MONTRÉAL, QUÉBEC–(Marketwired – Dec. 21, 2017) – Canadian Metals Inc. (The “Company”) (CSE:CME)(CSE:CME.CN)(CNSX:CME) is pleased to announce that the Company has received the results of its preliminary investigation of the La Chesnaye Lake 11km north of Baie-Comeau, in the province of Québec, Canada.
- Exploration target of 2.5 to 3.5 Million tonnes of high silica Quartzite near surface with grade ranging from 98.34% to 99.0% SiO2
- Lidar Survey completed
Note: the potential quantity and grade is conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Our consultant has been able to carry grab surface sampling and short surface diamond drill holes prior to heavy snowfalls. A total of 4 small core holes, six grab and four mini-bulk samples have been taken. Samples were sent to ALS Laboratory in Val d’Or for whole rock analysis. The SiO2 grade ranges from 97.23% up to 99.13 %. The grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property.
A preliminary geological model has been prepared with the historical holes (15 diamond drill holes (565 m)) and the potential is defined with the 3D envelope and the 2017 surface samples which connect to the geological units used in the volume calculation. A density of 2.7 is used to convert volume to tonnage.
“This is a positive first step on the La Chesnaye Lake property, the company is looking forward carrying additional exploration works in 2018 after meltdown.” said Hubert Vallée, President & CEO of Canadian Metals Inc.
Quality Control / Quality Assurance (QA/QC) – Preparation
The samples were prepared by at the independent laboratory at ALS Chemex Val d’Or and analysed at their Vancouver facilities. The samples are dried, crushed to have 70% passing 2mm and afterward riffle split to have 250grams which is pulverized with an Agate mill pulverizer to have a pulp 85% passing 75 microns. Afterward an XRF borate fusion with 14 element and LOI analysis was done. At this stage the QP relies on laboratory QA/QC which are in line for this public disclosure as no blank or standard were introduced by GoldMinds.
Claude Duplessis, Eng. of Goldminds Geoservices, a Qualified Person as defined by National Instrument 43-101, is responsible for the La Chesnaye Lake Silica exploration program and has approved the technical information contained in this news release.
About Canadian Metals
Canadian Metals is focused on the development of its Langis project, a high-purity silica deposit located in the province of Quebec. The Company is rapidly positioning itself as a supplier of high purity silica and silicon alloy in North America. Silicon based materials can be formulated to provide a broad range of products from more durable, faster building materials with smarter electronic devices, solar panels and more efficient wind turbines. We expect to become a global supplier for a number of industries and applications but without limitation: glass, ceramics, lighting, oil and gas, paint, plastic and rubber. We also want to become an integrated supplier to metallurgical industries including foundries, and participate in a wide range of civil, industrial, environmental and related applications. These target markets are an integral part of the lives of millions of people every day.
Cautionary Statements Regarding Forward-Looking Information
Certain statements included herein may constitute “forward-looking statements”. All statements included in this press release that address future events, conditions or results, including in connection with the pre-feasibility study, its financing, the hybrid flex project, job creation, the investments to complete the project and the potential performance, production and environmental footprint of the silicon plant, are forward-looking statements. These forward-looking statements can be identified by the use of words such as “may”, “must”, “plan”, “believe”, “expect”, “estimate”, “think”, “continue”, “should”, “will”, “could”, “intend”, “anticipate” or “future” or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties and assumptions, including those mentioned in the Corporation’s continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Corporation and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Corporation is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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President and CEO
Canadian Metals Inc.
Chief Investment Officer