August 10, 2021, Montréal, Québec. – 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.
Figure 1. Map of claim blocks comprising the Ann’s Creek block and the historic mineral occurrences.
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.
For more information, please contact:
Stéphane Leblanc President and CEO
Website: www.canadianmetalsinc.com
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.