BMET BeMetals Corp

TSXV: BMET    

VANCOUVER, June 18, 2019 /CNW/ - BeMetals Corp. (TSXV: BMET) ("BeMetals" or the "Company") is pleased to announce it has identified a series of significant priority high-grade target zones at its South Mountain Project ("South Mountain" or the "Property") in southwestern Idaho, U.S.A. The target zones have been determined from the compilation and modelling of historical geological and sampling information from two levels of existing underground development, including areas of previous mine stoping. In addition, all existing underground and surface drilling data have been included in the targeting study. An important data set in identifying the priority target zones were the results from previous underground channel sampling of the Sonneman Level ribs at South Mountain.

Highlights from Rib-Sampling Program

• DMEA Zones 1/2/3; 39.62m @ 16.76% Zinc ("Zn"), 140.91 grams per tonne ("g/t") Silver  ("Ag"), 3.08 g/t Gold ("Au"), 0.78% Copper ("Cu") and 0.38% Lead ("Pb")
• Muck Bay #4 Zone; 7.01m @ 14.69% Zn, 246.17 g/t Ag, 0.34% Cu and 0.65% Pb
• Laxey Zone; 12.19m @ 16.44% Zn, 478.97 g/t Ag, 0.68 g/t Au, 0.70% Cu and 0.86% Pb

The rib-sampling results indicate the high-grade and polymetallic nature of the South Mountain deposit, as illustrated in Table 1 below, across a number of currently identified, closely spaced, mineralized bodies forming the deposit. Orientations of these samples are predominantly from the rib along the length of the drift, which is approximately along strike of the deposit, or from the ribs of the cross-cuts adjacent to the drift. Figures 1 and 2 illustrate the location of the rib-sampling program results conducted in 2013 and 2014.

John Wilton, President and CEO of BeMetals, commented, "As we continue to work through the historical information at South Mountain, with input from Thunder Mountain Gold Inc., the Optionees, the full extent and exciting upside of the project is becoming more apparent. The underground rib-sampling of the Sonneman Level demonstrates the significant, high-grade, nature of the polymetallic mineralization.

Select targets will be tested through the completion of a 2,500m underground core-drilling program in 2019. The drilling program is expected to start upon site re-establishment and modest amounts of re-equipping at the Sonneman Level development."

UNDERGROUND RIB-SAMPLING AND PRORITY TARGET LOCATIONS

Table 1 below shows the results of the 2013-2014 rib-sampling program that provides four initial priority targets for underground drill testing. The sampled mineralized zones are characterised by high-grade zinc and silver grades with additional copper and lead values.

Table 1: Sonneman Level Channel Sampling Results at South Mountain Deposit, 2012-2013

Figure 1 below illustrates the location of the historical rib-sampling zones on a plan view of the Sonneman and Laxey underground developments. These four priority target zones are further supported by the integration of underground geological mapping and resource modelling of existing drilling data. In addition to these zones the Texas target provides another priority for drill testing based upon historical surface and underground drilling compilations.

Figure 2 is a long section through the South Mountain deposit showing; the location of the rib-sampling, related priority targets, the Texas Zone target and planned boreholes to test the mineralization. The planned drilling is principally designed as a series of fans to test the down plunge extension potential of the deposit, and to scope the optimum borehole spacing that may be required to expand the current resource. A number of other valid targets have also been identified, in close proximity to the priority targets, and these will be scheduled for drill testing, partially guided, by results of the initial drilling.

THE SOUTH MOUNTAIN PROJECT

South Mountain is a polymetallic development project focused on high-grade zinc and is located approximately 70 miles southwest of Boise, Idaho (see Figure 3). The Project was intermittently mined from the late 1800s to the late 1960's and its existing underground workings remain intact and well maintained. Historic production at the Project has largely come from skarn-hosted and high-grade massive sulphide bodies that remain open at depth and along strike. According to historical smelter records, approximately 53,642 tons of ore have been mined to date. These records also indicate average grades; 14.5% Zn, 363.42 g/t Ag, 1.98 g/t Au, 2.4% Pb, and 1.4% Cu were realised.

The Project is largely on and surrounded by private surface land, and as such, the permitting and environmental aspects of the Project are expected to be straightforward. Permits are in place for underground exploration activities and BeMetals does not anticipate significant barriers to any future development at the Project.

Since 2008, the Optionees of the project have completed some 27 drill holes for a total of 5,500 metres on the Property. Thus far, drill results have been encouraging and significant potential exists to increase the known mineral resource with additional drilling, as well as to expand the existing measured and indicated mineral resource classifications with in-fill drilling. 

Table 2. NI 43-101 Mineral Resource Statement for the South Mountain Project - April 1, 2019

1. The effective date of the mineral resource estimate is April 1, 2019. The QP for the estimate is Mr. Randall K. Martin of Hard Rock Consulting, LLC, is independent of BeMetals Corp.
2. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources that are part of the mineral resource for which quantity and grade or quality are estimated on the basis of limited geologic evidence and sampling, which is sufficient to imply but not verify grade or quality and continuity. Inferred mineral resources may not be converted to mineral reserves. It is reasonably expected, though not guaranteed, that the majority of Inferred mineral resources could be upgraded to Indicated mineral resources with continued exploration.
3. The mineral resource is reported at an underground mining cutoff of 6.04% Zinc Equivalent ("ZnEq") within coherent wireframe models. The ZnEq calculation and cutoff is based on the following assumptions: an Au price of US$1,231/oz, Ag price of US$16.62/oz, Pb price of US$0.93/lb., Zn price of US$1.10/lb. and Cu price of $2.54/lb.; metallurgical recoveries of 75% for Au, 70% for Ag, 87% for Pb, 96% for Zn and 56% for Cu, assumed mining cost of US$70/ton, process costs of US$25/ton, general and administrative costs of US$7.50/ton, smelting and refining costs of US$25/ton. Based on the stated prices and recoveries the ZnEq formula is calculated as follows; ZnEq = (Au grade * 43.71) + (Ag grade * 0.55) + (Pb grade * 0.77) + (Cu grade * 1.35) + (Zn grade).
4. Rounding may result in apparent differences when summing tons, grade and contained metal content. Tonnage and grade measurements are in imperial units.

About BEMETALS CORP.

BeMetals' founding Directors include Clive Johnson, Roger Richer, Tom Garagan and John Wilton. BeMetals is a new base metals exploration and development company focused on becoming a significant base metal producer through the acquisition of quality exploration, development and potentially production stage base metals projects. The Company's growth strategy is led by a strong Board, key members of which have an extensive proven record of accomplishment in delivering considerable value in the mining sector through the discovery, construction and operation of mines around the world. The Board, its Advisors, and senior management also provide outstanding deal flow of projects to BeMetals based upon their extensive network of contacts in the international minerals business.

The technical information in this news release for BeMetals, has been reviewed and approved by John Wilton, CGeol FGS, CEO and President of BeMetals, and a "Qualified Person" as defined under National Instrument 43-101.

ON BEHALF OF BEMETALS CORP.                             

"John Wilton"                                                                   

John Wilton
President, CEO and Director                                       

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 this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" and "forward looking information" (as defined under This news release contains "forward-looking statements" and "forward looking information" (as defined under applicable securities laws), based on management's best estimates, assumptions and current expectations. Such statements include but are not limited to, statements with respect to future exploration and development of the South Mountain Project and plans for the identification and acquisition of additional base metal projects. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. These statements should not be read as guarantees of future performance or results. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements. Important factors that could cause actual results to differ materially from expectations include, without limitation, the actual results of exploration activities, the availability of financing and/or cash flow to fund the current and future plans and expenditures, the ability of the Company to satisfy the conditions of the option agreements for the South Mountain Project and/or the Pangeni Copper Project, and changes in the world commodity markets or equity markets. Please refer to the Company's most recent filings under its profile at www.sedar.com for further information respecting the risks affecting the Company and its business. The forward-looking statements and forward looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement.  The Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any forward-looking statements or forward looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information.

SOURCE BeMetals Corp.