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Canadian Metals reports discovery of a Volcanic Massive Sulfide at TV Tower property

Mining News - Published on Thu, 21 Jun 2018

Image Source: newswire.ca
Canadian Metals Inc announced that the extension of a surface discovery made by Tim Lavoie & Pierre-Luc Guitard of a surface gossan showing at his TV Tower property in New Brunswick recently optioned by Canadian Metals. The property is located 14 km south of the Trevali Caribou mines and easily accessible via highway 180 and wide gravel road used for logging and windmill. It is adjacent to the Caribou windfarm.

Following the discovery of the gossan zone, a trench program over a coinciding Mag and EM anomaly by the corporation field technical team has allowed the exposure of the massive sulfide. Nineteen channel samples of mainly one meter in length with a rock saw have been taken by Goldminds, an independent consultant to the Corporation and sent rush to AGAT Laboratory in Mississauga Ontario. Additionally, a diamond drill from Maritime Diamond Drilling was rushed to the discovery to delineate any possible extension.

The company elect to name the discovery of the volcanic massive sulfide the Iceberg tip zone.

The first hole collared about 28 metres East of the Iceberg tip discovery trench intersected 9.63 metres of near surface sulfides mineralization from 10 to 19.63 metres including a 4.63 metre zone of massive core length (from 15m to 19.63m, see figure 4, 5, 6 & 7 for core images) Additional work is required to define the true thickness of the mineralized zone. The hole was drilled at -45 degrees toward the excavation and hit the target at a depth of 10 metres. Other zones of mineralization are present in the core. A second hole was drilled from the same set-up at -75 and intersected altered sulfide mineralization from 10 to 17.3 metres where massive sphalerite was observed at a depth of 17m over 30cm along the core. A series of short holes is being undertaken to define geometry, extension and possible extension at depth. The drill core will be logged, cut, sampled and sent to laboratory for determination of each metal content.

Drilling is continuing and will take a pause for assessment of grades and interpretation. The drill program is under supervision of GoldMinds.

The company would also like to inform that it will carry out other geophysical survey (such as gravity and/or ground and down the hole pulse EM) in order to assist in identifying possible thicker sectors for additional diamond drilling.

Mr Stéphane Leblanc CME Chairman of the Board said that "Following our discovery, we are very pleased with these new massive sulfides occurrences at TV Tower. If the laboratory results are as good as we expect, the strategy of diversification of Canadian Metals with addition of base metals property in mining friendly New Brunswick seems to bare its fruits rapidly."

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Posted By : Rabi Wangkhem on Thu, 21 Jun 2018
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