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

Canada Strategic Metals Inc.

September 30, 2015 11:03 ET

New Gold Zone Grading Up to 45.9 g/t Au in Grab Sample Discovered on the Sakami Project

MONTREAL, QUEBEC--(Marketwired - Sept. 30, 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 results of its summer exploration program on the Sakami Project. The program consisted of geological and geophysical surface work in two separate areas, JR and Peninsule areas.

The first area worked on was the JR area, where detailed mapping and sampling were carried out. This was followed by geochemical and magnetic-electromagnetic geophysics surveying on the Peninsule area. A total of 303 grab samples of rock were collected from the two areas and sent to the ALS laboratory in Val-d'Or to be assayed for gold. This work resulted in the discovery of a new gold zone in the Peninsule area that returned up to 45.9 g/t Au in grab samples** (see map on the website at: www.csmetals.ca). The new showing coincides with a geophysical anomaly demonstrating a strong magnetic low, as well as being at the junction of several faults. The new gold zone is also located on the contact between the Laguiche (Opinaca) sediments and the La Grande volcanic belt, similar to the Zone 25 gold zone in the La Point area. Work will be needed to fully assess the size of the showing, but the initial work appears to indicate a zone of severalΓÇïΓÇï tens of metres. The magnetic and electromagnetic geophysical survey in the Peninsule area also highlighted several other magnetic anomalies associated with conductors. Some of these anomalies are considered priorities and will be followed up in future work programs. The results of the geochemical soil survey (B horizon) across the Peninsule area with systematic sampling at 50 metre intervals on lines spaced at 100 metres apart will be released as soon as they have been received and compiled. A total of 728 samples were collected and sent to the ALS laboratory to be assayed for gold and indicator minerals.

Table of results over 0.1 g/t Au

Grab Sample # Easting
(UTM Nad 83 zone 18)
Northing
(UTM Nad 83 zone 18)
Area Au (g/t)
123823 376227 5897573 Peninsule 45.9
123825 376227 5897573 Peninsule 2.04
123826 376227 5897573 Peninsule 1.165
123828 376227 5897573 Peninsule 0.612
123824 376227 5897573 Peninsule 0.272
123827 376227 5897573 Peninsule 0.186
575917 378337 5901221 Peninsule 0.168
647231 378270 5902086 JR 5.36
647314 378804 5901185 JR 1.425
647217 379117 5901295 JR 1.155
647118 378648 5901412 JR 0.407
647077 379801 5901813 JR 0.397
647310 378893 5901385 JR 0.392
647075 379857 5901734 JR 0.281
647224 379011 5901306 JR 0.274
647065 378357 5900712 JR 0.23
647044 378310 5900421 JR 0.164
647019 378576 5901036 JR 0.157
647243 378019 5901749 JR 0.149
647236 378251 5901754 JR 0.124
647232 378270 5902086 JR 0.11
647017 378842 5901084 JR 0.109

** The grab samples are selective by nature and are unlikely to represent the average grade of the deposit.

Channel
Name
Easting
(UTM Nad 83 zone 18)
Northing
(UTM Nad 83 zone 18)
Bearing
(°)
From
(m)
To
(m)
Length
(m)
Area Au (g/t)
R1 376222 5897571 340 0 1 2 Peninsule 0.173
1 2 0.327
R2 376227 5897572 340 0 1 3 Peninsule 0.025
1 2 0.045
2 3 0.127
R3 376232 5897574 340 0 1 2 Peninsule 0.383
1 2 0.741

* Channel located on Indice Simon in the Peninsule area.

The goal of the summer program was to follow up on the various gold showings identified in the past in the JR area, which returned grades of up to 61.37 g/t Au (see press release dated 24 October 2013). The program was also aimed at the planning of future drilling work in this area. Work on the Peninsule area was aimed at generating new targets and possibly identifying new showings.

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.

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.

About Sakami

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, 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 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.

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 and Chief Executive Officer
    819-354-5146
    www.csmetals.ca

    Paradox Public Relations
    514-341-0408