ROUYN-NORANDA, Québec, Aug. 20, 2019 (GLOBE NEWSWIRE) -- 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 203|
|For further information, contact:|
|Jack Stoch, P.Geo., Acc.Dir.|
President & CEO
Chibougamau Independent Mines Inc.
86, 14th Street
Rouyn-Noranda, Quebec Canada J9X 2J1
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