Drill Program Paused Until the Winter for Drilling From the Ice
August 20 2019 - 10:42AM
Chibougamau Independent Mines Inc. (CBG-TSX-V in Canada,
CLL1-Frankfurt, Stuttgart and Lang & Schwarz Stock Exchanges in
Germany, CMAUF-OTC in the US), herein called Chibougamau,
wishes to inform shareholders that it has ended the current drill
program at our 100% owned
C-3 copper/gold discovery on the
Bateman Bay property in the Chibougamau Mining Camp.
Core from the last holes is currently being
bound onto pallets and will be moved to our Rouyn-Noranda coreshack
where final logging and core splitting will take place and samples
sent for analysis.
Immediately after terminating the C-3 drilling,
the drill was moved to our 100% owned Copper Cliff
property to test a perceived plunge direction of historical gold
mineralization. This core is also being transported to
Rouyn-Noranda for detailed logging, splitting and assaying.
It is our intention to return to the C-3 zone
this winter in order to test the southeastern strike of the zone
from the ice as drilling from a barge would be very costly.
In addition, several other target areas have been outlined where
shallow historical drilling in numerous holes has indicated one or
more copper/gold zones that are open to depth on strike of the C-3
zone. Similarly, if the Copper Cliff drill hole returns good
assays, additional drilling will be planned.
Chibougamau holds a massive land package in the
Chibougamau Mining Camp and will continue to advance the various
assets.
This press release was written by Jack Stoch,
Geo., President and CEO of Chibougamau Independent Mines Inc. and
Pierre Riopel, Geo., Project Manager, in their capacity as
Qualified Persons (Q.P.) under NI 43-101.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of the release.
We Seek Safe Harbour. |
CUSIP Number 167101 203LEI 529900GYUP9EBEF7U709 |
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For further information, contact: |
Jack Stoch, P.Geo.,
Acc.Dir.President & CEOChibougamau Independent Mines Inc.86,
14th StreetRouyn-Noranda, Quebec Canada J9X 2J1 |
Tel.: 819.797.5242Fax:
819.797.1470 info@chibougamaumines.comwww.chibougamaumines.com |
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Forward Looking Statements Except for
historical information this News Release may contain certain
“forward looking statements”. These statements may involve a number
of known and unknown risks and uncertainties and other factors that
may cause the actual results, level of activity and performance to
be materially different from the Companies expectations and
projections. A more detailed discussion of the risks is available
under “disclaimer” on the Company’s website.
46,695,042 shares issued and
outstanding
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