CMC Announces the Identification of Six Significant Geophysical Targets on its Silverknife Property in northern British Columbia

VANCOUVER, BC / ACCESSWIRE / May 11, 2022 / CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(OTC PINK:CMCXF) ("CMC" or the "Company") is pleased to announce significant targets have been identified on its Silverknife property as a result of a recent geophysical interpretation completed by Intelligent Exploration ("IE"). Dr. Chris Hale and Mr. John Gilliatt have recently completed an interpretation of geophysical data of the electromagnetic and magnetic airborne geophysical survey completed by SkyTEM Canada Inc. on the property in 2021. The silver-lead-zinc Silverknife Prospect is located within the emerging Rancheria Silver District that extends from south-central Yukon into Northern British Columbia and hosts the Silvertip Mine owned by Coeur Mining Inc. Silvertip is one of the highest-grade underground silver-lead-zinc mines in the world.

IE noted that the Total Magnetic Intensity ("TMI") on the Silverknife claims (See Figure 1) shows TMI highs indicating more magnetic intrusive rocks (Cassiar granodiorite) and broad areas of comparatively non-magnetic sedimentary rocks including limestones and dolomites that potentially could host a carbonate replacement (CRD) style deposit similar to the neighboring Silvertip Mine and CMC's Amy Prospect approximately 8km west of Silverknife. The TMI data also show that the intrusive is more extensive than previously recognized and its proximity to the McDame Formation and Tapioca Formation limestones offer good potential for them to host a CRD style deposit.

Foto: Accesswire

Figure 1. Total Magnetic Intensity ("TMI") on the Silverknife claims.

In total, six targets were identified at Silverknife (see attached figure 2). Three targets are located in the northwestern portion of the property and are newly discovered anomalies. These anomalies appear to follow the contact of the Cassiar Batholithic rocks with sedimentary sequences believed to be associated with the River Road and Tapioca Formations.

Foto: Accesswire

Figure 2. The Six SkyTEM targets identified at Silverknife.

The remaining three targets in the south-central portion of the Property occur close to previously identified geochemical anomalies located on a downslope and appears to form at the contact of a magnetic and resistive body, possibly indicating skarn mineralization. The anomaly is considered to be at shallow depth and therefore mapping and possible trenching of these conductors has been recommended.