Bemetals Commences Resource Expansion and Confirmation Drilling Program at the High-Grade South Mountain Zinc-Silver Project in Idaho
August 1, 2019
VANCOUVER, CANADA - BeMetals Corp. (TSXV: BMET) (“BeMetals” or the “Company”) is pleased to announce the commencement of BeMetals’ initial core drilling program at the high-grade South Mountain Zinc-Silver Project (“South Mountain” or the “Project” or “Property”) in southwestern Idaho, U.S.A. This summer’s drilling campaign is designed to test potential extensions and confirm the grade distribution of the mineral resource outlined in the independent technical report titled, “National Instrument 43-101 Technical Report Updated Mineral Resource Estimate for the South Mountain Project Owyhee County, Idaho, USA.”, with an effective date of April 1, 2019, and available on the Company’s website at www.bemetalscorp.com and on SEDAR at www.sedar.com.
HIGHLIGHTS OF THE PLANNED 2019 RESOURCE EXPANSION DRILLING PROGRAM
- BeMetals to drill approximately 20 holes for some 2,500 metres from five underground drilling platform locations within the Sonneman adit.
- The drilling program is designed to test potential down plunge extensions to the mineralised zones and confirm the grade distribution of the current polymetallic mineral resource.
- Explore and scope the Texas Zone where the potential exists for an increased copper component to the mineralisation based upon historical mining records.
- Provide a first phase of new drilling data towards the completion of a preliminary economic assessment study in 2020.
John Wilton, President and CEO of BeMetals, stated, “We are very pleased to have launched today’s underground drilling at the high-grade South Mountain Zinc-Silver Project. This will be our first opportunity to trace the mineralisation within close proximity to the existing Sonneman level, where we see good potential to increase our resource base.
BeMetals is one of very few junior mining development and exploration companies to be actively operating two concurrent core drilling programs this summer. In addition to drilling at South Mountain, our core drilling campaign at the Pangeni Copper Exploration Project in Zambia is now well-underway. Initial drilling results from both the South Mountain and Pangeni projects are expected by early fall of this year.”
THE PLANNED 2019 RESOURCE EXPANSION DRILLING PROGRAM
Over the past few months, BeMetals has formed a project team that is focused on advancing South Mountain and is based in Boise, Idaho. This team includes key management of Thunder Mountain Gold Inc., the Optionees of the Property, who have coordinated re-establishment of the Project site for the start of drilling. In addition, BeMetals has appointed a project manager and project geologist for this team. Recent work at the Project included; grading of access road sections to the site, reconnecting the electrical power system generated onsite, and restarting of the underground ventilation system.
During this summer’s exploration program at South Mountain, BeMetals plans to complete a total of about 20 holes with approximately 2,500 metres of diamond drilling. Fourteen borehole collars are currently planned and surveyed with a further six positions contingent upon field results of the initial holes. The Company will drill from the existing underground workings in the Sonneman Level as drilling from underground will provide more accurate and cost effective drilling than from the surface. The drilling will be conducted, in general, as a series of fans from five drill platform locations within the existing Sonneman level. Two to five holes will be drilled from each platform in order to test the down plunge extension of the deposit below previously stoped areas. See Figures 1 and 2 below for the drill platform locations, the initially planned 14 boreholes, and targeted mineralised zones from the results of previous underground rib sampling of the Sonneman Level ribs at South Mountain.
HIGHLIGHTS FROM 2013-2014 RIB-SAMPLING PROGRAM
- DMEA Zones 1/2/3; 39.62m @ 16.76% Zinc (“Zn”), 140.91 grams per tonne (“g/t”) Silver (“Ag”),
3.08 g/t Gold (“Au”), 0.78% Copper (“Cu”) and 0.38% Lead (“Pb”)
- Muck Bay #4 Zone; 7.01m @ 14.69% Zn, 246.17 g/t Ag, 0.34% Cu and 0.65% Pb
- Laxey Zone; 12.19m @ 16.44% Zn, 478.97 g/t Ag, 0.68 g/t Au, 0.70% Cu and 0.86% Pb
(See BeMetals press release dated June 18, 2019 for more details on rib sampling results)
Figure 1: Plan View of Sonneman & Laxey Levels, showing locations of previously reported rib sampling
Figure 2: Long Section of Sonneman Level, (Looking northeast), showing initial 14 borehole locations
South Mountain is a polymetallic development project focused on high-grade zinc and is located approximately 70 miles southwest of Boise, Idaho. The Project was intermittently mined from the late 1800s to the late 1960s and its existing underground workings remain intact and well maintained. Historic production at the Project has largely come from skarn-hosted and high-grade massive sulphide bodies that remain open at depth and along strike. According to historical smelter records, approximately 53,642 tons of ore have been mined to date. These records also indicate average grades; 14.5% Zn, 363.42 g/t Ag, 1.98 g/t Au, 2.4% Pb, and 1.4% Cu were realised.
ABOUT BEMETALS CORP.
BeMetals' founding Directors include Clive Johnson, Roger Richer, Tom Garagan and John Wilton. BeMetals is a new base metals exploration and development company focused on becoming a significant base metal producer through the acquisition of quality exploration, development and potentially production stage base metals projects. The Company is advancing both its early stage, tier one targeted, Pangeni Copper Exploration Project in Zambia, and its advanced high-grade, zinc-silver polymetallic underground exploration at the South Mountain Project in Idaho, USA. The Company’s growth strategy is led by our strong Board, key members of which have an extensive proven record of delivering considerable value in the mining sector through the discovery, construction and operation of mines around the world. The Board, its Advisors, and senior management also provide outstanding deal flow of projects to BeMetals based upon their extensive network of contacts in the international minerals business.
The technical information in this news release for BeMetals, has been reviewed and approved by John Wilton, CGeol FGS, CEO and President of BeMetals, and a “Qualified Person” as defined under National Instrument 43-101.
ON BEHALF OF BEMETALS CORP.
President, CEO and Director
For further information about BeMetals please visit our website at www.bemetalscorp.com and sign-up to our email list to receive timely updates, or contact:
Vice President, Investor Relations & Corporate Development
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Cautionary Note Regarding Forward-Looking Statements
This news release certain contains "forward-looking statements" and “forward looking information” (as defined under applicable securities laws), based on management’s best estimates, assumptions and current expectations. Such statements include but are not limited to, statements with respect to: (i) potentially extending the mineralised zones down plunge and confirming the grade distribution of the current polymetallic mineral resource; (ii) releasing initial drilling results from both the South Mountain and Pangeni projects by early fall of this year; and (iii) increasing the copper component to the mineralisation. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. These statements should not be read as guarantees of future performance or results. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements. Important factors that could cause actual results to differ materially from expectations include, without limitation, the actual results of exploration activities, the availability of financing and/or cash flow to fund the current and future plans and expenditures, the ability of the Company to satisfy the conditions of the option agreements for the South Mountain Project and/or the Pangeni Project, and changes in the world commodity markets or equity markets. Please refer to the Company’s most recent filings under its profile at www.sedar.com for further information respecting the risks affecting the Company and its business. The forward-looking statements and forward looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. The Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any forward-looking statements or forward looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information.