March 01, 2011
Black Horse Mine ownership Transfer
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Vancouver, B.C.: CMC Metals Ltd. (the "Company") is pleased to announce it has acquired a 50 percent ownership in the Chesco claims located in Esmeralda County, Nevada for a payment of $50,000. The Chesco claims, also known as the Black Horse Mine, are located 45 miles from the Bishop Mill facilities, owned by the Company. It is the Company's intention to start the process of acquiring exploration permits for the Chesco claims to evaluate the grades, tonnage, and for mining as a feedstock for the Bishop Mill.
Currently the Chesco claims have an open pit that exposes a 30 foot wide by over 1000 foot long structure. Four benches have been developed to access the mineralized zone and stated by Pruett Ballarat Inc. ("PBI") to contain over 100,000 tons. Past mining at the Black Horse Mine included 3000 tons at a grade of 0.5 percent tungsten and 0.5 percent molybdenum was processed at the Pine Creek mill in 1956. An additional 1200 tons grading 0.25 percent tungsten and 0.27 percent molybdenum was processed by Argentum in 1976 and produced concentrate grading 15 percent tungsten and 17 percent molybdenum.
During a due diligence site inspection by Don Wedman, P.Eng., President and Chief Executive Officer of the Company, a number of channel chip samples where take from three of the developed benches. Two highlight samples assayed were BH10-02 with 1.80 percent molybdenum and 0.21 percent tungsten and sample BH10-05 with 0.21 percent molybdenum and .07 percent tungsten. It should be noted that the tungsten content was assayed for Powellite (a Moly/Tungsten mineralization) and doesn't include tungsten values from Scheelite mineralization. Additional assays will be testing the Scheelite tungsten to determine total tungsten content.
In compliance with NI 43-101, Don Wedman, P.Eng., President and Chief Executive Officer of the Company, is the Qualified Person who prepared or supervised the preparation of the technical information presented in this news release.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
On behalf of the Board:
"Donald W. Wedman"
Donald W. Wedman, P.Eng.
CMC METALS LTD.