Canada Strategic Metals Begins Drilling Campaign on Sakami and Announces Private Placements
04 Dezember 2013 - 3:00PM
Marketwired
Canada Strategic Metals Begins Drilling Campaign on Sakami and
Announces Private Placements
MONTREAL, QUEBEC--(Marketwired - Dec 4, 2013) - Canada Strategic
Metals Inc. ("Canada Strategic Metals" or "the Company")
(TSX-VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) announces that it
has received its permit to begin a drilling campaign on the Sakami
property. The Company expects to complete by December 31, 2013, ten
(10) diamond drill holes, approximately 1,500 meters in areas 25
and 26 (see table below for historical results), as well as some
induced polarization anomalies.
HISTORIC AREA 26
RESULTS
|
Hole No |
Au (g/t) |
Length (metres) |
From (metres) |
To (metres) |
|
EX-1 |
2.38 |
7.90 |
91.90 |
99.80 |
|
EX-2 |
1.97 |
19.85 |
11.15 |
31.00 |
|
EX-3 |
2.13 |
10.20 |
49.80 |
60.00 |
|
EX-5 |
2.12 |
6.00 |
72.00 |
78.00 |
|
EX-9 |
2.93 |
4.00 |
125.00 |
129.00 |
|
EX-10 including |
2.51 3.52 |
54.65 14.00 |
18.35 43.00 |
73.00 57.00 |
|
EX-13 |
2.96 |
8.25 |
160.50 |
168.75 |
|
EX-17 |
1.74 |
10.65 |
155.65 |
166.30 |
|
EX-18 |
2.04 |
11.52 |
228.05 |
239.57 |
|
EX-22 including |
4.16 6.40 |
21.00 12.67 |
74.25 77.28 |
95.25 89.95 |
|
EX-23 |
3.60 |
7.45 |
186.55 |
194.00 |
|
EX-25 |
2.72 |
17.85 |
133.10 |
150.95 |
|
EX-27 |
1.17 |
8.20 |
162.75 |
170.95 |
|
EX-28 |
2.08 1.98 |
3.26 3.73 |
71.16 148.59 |
74.42 152.32 |
|
EX-29 |
2.09 3.43 |
19.50 1.50 |
190.50 273.50 |
210.00 275.00 |
|
EX-31 including |
2.39 8.03 |
30.19 3.82 |
110.81 132.14 |
140.00 135.96 |
|
EX-32 including |
1.72 2.17 12.23 3.43 |
22.13 12.16 0.50 3.16 |
117.97 127.94 130.64 136.94 |
140.10 140.10 131.14 140.10 |
|
EX-33 |
4.95 3.34 |
2.00 3.45 |
243.25 260.91 |
245.25 264.36 |
|
EX-44 |
1.51 2.18 |
6.09 2.42 |
169.47 232.85 |
175.56 235.27 |
|
EX-45 including |
1.17 1.70 |
5.00 2.00 |
190.50 191.50 |
195.50 193.50 |
|
EX-47 |
1.25 |
12.00 |
258.00 |
270.00 |
HISTORIC AREA 26
RESULTS
|
Hole No |
Au (g/t) |
Length (metres) |
From (metres) |
To (metres) |
|
EX-19 including |
9.22 13.67 |
12.55 7.35 |
53.80 58.25 |
66.35 65.60 |
|
EX-20 |
4.07 |
1.35 |
66.75 |
68.10 |
|
EX-31 |
2.75 |
1.50 |
63.79 |
65.29 |
|
EX-32 |
2.53 3.41 |
1.50 1.50 |
64.29 69.82 |
65.79 71.32 |
|
EX-48 |
1.00 |
9.00 |
49.00 |
58.00 |
|
EX-49 |
2.69 |
3.00 |
64.00 |
67.00 |
Jean-Sébastien Lavallée, President of Canada Strategic Metals,
stated that: "Canada Strategic Metals is very excited to start
drilling program on this promising project that have already report
many gold discovery and impressive gold intersection in drilling in
many zones of the property. "
Jean-Sébastien Lavallée (OGQ #773), geologist, shareholder and
President and Chief Executive Officer of the Company and a
Qualified Person under NI 43-101, has reviewed and approved the
technical content of this release.
Furthermore, the Company announces that it is currently
arranging non-brokered private placements for up of $500,000
consisting in two private placements:
- Private placement of Unit common shares. The Company is
proposing to issue 4,000,000 common shares Units at a cost of $0.05
per Unit. Each Unit includes one common share at a price of $0.05
per share and one-half common share purchase warrants of the
Corporation. Each warrant entitles the holder thereof to purchase
one common share of the Corporation for a period of 12 months at a
price of $0.10 per share.
- Private placement of flow-through. The Company is proposing to
issue 300 flow-through Units at a cost of $1,000 per Unit. Each
Unit includes 12,000 flow-through common shares at a price of
$0.075 per share with 2,000 common shares at a price of $0.05 per
share.
Finders' fees of 6% of the gross proceeds of the offering may be
paid in cash and in non-transferable finder's fees warrants.
The above-mentioned private placements are subject to the
approval of the TSX Venture Exchange.
About Canada Strategic Metals
Canada Strategic Metals is an emerging growth company focused on
the exploration and development of its early stage projects
covering over 60,000 hectares throughout Quebec. With management
experience in green technology and junior resource exploration and
development, Canada Strategic Metals is well positioned to
aggressively advance this promising portfolio for its
shareholders.
For more information on the Company, please visit
www.csmetals.ca.
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.
Jean-Sebastien Lavallee, P. GeoPresident & Chief Executive
Officer819-354-5146Paradox Public Relations514-341-0408
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