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Canadian Metals Announces Rock Sampling Results from Nicolas Denys Project

10.08.2021  |  CNW
MONTRÉAL, Aug. 10, 2021 - Canadian Metals Inc. ("CME" or the "Corporation") (CSE: CME) is pleased to report results of surface prospecting over the Ann's Creek block which is part of the overall Nicolas-Denys property, covering over 12'000 ha. The project is located in north-eastern New Brunswick, approximately 25 km northeast of the City of Bathurst and contains 117 claims units for a total surface of 2340 hectares, Figure 1. Results highlight the presence of high-grade silver, gold, lead and zinc mineralization in grab samples from outcrops.

The project is in north-eastern New Brunswick, in the Bathurst Mining Camp. The property is easily accessible by road from the town of Bathurst, a full-service community which provides infrastructure and skilled manpower for exploration campaigns.

The total historic production tonnage from the neighbouring Nigadoo mine has been reported as 2,049,843 tons grading 0.28% Cu, 2.39% Pb, 2.50% Zn and 106.87 g/t Ag. The Project is in the Canadian Appalachians and is crosscut by the Rocky Brook-Millstream Fault that represent a major regional-scale structure, transversing the entire property. The mineralization consists of massive to disseminated sulphides in or near carbonate-rich veins, fractures and lenses or gossans that cut sheared and brecciated sediments and thin seams of pyrrhotite and pyrite with disseminated sphalerite and galena.

In the summer of 2020, the former owner's team conducted a sampling program on the Hachey, Dante and Henry zones. A total of 43 samples were collected. These samples were sent to the AGAT laboratory in Toronto for analysis. Most samples had high values in gold, silver, zinc, and lead including the highest value for: gold (Au) 90.8 g/t, silver (Ag) 3590 g/t, zinc (Zn) 27% and lead (Pb) 80.6%.

Table 1: Prospecting results from Ann's Creek work program

HACHEY ZONE

Sample

Au g/t

Ag g/t

Pb %

Zn %

UTM E

UTM N

AgEq/gr*

HZ-20-1

3.12

142

0.6

3.4

281097

5283839

508

HZ-20-2

0.96

782

5

10.1

281111

5283835

1368

HZ-20-3

3.86

580

3.6

5.3

281105

5283839

1158

HZ-20-4

7.26

1900

14.5

10

281099

5283831

3217

HZ-20-5

1.59

314

2.4

5.8

281096

5283833

711

HZ-20-6

4.42

1580

4.9

10.4

281090

5283831

2423

HZ-20-7

1.05

102

0.4

3.2

281088

5283818

306

HZ-20-8

1.81

596

4.8

3

281082

5283815

978

HZ-20-9

5.44

567

2.7

13

281082

5283825

1513

HZ-20-10

0.14

15

0.15

0.11

281077

5283830

34

HZ-20-11

0.43

88

1.5

0.39

281070

5283816

178

HZ-20-12

0.85

237

6.3

11.4

281051

5283814

901

HZ-20-13

1.37

404

1.6

0.37

281077

5283813

564

HZ-20-14

0.7

367

1.3

4.93

281094

5283825

636

HZ-20-15

9.71

3590

20.3

21.4

281114

5283839

5671

HZ-20-16

1.78

137

4.1

5.8

281043

5283807

598

HZ-20-17

0.98

42

0.25

4.2

281069

5283825

266

HZ-20-18

1.91

80

0.11

0.42

281088

5283836

222

HZ-20-19

1.98

26

0.046

1.2

281148

5283854

214

HZ-20-20

0.33

41

0.14

0.74

281139

5283865

96

HZ-20-21

1.61

111

0.46

0.42

281141

5283858

256

Average







1038

HENRY EAST ZONE

Sample

Au g/t

Ag g/t

Pb %

Zn %

UTM
East

UTM
North

AgEq/gr*

HE-20-1

10.3

722

13.8

4

279279

5283323

2018

HE-20-2

24.7

627

12.6

12.2

279301

5283331

3224

HE-20-3

18

773

16.2

11.3

279309

5283335

2961

HE-20-4

5.76

646

13.9

8.1

279325

5283339

1768

HE-20-5

12.2

93

1.9

2.5

279342

5283344

1119

HE-20-6

90.8

1420

30

5.6

279473

5283384

9050

HE-20-7

4.4

494

9.2

4.7

279360

5283345

1255

HE-20-8

38.3

752

13.7

5.9

279208

5283302

4131

Average







3191

DANTE WEST ZONE

Sample

Au g/t

Ag g/t

Pb %

Zn %

UTM
East

UTM
North

AgEq/gr*

DW-20-1

0.05

145

6.4

24

279450

5283904

1214

DW-20-2

0.94

1670

80.6

0.7

279529

5283898

4151

DW-20-3

2.02

55

10

27

279580

5283903

1481

DW-20-4

0.28

70

18

5.3

279584

5283886

817

DW-20-5

2.7

78

2

14

279585

5283894

842

DW-20-6

0.41

21

0.8

0.8

279588

5283888

103

DW-20-7

0.68

1350

67

2.4

279580

5283899

3471

DW-20-8

6.25

156

2.3

5.7

279584

5283891

882

DW-20-9

1.35

409

17

14

279553

5283908

1520

Average







1609

DANTE EAST ZONE

Sample

Au g/t

Ag g/t

Pb %

Zn %

UTM
East

UTM
North

AgEq/gr*

DE-20-1

0.008

19

1.3

1.3

279766

5283964

105

DE-20-2

0.028

63

0.9

0.3

279770

5283960

103

DE-20-3

0.008

37

0.3

0.4

279762

5283969

61

DE-20-4

0.091

634

33

4.8

279761

5283974

1787

DE-20-5

0.034

173

9.5

4.8

279759

5283980

632

Average







538

* Assumptions used in USD for the silver equivalent calculation were metal prices of $25.00/oz Ag, $1800/oz Au, $1.08/lb Pb and $1.30 Zn and recovery is assumed to be 100% as no metallurgical test data is available.

Samples collected on Henry East give results with high grade gold values, which had not been recorded in the past. Eight rocks were analysed, six of them give results of more than 10 g/t Au and up to 600g/t Ag, of which 4 of these massive sulphide rocks give gold values of 90 g/t, 38 g/t, 24 g/t, 18 g/t plus more than 600 g/t Ag for an average AgEq of 3,19 kg AgEq.

For the Hachey area, 21 rocks were analysed. Fifteen of these rocks give values of more than 100 g/t Ag, including 3590 g/t Ag, 1900 g/t Ag, 1580 g/t Ag, 782 g/t Ag, 596 g/t Ag, 580 g/t Ag, 567 g/t Ag, 400 g/t Ag, 367 g/t Ag, 314 g/t Ag, 237 g/t Ag, 142 g/t Ag, 137 g/t Ag, 102 g/t Ag and 111 g/t Ag. Hachey area also reported gold results of more than 1 g/t Au on more than 12 rocks, including values of up to 9.71 g/t Au, 7.28 g/t Au and 5.44 g/t Au plus high silver content of up to 359 g/t for an average AgEq of over 1kg/t Ag

On the Dante East area, five rocks were collected over a width of 24 metres. Two of these rocks give values of 173 g/t Ag and 634 g/t Ag and more than 33% Pb for an average AgEq of 538 g/t.

On Dante West nine rocks were collected, five of which give results of more than 100 g/t Ag, including 1670 g/t Ag, 1350 g/t Ag, 409 g/t Ag, 156 g/t Ag and 145 g/t Ag. Four of these rocks also give results of more than 1 g/t Au, including 6.25 g/t Au, 2.70 g/t Au, 2.02 g/t Au and 1.35 g/t Au. Very high lead values have also been detected in these rocks of up to 80% Pb for an average AgEq of 1609g/t.

Mr. Stéphane Leblanc, President & CEO comments: "From historic data on the property, we knew about the high-grade mineral potential within the Nicolas-Denys project. Anyhow, the present sampling program on Ann's Creek was a great success and demonstrates the high-grade mineral potential of the property".

The technical contents of this press release were approved by George Yordanov, professional geologist, an Independent Qualified Person as defined by National Instrument 43-101.

About Canadian Metals Inc.

Canadian Metals is a diversified resource company focused on creating shareholder value through the development of large-scale mineral deposits in specific commodities and safe jurisdictions.

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

The statements in this news release that are not historical facts are "forward-looking statements". Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those described in such "forward-looking" statements.

SOURCE Canadian Metals Inc.



Contact
Stéphane Leblanc, President and CEO, Website: www.canadianmetalsinc.com

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