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Chibougamau Independent Mines Inc.
Summary
| Project: | Bateman | |
|---|---|---|
| Deposit: | Bateman | |
| Location: | Canada | |
| Commodities: | Gold-Copper | |
| Date: | 1/18/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 18-1-2017: Chibougamau Independent Mines Inc. announces an Exploration/Drilling Update report for its Bateman deposit at the Bateman project. Drilling results incl. 12.5m @ 1.72g/t Au, 3.61% Cu from 260m. Chibougamau Independent Mines Inc. (TSX VENTURE: C | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jack Stoch (Internal) | |
| ABSTRACT: | Chibougamau Independent Mines Inc. (TSX VENTURE: CBG) (STUT:CLL) (OTC Markets (USA) : CMAUF) is pleased to inform shareholders that it has received assays from two drill holes on the C3 copper-gold zone on our Bateman Mine property located in McKenzie Township, 8 km east of the town of Chibougamau, Quebec. The Bateman Mine property is one of five former copper-gold mines and the down dip of three other large copper-gold mines, one zinc, gold, silver deposit and a large vanadium-iron zone optioned to Vanadium One Energy Corp. (VONE), that Chibougamau Independent owns in the Chibougamau Mining Camp. In total, Chibougamau Independent owns approximately one half of the area of the mining camp including numerous underexplored areas with mineralization in drill holes and on surface. Most of Chibougamau Independent’s assets have only been drilled to a shallow depth including the wholly owned mine assets. Over the 90 m down dip distance between the drill holes, the width of the mineralized zone has doubled, the copper grade has remained the same and the gold grade has doubled. The mineralized zone is composed of massive and stringer chalcopyrite in anorthosite within the border zone of the Lac Dore Complex. Due to the presence of manganiferous siderite, a strike direction of 110o and a steep dip to the northwest, the Company believes that this structure may represent a “mineralized mine shear”, similar to most structures historically mined in the Chibougamau Mining District. It is likely that the next step in exploring the copper-gold zone will be a down hole electromagnetic survey to better define the strike and depth potential of the copper-gold zone followed by step out drilling. | |
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