TSXV – BMET
VANCOUVER, Sept. 5, 2018 /CNW/ - BeMetals Corp.
("BeMetals" or the "Company") (TSXV:BMET) is pleased
to announce that it has commenced field activities at the Pangeni
Copper Project in Zambia. In
addition, Dr Richard Sillitoe, one
of the world's foremost experts on base metal and other deposits,
has joined the BeMetals team as a strategic and technical advisor.
Dr Sillitoe will provide valuable insight and recommendations
regarding identification and evaluation of quality projects,
thereby complementing the Company's growth plan.
PANGENI COPPER EXPLORATION PROJECT
The Company, through its strong technical and local Optionors on
this project, Copper Cross Zambia Limited ("CCZ") and Pangeni
Mineral Resources Limited, has commenced field camp establishment
and air-core drill track access as anticipated for the next phase
of exploration work at the property. A contract for the air-core
drilling has been finalized and the drilling equipment will be
mobilized to site within the next two weeks parallel with
completion of drill track access. During August 2018 detailed target definition and
logistical planning, in-line with the supported conclusions of the
recently completed Independent Technical Report for the project,
were finalised.
This phase of exploration work includes the drilling of air-core
boreholes (approximately 40-50m deep)
to test for potential, geochemical anomalies, associated with
mineralised extensions to the Central and Southwest Targets, under
surrounding Kalahari Group cover units. The property is at an early
exploration stage with only five core boreholes having been
completed to date (three boreholes at the Central Target and two at
the Southwest Target). All five holes intersected hypogene copper
mineralisation. The most significant intersections included
borehole CT1: 6.1m @ 0.34%TCu
(from 39m depth) and borehole
SW1: 5.5m @ 0.48%TCu (from
142.5m depth). At the Central
Target the drilling results indicate there is associated anomalous
cobalt with the copper intersections, CT1 returning: 6.1m @ 320ppm Co (for the same copper
intersection as quoted above). These boreholes results provide
encouraging proof of concept for the geological models generated
for the property, and support the strategy for further
exploration.
In addition initial priority targets, identified during previous
exploration programs, are to be tested. This orientation air-core
program will be completed to also assess the applicability of this
drilling technique in this specific area. Based upon the assessment
of the applicability of this drilling method in the project area,
and results from the air-core geochemical sampling further
exploration will be motivated as appropriate.
The Pangeni Copper Project is located on the western extension
of the Zambian Copperbelt, within the Lufilian Arc, underlain by
Katangan Supergroup metasediments which are covered by a thin
veneer of Kalahari sands. The Sentinel, open pit, Copper Mine
is operated by First Quantum Minerals some 130 kilometres to the
northeast of the Pangeni Copper Project. A number of major
international mining companies have identified this region of the
Zambian Copperbelt to be prospective for the discovery of tier one
copper mines and are conducting exploration field work in this
region.
STRATEGIC AND TECHNICAL
ADVISOR
Dr Richard Sillitoe has served as
an independent economic geological consultant for numerous
international mining companies in Europe, the Americas, Africa, Australasia, Southeast Asia and the western Pacific region
for the past 45 years, during which time he has made major
contributions to the discovery of a variety of copper and other
deposits. He is the author of 130 economic geology articles as well
as three books documenting circum-Pacific discoveries.
Richard graduated from the University of London, England, where he went on to obtain a
PhD degree in 1968. After working for the Instituto de
Investigaciones Geológicas (Geological Survey of Chile) and then returning to the Royal School
of Mines at the University of London as a Shell postdoctoral research
fellow, he began his consulting career with mining companies,
international agencies and foreign governments.
He has a breadth of experience, including work on precious, base
and lithophile-metal deposits and prospects in 100 countries
worldwide, but focuses primarily on the epithermal gold and
porphyry copper environments. His specialty is deposit modelling
using field observations and drill core. Published research has
earned him awards in Europe,
Australia and North and
South America, including the
R.A.F. Penrose Gold Medal of the
Society of Economic Geologists, of which he was President in
1999–2000.
"We are delighted that Dr Sillitoe has agreed to be a part of
our team. His wide-ranging international technical expertise and
premier reputation will be highly valuable as we pursue our growth
strategy and goal of becoming a significant base metal producer"
said John Wilton, CEO and Director
of BeMetals.
ABOUT BEMETALS CORP.
BeMetals is driving its growth strategy towards the goal of
becoming a significant base metal producer through the acquisition
of quality exploration, development and production stage base
metals projects. This strategy is directed by the Board, key
members of which have an extensive, proven track record in
delivering considerable value in the mining sector through the
discovery and building of mines.
ON BEHALF OF BEMETALS CORP.
"John Wilton"
John Wilton
CEO, President 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.
Technical information in this news release
has been reviewed and approved by John
Wilton, Pr. Sci. Nat., the Company's CEO and President and a
"Qualified Person" as defined by National Instrument 43-101
standards.
Cautionary Note Regarding Forward-Looking
Statements
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 the plans for future
exploration and development of the Pangeni Copper Project and the
acquisition of additional base metal projects. Generally,
these forward-looking statements can be identified by the use of
forward-looking terminology such as "expects", "expected",
"budgeted", "forecasts" , "anticipates" "plans", "anticipates",
"believes", "intends", "estimates", "projects", "aims",
"potential", "goal", "objective", "prospective", and similar
expressions, or that events or conditions "will", "would", "may",
"can", "could" or "should" occur. These statements should not
be read as guarantees of future performance or results. 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, including but not limited to: risks related to the
Pangeni Copper Project; risks related to international operations;
risks related to general economic conditions, actual results of
current exploration activities, unanticipated reclamation expenses;
changes in project parameters as plans continue to be refined;
fluctuations in prices of metals including copper and other base
metals; fluctuations in foreign currency exchange rates, increases
in market prices of mining consumables, possible variations in
resource estimates, grade or recovery rates; failure of plant,
equipment or processes to operate as anticipated; accidents, labour
disputes, title disputes, claims and limitations on insurance
coverage and other risks of the mining industry; delays in the
completion of exploration, development or construction activities,
changes in national and local government regulation of mining
operations, tax rules and regulations, and political and economic
developments in countries in which the Company operates. 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. 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. 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. 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.
SOURCE BeMetals Corp.