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CMC Metals Ltd. Fulfills Anniversary Requirements on Four Option Agreements in 2021
VANCOUVER, BC / ACCESSWIRE / November 4, 2021 / CMC Metals Ltd. (TSX-V:CMB)(Frankfurt:ZM5N)(O...
About this update from Walker Lane Resources Ltd.
[{"type":"text","content":"CMC Metals Ltd. Fulfills Anniversary Requirements on Four Option Agreements in 2021VANCOUVER, BC / ACCESSWIRE / November 4, 2021 / CMC Metals Ltd. (TSX-V:CMB)(Frankfurt:ZM5N)(OTC PINK:CMCXF); (the \"Company\") announces that it has fulfilled all conditions and has subsequently extended the option period for the second anniversary year for four property agreements. Conditions including payments of cash and/or shares and expenditure requirements have been fulfilled for the Blue Heaven and Rancheria South properties in northern BC and Yukon and Bridal Veil and Terra Nova properties in Newfoundland.Mr. John Bossio, Chairman notes: \"These properties were quality assets which we acquired at very reasonable terms. We are finally getting to examine the potential of these properties and initiate preliminary work on them. CMC has a diversified portfolio of properties all of which were acquired due to our review of their geology, exploration history, and their overall exploration potential to host high grade polymetallic deposits.\"Blue Heaven: The Company completed a SkyTEM airborne geophysical survey over the entire property which served to identify a geophysical anomaly coincident with an area of known north-easterly trending high grade polymetallic silver-lead-zinc veins. There are few outcrops in the area of the anomaly as it is heavily wooded. However limited prospecting in an area of new trail development resulted in the collection of two grab samples from new showings as follows:LocationSample No.Silver (g/t)Lead (%)Zinc (%)Blue Heaven3825171480.0210.3Blue Heaven382517311.70.045.2The Company is currently evaluating plans to further test the validity of this target given the high- grade nature of mineralization found in several showings (i.e., Blue, H, Hall, Triumph, Desire and Moar Showings) that are all in close proximity to the geophysical anomaly. Both the anomaly and geology being altered carbonates in close proximity to the contact with intrusives has led the Company to believe that the target has similar characteristics to that of mineralized areas at the adjacent Silver Hart property.Rancheria South: The Company completed a SkyTEM airborne geophysical survey over the entire property which served to identify geophysical anomaly coincident with an area in the southwestern portion of the property. In this area there are at lea...