Canada Strategic Metals Inc.
TSX VENTURE : CJC
FRANKFURT : YXEN
OTCBB : CJCFF

Canada Strategic Metals Inc.

July 03, 2014 10:04 ET

CJC Intersects 2.51 g/t Au Over 48.20 Metres, Including 6.93 g/t Au Over 12.00 Metres and 11.30 g/t Au Over 6.00 Metres at the Sakami Project

MONTREAL, QUEBEC--(Marketwired - July 3, 2014) - Canada Strategic Metals Inc. ("Strategic Metals" or the "Company") (TSX VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) and Matamec Explorations Inc. ("Matamec") (TSX VENTURE:MAT)(OTCQX:MHREF) are very pleased to report the results from holes PT-14-76 to PT-14-80, drilled in March and April during the latest exploration program on the Sakami gold property. The new results confirm the extension of the Zone 25 gold mineralization envelope to the west, to the northwest and at depth. The recent results also confirm that the contact corridor between the Opinaca-La Grande volcano-sedimentary sub-provinces is fertile for significantly-enriched gold mineralization. This horizon has now been traced over a strike length of more than 200 metres and to a depth of more than 375 metres along its plunge. The latest drilling program on the Sakami property consisted of a total of 2,913 metres in 11 holes; results for the last three holes, drilled along strike and plunge from Hole PT-14-79, are still pending.

The program was aimed at increasing the size of the main gold zone (Zone 25) to the west-northwest, as well as its extension at depth. Zone 25 is in the La Pointe sector of the Sakami property. The program completed the testing of Zone 25 over a strike length of more than 200 metres and to a depth of over 425 metres along its plunge. The holes were spaced at 50 metres. A map showing the hole locations can be found on the Company's website at: www.csmetals.ca.

The Company has received the assay results for five additional holes, PT-13-76 to PT-13-80, drilled in March and April as part of the program. These holes were planned to test the extension of the mineralized zone to the west and northwest, as well as down dip. They all returned gold-bearing intersections with significant gold grades, particularly Hole PT-14-79, which returned 2.51 g/t Au over 48.20 metres, including 6.93 g/t over 12.00 metres, 11.35 g/t Au over 6.00 metres and 3.06 g/t Au over 7.50 metres. All the mineralized intersections and assay results received to date are shown below.

"Our company is very pleased to confirm the potential for high grade gold zone at the Sakami project, as well as the extension of the main zone, Zone 25, at depth and along strike," said Jean-Sebastien Lavallée, President and Chief Executive Officer of Canada Strategic Metals. "It is also encouraging to see the presence of multiple parallel, highly-anomalous gold zones confirmed. The positive drill results from the last exploration program once again confirm the Sakami project's gold potential. We are looking forward to receiving the results for the last three holes, drilled 50 metres south and 50 and 100 metres west-northwest of Hole PT-14-79, along its plunge."

The Company will release the results for holes PT-14-81 to PT-14-83 as soon as they have been received and compiled.

Table of mineralized intersections from the recent drilling program

Hole # From
(m)
To
(m)
Length*
(m)
Au
g/t
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
* Core length; the Company estimates the true width of the mineralized zone at 80 to 95% of the core length.

Table of mineralized intersections from holes drilled on the Sakami project since December 2013

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
* Core length; the Company estimates the true width of the mineralized zone at 80 to 95% of the core length.

The 2014 drilling program was managed by Consul-Teck Exploration of Val-d'Or, Quebec, which designed the drilling campaign, supervised the program and logged and sampled the core.

Consul-Teck Exploration implemented QA/QC procedures to ensure best practices in core sampling and analysis. 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 in secure tagged bags were delivered directly to the analytical facility for analysis. In this case, the analytical facility was the Bourlamaque Ltee laboratory 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 (0.01-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au.

Jean-Sebastien Lavallée (OGQ #773), geologist, shareholder and President 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 Matamec Explorations

Matamec Explorations Inc. is a mining exploration company whose focus is developing the Kipawa HREE deposit with TRECan, with the goal of supplying Toyota with HREEs for the production of hybrid and electric cars. The company is exploring 35 km of strike length in the Kipawa Alkalic complex for rare earths-yttrium-zirconium-niobium-tantalum mineralization on its Zeus property. Matamec is also exploring for gold at its Matheson joint-venture property, which is located along strike and in close proximity to the Hoyle Pond mine in Timmins, Ontario. In Quebec, the company is exploring for lithium and tantalum on its Tansim property and for precious and base metals on its Sakami, Valmont and Vulcain properties. For more information, please visit www.matamec.com.

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
    President & Chief Executive Officer
    819-354-5146

    Paradox Public Relations
    514-341-0408