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CMC Metals Ltd. has filed for exploration applications for the Amy and Silverknife projects in British Columbia. The permits allow for various exploration activities, including geophysical surveys and drilling, and reviews are expected to take 4-6 months. At Silverknife, geological mapping aims to assess areas near the Silvertip Mine. The Amy project will involve data compilation and modeling of historical drilling results. The Company is also engaging with First Nations regarding exploration activities. The exploration programs are deemed affordable and may enhance the company's asset value.
CMC Metals Ltd. has acquired an option for a 100% working interest in the Rodney Pond Property, located in the promising Gander Subzone of Newfoundland. The agreement involves initial payments of $10,000 and 50,000 common shares, with escalating payments over the next three years. The property spans 675 hectares and features significant mineralization, including assays of up to 7.1% copper and 27.2 g/t silver. This acquisition enhances CMC's portfolio, which now includes three properties in the area, providing exposure to high-grade polymetallic deposits.
CMC Metals Ltd. announced the discovery of high-grade polymetallic samples at its Amy property in British Columbia, which is located near the Silvertip mine. Recent exploration included five grab samples yielding significant amounts of silver, lead, and zinc, with the highest silver concentration at 4,010 g/t. The company aims to advance the project to a drill-ready stage and has plans for further geological mapping and sampling in 2022. The strategic location and historical exploration results enhance the property's potential for significant mineral deposits.
CMC Metals Ltd. announced the results of its 2021 AGM held on December 7, 2021. Shareholders approved all proposed resolutions, including the election of directors, the appointment of auditors, and the establishment of an Incentive Stock Option Plan. A total of 9,797,245 shares were voted, representing 10.32% of the outstanding shares. The company also appointed Robert Csada as an advisor, bringing extensive experience. Additionally, 2,500,000 stock options were granted to directors and staff at an exercise price of $0.12 per share.
CMC Metals Ltd. announced successful drilling results from the Silver Hart project, reporting multiple high-grade silver-lead-zinc intersections, notably 4,910.8 g/t silver equivalent over 2.3 meters. A total of 2,100 meters of drilling across 19 holes was completed, extending the TM West Vein by 360 meters. The results will be integrated into resource modeling to guide future drilling, with a target of an additional 10,000 meters planned. CEO Kevin Brewer highlighted the exploration potential, noting over 10 areas yet to be investigated in the Main Zone.
CMC Metals Ltd. has adopted an Advance Notice Policy to streamline the process for director nominations by shareholders. Effective immediately, this policy sets clear deadlines for submitting nominations prior to annual and special meetings, facilitating informed voting. Nominations for annual meetings must be submitted 30 to 65 days in advance, and for special meetings, no later than 15 days post-announcement. Shareholders will vote on this policy at the upcoming meeting on December 7, 2021. Full details are available at www.sedar.com.
