Canadian Metals commences exploration program on properties near Bathurst Mining Camp

Canadian Metals Inc. (CMI) of Montreal has announced current and upcoming exploration plans on multiple properties located in New Brunswick near its Bathurst Mining Camp.

Volcanogenic massive sulfide (VMS) style deposits were mined there between 1957 and 2013, the company says, for a total production of approximately 179 Mt, with an average grade of 3.12% Pb, 7.91% Zn, 0.47% Cu, and 93.9 g/t Ag.

The Goldstrike property claims have a potential for mineralization related to the Rocky Brook-Millstream deformation zone (RBMDZ), a major structural feature which includes the convergence of several major faults that runs from Beresford in the east across both Nicholas-Denys and Goldstrike properties, and to the southwest towards Puma’s Lynx gold discoveries and the company’s Oxford property.

Canadian Metals made a new gold discovery in 2022, the Clarinda NE Extension, where results from trenching yielded up to 48.1 g/t Au over 1.0 m plus many other auriferous quartz veins.

The Nicholas Denys property covers a range of geological target types (porphyry copper-gold-molybdenum, structurally controlled gold, skarn lead-zinc-copper-silver). Multiple areas have demonstrated potential for economic grades in trenching and drilling.

The Sedex property mapping and prospecting work will begin shortly. This property is 12 km from the Brunswick No. 12 mine which had historic production of 136 Mt of ore grading 3.44% Pb, 8.74% Zn, 0.37% Cu, and 102.2 g/t Ag[2], making it one of the largest underground base-metal mines in the world.

Mountain Brook property project is said to exhibit key characteristics for VMS mineralization. The historical drilling programs intersected sulfide stringers (sphalerite/galena/chalcopyrite), prospective units often found in VMS feeder system. A major east/west structure runs across the property, bisecting the folded felsic volcanics, which is believed to be the extension of the host rock to the past producing Heath Steele Mine, a large and productive copper, lead, and zinc mine which operated from 1956 to 1999.

A 2022 IP geophysical survey over the Oxford Brook base metal showing, that was discovered by trenching, identified host felsic volcanic rocks with VMS style zinc-lead-silver type mineralization.