Business
Preliminary Exploration Identifies Polymetallic-Gold Mineralization Potential at CMC's Bridal Veil Property, near Gander, Central Newfoundland
VANCOUVER, BC / ACCESSWIRE / July 19, 2022 / CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(OTC P...
About this update from Walker Lane Resources Ltd.
[{"type":"text","content":"Preliminary Exploration Identifies Polymetallic-Gold Mineralization Potential at CMC's Bridal Veil Property, near Gander, Central NewfoundlandVANCOUVER, BC / ACCESSWIRE / July 19, 2022 / CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(OTC PINK:CMCXF) (\"CMC\" or the \"Company\") is pleased to announce that positive soil geochemical surveys coincident with geological and geophysical data have served to identify the potential for gold and polymetallic mineralization at its Bridal Veil Property in Central Newfoundland.The Bridal Veil property is located immediately east of Gander and is approximately 15 kilometers east of significant gold discoveries identified by Newfound Gold on the Gander River Ultramafic Belt, commonly referred to as the \"GRUB Line\". The Bridal Veil area has been a subject of considerable interest by geologists from the Newfoundland Geological Survey and the Department of Earth Sciences at Memorial University who concluded that mineralization in the area was polymetallic and had metal associations atypical of orogenic gold systems (Sandeman, H.A.I. and Peddle C., 2020). They also reported elevated values of copper, gold, silver and lead in the Bridal Veil showings and prior to their work, an abrupt transition from an aeromagnetic low to an aeromagnetic high had been identified to occur within the Bridal Veil Property.Local prospectors subsequently conducted sampling and identified anomalous mineralization in outcrops and a large electromagnetic anomaly that combined with all of the positive findings led to CMC's interest in optioning the property.CMC has since conducted several exploration activities on the property including (i) a preliminary geochemical soil survey; (ii) channel sampling of the Bridal Veil Showing; (iii) completion of a ground magnetic survey conducted over 85% of the property area; and (iv) extensive prospecting mapping and structural interpretation of the southern portion of the property in the proximal area to the known showings (Bridal Veil, Abbott's Ridge and Hidden Outcrops).Preliminary Geochemical Soil SurveyA preliminary geochemical soil survey was completed over 3 gold-in-till soil anomalies identified by regional government surveys and a fourth grid was established just southwest of the Bridal Veil Showings (see Overview Map).Overview map of Bridal Veil Magnetic SurveyGrid 1 centered o...