Rouyn-Noranda, Quebec, Canada. Chibougamau Independent Mines Inc. ("Chibougamau Mines") (CBG-TSXV, CLL-Stuttgart) is pleased to announce to its shareholders the results of the assays from two drill holes, which are a cross-section of the company's Mont Sorcier iron-titanium-vanadium project North and South 17 km east of the city Chibougamau was created.
Mont Sorcier North
Hole MS-13-17 was drilled to the north over a length of 602 meters and in the fall angle of 45 °. The overburden was 2,6 meters thick. From the beginning of the borehole to a depth of 328,4 meters (1.077,4 feet), magnetite-bearing rock was intersected. The drilling was continued to intersect the pyrite and pyrrhotite horizons, where sulfur is converted to sulfide and where sporadic copper and gold mineralized sections are found. The magnetite body was intersected using a sulfur cutoff value of -1% and -2% as follows:
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*Calculated
The magnetite content was determined in the Actlabs laboratory in Ancaster (Ontario) by means of Satmagan analysis and represents the proportion of magnetite in percent by weight. The oxides were examined using X-ray fluorescence analysis. Details of the analysis methods used are available on our website under the section "Technology", "Technical information"," Analysis methods "(Actlabs) available.
Campbell Chibougamau Mines Limited conducted a cross-sectional drilling and metallurgy test at the Mont Sorcier North Iron Project. The largest active mining company in the area has reported in its report an open-pit resource volume of 171.571.000 tonnes with a maximum of 30,0% Fe and 1,06% Ti02, which correlates well with the analysis from our last well. The historical final report has been published on the E-Sigeom (Examine) website of the Government of Quebec under the heading GM31867. Further investigations using the Davis Tube tester conducted by the Quebec Government Mines Laboratory in 1975 show an average content of 66,2% Fe, 1,32% Ti02 and 0,57% V205 in the concentrate and a P205 of below 0,001%.
Mont Sorcier South
Chibougamau Mines has recently acquired a number of concessions spanning much of the nearby South Iron Zone. These areas are also owned by Campbell Chibougamau Mines Ltd. drilled and demarcated and are described in the above-mentioned report. According to the announcement, historical non-NI 43 101 compliant resources equal to 102.800.000 tonnes grading 27,4% Fe and 1,05% Ti02 were identified. Subsequent analysis with the Davis Tube tester yielded concentrates with ore contents of 67,8% Fe, 0,95% Ti02, and 0,68% V205.
Globex has recently intersected the south iron zone south of the 13 ° fall angle on a core 19 m as part of the MS-45-102 hole. The result was as follows:
To view the full press release please follow the link:
http://www.irw-press.com/dokumente/CBG_031213_DE.pdf
*Calculated
The sulfur content was negligible over the entire core length.
The analysis results correlate well with the values intersected by previous drilling in the Company's concessions.
According to forecast by Campbell Chibougamau Mines Ltd. could store 95,2 million tonnes of concentrate in the northern and southern zones of the area defined by previous drilling. The zones are open in depth.
Chibougamau Mines has not performed sufficient work to confirm ore grading and / or metallurgical investigations by Campbell Chibougamau Mines Ltd and the aforementioned Quebec Government Laboratory as the core and sample material no longer exists. The resources and metallurgical studies are considered historical and not compatible with the NI 43-101 rule and are therefore not considered reliable.
The TSX Venture Exchange and its regulators (referred to in the Articles of Incorporation of the TSX Venture Exchange as Regulation Services Providers) accept no responsibility for the adequacy or accuracy of the announcement.
Jack Stoch, P.Geo., President and CEO of Chibougamau Independent Mines Inc., has prepared this press release. Claude Larouche, B.Sc. Eng., M.Sc., Geol., Ing and Michel Leblanc, P. Geo. have reviewed and approved the contents of this news release as Qualified Persons.
We strive for the safe harbor certificate.
Securities Code: 167101 10 4
For further information please contact:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Chibougamau Independent Mines Inc.
86, 14th Street
Rouyn-Noranda, Quebec, Canada J9X 2J1 Tel .: 819.797.5242
Fax: +819.797.1470
[email protected]
www.chibougamaumines.com
Forward-looking statements
Apart from historical information, this press release may also contain "forward-looking statements." These statements may involve a number of known and unknown risks and uncertainties, as well as other factors that may cause actual results, activities and performance to differ materially from those anticipated and planned by the Company. A more detailed description of the risks can be found in the disclaimer on the Company's website.
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Source: IRW-Press.com.
