and true width.  Hole BJ-19-25 did not intersect mineralization but encountered a wide zone of intense alteration. Holes BJ-19-19, 20, 24 and 25 did not encounter mineralization (NSV). Hole BJ-19-23B, the deepest hole which overshot the target depth by approximately 250 m, intersected mineralization over a core length of approximately 1 metre.  Assays are pending. Drilling to date indicates that the zone is open to the northwest and southeast at depth as well as to the southeast towards the surface. Hole BJ-19-26 is currently drilling, targeting an area northwest of hole BJ-19-21. Laboratory and Assay Methods Chib...

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