Canada Strategic Metals Inc.
TSX VENTURE : CJC
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Canada Strategic Metals Inc.

June 09, 2015 11:00 ET

Canada Strategic Metals Inc.: The Latest Drilling Program Confirms That the Gold-Bearing "25" Zone Remains Open

MONTREAL, QUEBEC--(Marketwired - June 9, 2015) - Canada Strategic Metals Inc. ("Canada Strategic Metals" or "the Company") (TSX VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) and Matamec Explorations Inc. (TSX VENTURE:MAT)(OTCQX:MHREF) are pleased to report the latest results from the March 2015 drilling program. The recent resultants continue to confirm the west-northwest extension of the "25" Zone envelope of gold mineralization.

The program, which consisted of seven holes for a total of 2,049 metres of drilling, was aimed at increasing the size of the "25" Zone, the main gold zone, in the La Pointe sector of the Sakami property. The "25" Zone, which at the outset of the program had been traced more than 200 metres along strike, to a depth of over 425 metres along its plunge, has now been tested over a strike length of more than 250 metres and to a depth of over 500 metres along its plunge. A surface map showing drillhole locations and sections can be found on the Company's website at: www.csmetals.ca. The next drilling program, planned for the winter of 2016 near the shores of Sakami Lake, will test the west-northwest extension of the "25" Zone.

To date, the Company has received the assay results for Holes PT-15-88 to PT-15-90, from the March 2015 program. These holes were planned to test the extension of the mineralized zone to the west and northwest, as well as down dip. All the holes returned wide gold-bearing intersections, including 0.96 g/t Au over 24.00 metres including 10.65 g/t Au over 0.85 metres in Hole PT-15-88; 3.32 g/t Au over 2.80 metres (new zone) and 0.53 g/t over 52.50 metres, including 2.39 g/t Au over 4.50 metres and 1.94 g/t Au over 7.50 metres in Hole PT-15-89; and 0.63 g/t Au over 42.00 metres, including 1.98 g/t over 4.50 metres in Hole PT-15-90.

Table of mineralized intersections from the recent 2015 drilling program

Hole # From
(m)
To
(m)
Length*
(m)
Au
(g/t)
PT-15-88 322.50 346.50 24.00 0.96
including 338.60 339.45 0.85 10.65
PT-15-89 (New Zone) 255.30 258.10 2.80 3.32
334.50 387.00 52.50 0.53
including 379.50 384.00 4.50 2.39
including 379.50 387.00 7.50 1.94
PT-15-90 354.00 396.00 42.00 0.63
including 391.50 396.00 4.50 1.98

* Core length; the Company estimates the true width of the mineralized zone at 70 to 90% of the core length.

Table of mineralized intersections from holes drilled on the Sakami project in 2013-2015

Hole # From
(m)
To
(m)
Length*
(m)
Au
(g/t)
PT-13-64 68.85 69.90 1.05 1.27
171.00 171.50 0.50 3.62
PT-13-65 112.50 138.00 25.50 3.03
Including 126.00 138.00 12.00 4.00
PT-13-66 109.95 125.40 15.45 1.18
PT-13-67 126.90 154.85 27.95 3.78
Including 132.25 154.85 22.60 4.01
Including 138.00 145.00 7.00 7.21
PT-13-68 200.50 221.00 20.50 2.77
Including 201.65 215.00 13.35 3.23
Including 201.65 205.00 3.35 4.71
278.25 281.10 2.85 2.82
294.00 297.00 3.00 1.70
PT-13-69 213.05 226.50 13.45 1.32
PT-13-70 78.75 99.00 20.25 1.27
Including 78.75 86.00 7.25 2.22
PT-13-71 49.10 51.65 2.55 2.06
102.00 121.50 19.50 2.97
Including 107.40 121.50 14.10 3.78
Including 112.00 121.50 9.50 3.95
PT-13-72 112.50 130.40 17.90 2.24
Including 112.50 119.00 6.50 3.65
PT-14-73 150.65 172.50 21.85 1.46
Including 160.50 172.50 12.00 2.16
PT-14-74 237.65 264.00 26.35 2.30
Including 243.70 252.50 8.80 3.80
Including 247.70 252.50 4.80 5.18
PT-14-75 274.05 281.20 7.15 2.40
PT-14-76 180.00 183.00 3.00 1.57
198.00 199.50 1.50 1.36
Pt-14-77 103.50 104.70 1.20 1.33
129.00 130.50 1.50 1.98
153.00 154.50 1.50 1.00
165.00 168.00 3.00 1.65
174.00 176.00 2.00 1.46
180.00 182.25 2.25 2.02
PT-14-78 193.50 195.00 1.50 1.37
208.50 213.00 4.50 2.15
PT-14-79 188.00 236.20 48.20 2.51
Including 188.00 200.00 12.00 6.93
Including 190.00 196.00 6.00 11.35
Including 202.50 207.00 4.50 1.33
Including 226.50 234.00 7.50 3.06
PT-14-80 157.50 163.50 6.00 1.03
179.00 181.75 2.75 2.08
187.50 190.50 3.00 2.32
201.00 202.00 1.00 1.28
203.00 204.00 1.00 3.11
PT-14-81 228.00 232.60 4.60 2.58
PT-14-82 231.45 271.70 40.25 1.43
Including 231.45 235.50 4.05 5.12
Including 231.45 240.00 8.55 3.58
Including 256.85 259.00 2.15 3.83
Including 267.50 271.70 4.20 2.38
PT-14-83 240.00 295.50 55.50 1.06
Including 240.00 252.00 12.00 3.54
PT-15-84 169.00 217.50 48.50 1.34
Including 169.00 175.50 6.50 3.03
Including 210.00 217.50 7.50 2.50
PT-15-85 148.50 194.00 45.50 1.47
Including 148.50 156.00 7.50 3.84
Including 183.00 194.00 11.00 1.74
PT-15-86 112.10 125.75 13.75 0.94
142.50 165.00 22.50 1.41
PT-15-87 219.40 229.00 9.60 6.86
Including 220.50 227.00 6.50 9.49
PT-15-88 322.50 346.50 24.00 0.96
including 338.60 339.45 0.85 10.65
PT-15-89 (New Zone) 255.30 258.10 2.80 3.32
334.50 387.00 52.50 0.53
including 379.50 384.00 4.50 2.39
including 379.50 387.00 7.50 1.94
PT-15-90 354.00 396.00 42.00 0.63
including 391.50 396.00 4.50 1.98

* Core length; the Company estimates the true width of the mineralized zone at 70 to 95% of the core length.

The 2015 drilling program was managed by Consul-Teck Exploration of Val-d'Or, Quebec, who designed and supervised the program and logged and sampled the core.

Consul-Teck Exploration implemented QA/QC procedures to ensure best practices in sampling and analysis of the core samples. The drill core was logged and then split, with one-half sent for assay and the other retained in the core box as a witness sample. Duplicates, standards and blanks were inserted regularly into the sample stream.

The samples were delivered, in secure tagged bags, directly to the analytical facility for analysis, in this case the ALS Minerals laboratory facility in Val-d'Or, Quebec. The samples are weighed and identified prior to sample preparation. All samples are analyzed by fire assay with AA finish on a 30g sample (0.005-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au.

The "25" Zone and Eleonore Mine mineralization: 6 similarities

The Sakami Property ("Sakami") is located in Archean rocks of the Superior Province, in the transition zone between the La Grande and Opinaca Subprovinces ("La Grande" and "Opinaca", respectively). Elsewhere in the region the contact between the two subprovinces generally corresponds to regional-scale deformation and a sharp change in metamorphic gradient.

La Grande consists of volcano- sedimentary packages linked to greenstone belts (15%), intruded by syn- to post-tectonic tonalites, granodiorites and granites (85%), with the volcanics and sediments deformed around the more resistant intrusives. Metamorphic grade increases from greenschist facies to the amphibolite facies toward the contact with the Opinaca. The Opinaca consists of metamorphosed and folded sedimentary rocks such as paragneisses and migmatites creating E-W trending domes and basins, intruded by syn- to post-tectonic tonalites, granodiorites, granites and pegmatites.

The "S-shaped" La Grande surrounds the Opinaca on its west and north sides, spanning a distance of 450 km in the E-W direction and of 250 km in the N-S direction. Regional faults are mainly present in La Grande and are oriented N-S, E-W and NW-SE defined on outcrop by either a strong tectonic banding or intense shearing with mylonitization.

Goldcorp's producing Eleonore gold deposit ("Eleonore") (December 2014 reserves from the Goldcorp website: 19.3 million tonnes @ 6.5 g/t gold for 4 million ounces of gold; Inferred Resource: 13.25 million tonnes @ 9.63 g/t gold for 4.1 million ounces of gold) sits in La Grande straddling the contact with the Opinaca, some 140 km SE of the Sakami property. The host rocks at Eleonore are conglomerates, greywackes (containing aluminosilicate porphyroblasts), mudstones-argillites, cherts, and intrusive diorites and pegmatites. The mineralization is hosted in a series of near vertical lenses, and is contained in five zones consisting of gold, quartz and 1% to 5% arsenopyrite (As sulphide) veinlets and stockworks within gold-bearing quartz-carbonate-K feldspar-biotite-arsenopyrite-pyrrhotite (magnetitc Fe sulphide) alteration haloes. Minor sulphides include pyrite (Fe sulphide), sphalerite (Zn sulphide), bornite (Cu oxide) and chalcopyrite (Cu sulphide). The lenses are generally 5 metres to 6 metres in true thickness within a wider range of 2 metres to 20 metres. The mineralized zones tend to be folded with thickening in the hinge of folds. Eleonore is thought to belong to a clastic-sediment-hosted stockwork-disseminated end member of the classic greenstone-hosted quartz-carbonate vein deposits, such as those found in the Timmins Camp within the Ontario segment of the Abitibi Greenstone Belt.

At Sakami, work done by Matamec in the southern Long Point claim area from 2000 to 2004 and more recently by Canada Strategic Metals (since early 2014) identified and delineated a number of proximal gold mineralized lenses linked to greywackes, paragneisses, sulphidized iron formations and felsic dykes. The "25" Zone has the most significant gold potential, having been drill-tested (by 62 holes for 13,280 metres) over a 250-metre strike length to a vertical depth of 500 metres. Here, gold is accompanied by finely disseminated 1% to 5% arsenopyrite and minor pyrrhotite, particularly in quartz-tourmaline veins. The higher grade gold is generally associated with a lower gold grade halo of 1 to 3 g/t gold material (EX-31: 10.02 g/t gold over 2.82 metres within an envelope of 2.47 g/t gold over 27.05 metres). The mineralization is accompanied by abundant silica-sericite-K feldspar alteration, with silica flooding being dominant. The mineralization averages 10 metres wide in a range of 8 metres to 50 metres.

Sakami has a number of similarities to Eleonore: (i) it is located at the boundary between the La Grande and Opinaca subprovinces; (ii) it is hosted by metamorphosed sedimentary units; (iii) it has multiple lenses; (iv) it contains arsenopyrite; (v) it has an abundance of a wide alteration corridor with quartz-K feldspar; and (vi) its higher gold grades are accompanied by wider and lower gold grades. The focus at Sakami will be to delineate the size potential of the "25" Zone mineralization in order to produce a geological-resource model in the near term.

Jean-Sebastien Lavallée (OGQ #773), geologist, shareholder and Chief Executive Officer of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.

About Canada Strategic Metals

Canada Strategic Metals is an emerging company focused on the exploration and development of a number of projects covering over 20,000 hectares in Quebec. With broad management experience in green technology and junior resource exploration and development, Canada Strategic Metals is well positioned to aggressively advance this promising property portfolio for its shareholders.

For more information on the Company, please visit www.csmetals.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Jean-Sebastien Lavallee, P. Geo
    Chief Executive Officer
    819-354-5146

    Christophe Romary
    President
    514-913-7483

    Paradox Public Relations
    514-341-0408

    Momentum PR
    450-332-6939