CMC Metals Ltd. Identifies Gravity Anomalies at the Silverknife Prospect Area within its Silverknife Property, Northern British Columbia

VANCOUVER, BC / ACCESSWIRE / August 8, 2023 / CMC Metals Ltd. (TSX-V:CMB)(Frankfurt:ZM5P)(OTCQB:CMCXF) ("CMC" or the "Company") is pleased to announce that an extensive gravity anomalies have been identified over the Silverknife Prospect within its Silverknife Property in northern British Columbia. The gravity survey was recently completed by Mineral Exploration Services Ltd. who are a specialist in in-field gravity survey data collection and the preliminary interpretation of the data has been completed by Dr. Chris Hale and Mr. John Gilliatt of Intelligent Exploration who are the Company's geophysical contractor.

Two gravity peaks extend from the eastern boundary of the property southwestwards and are also coincident with SkyTEM conductivity anomalies, geochemical anomalies, and mineralization in historic drilling (see Figure 1). The northernmost and southernmost gravity peaks extend for strike lengths of approximately 225 meters and 525 meters, respectively. The survey also identified smaller gravity peaks in the central portion of the property southwest of the Silverknife Prospect and in the northeastern most corner (see Figure 2). The previously identified gravity peak north of the Tootsee River in the northernmost portion of the property is yet to be drill-explored as the Company is currently constructing road access into that area. Plans are underway to drill investigate that area in 2024.

Mr. John Bossio, Chairman noted, "The increasing level of prospectivity at the Silverknife property is very exciting. Our systematic exploration approach on all of our properties in the Rancheria Silver District utilizes a combination of geological, geochemical and geophysical information combined with some of the best expertise and knowledge of carbonate replacement deposits ("CRD's"). All of this culminates to maximize the probability for exploration success."

Mr. Kevin Brewer, President and CEO noted, "Current drilling is now focused on exploring these gravity anomalies so we better understand their significance. Preliminary indications are that the anomalies are associated with CRD style mineralization, and we are establishing how the data can be best utilized to pinpoint future drill targets."

Figure 1: Gravity Peaks in the Silverknife Prospect Area, Rancheria Silver District. (Note: Historical drill holes are denoted with red dots).

Foto: Accesswire

Coverage by the gravity survey included:

• The historic Silverknife Prospect which was subjected to drilling in the mid 1980's that identified significant mineralization that was reported to remain open in several directions and at depth. In addition, 3D Geosoft Modelling by CMC's geophysical contractor Intelligent Exploration, appears to indicate that previous drilling on the Silverknife Prospect was conducted on the edge of the conductors (see Figures 3 and 4);
• A series of conductors that extend through the central portion of the property from east to west; and,
• The northeastern most portion of the property adjacent to previously identified discoveries identified through the combination of the previous gravity and SkyTEM airborne surveys.

Figure 2: Gravity anomalies in the northern, northeastern, Silverknife Prospect area and central portions of the Silverknife Property, Rancheria Silver District, Northern BC.