Canadian International Minerals Samples Up To 8.93% Cu, 0.18% Co, 0.15% Bi, 59 g/t Ag, 89 g/t In, and 2.25 g/t Au at Tisová Project, Czech Republic
TSX VENTURE: CHEM
November 21, 2016 / TheNewswire / Vancouver, British Columbia - Canadian International Minerals Inc. (the "Company") (TSX-V: CIN) is pleased to announce the results of the September 2016 due diligence and sampling program on the past-producing Tisova mine, located in the prolific Erzgebirge "Ore Mountains" mining district in Central Europe. The main objectives of the program were to confirm the presence of historically-reported mineralization, and to digitize historical data from the government archives.
A total of eight samples containing visible sulphides within phyllite were taken from dumps on the property, under the supervision of Thomas Hasek, P.Eng, a Qualified Person and director of the Company. The samples were prepared and analyzed by ALS Chemex in North Vancouver.
|Sample||Copper (%)||Silver (g/t)||Cobalt (ppm)||Bismuth (ppm)||Indium (g/t)||Gold (g/t)|
The Company is pleased with the results, which are consistent with historical and published reports from previous operators. Absent, however, were significant quantities of PGM's, which had been encountered in previous research. The Company is continuing to compile the extensive amount of data that was acquired during the due diligence program, and will provide an update when the process is completed. Acquisition of the Tisova concession is proceeding under a letter of intent between Canadian International and the two owners of the concession (see news release dated August 3, 2016).
Background on Tisova deposit
Tisova is classified as a Besshi-type Volcanogenic Massive Sulphide (VMS) deposit. Such deposits are often large and, along with copper and cobalt, normally include other recoverable base and precious metals. While historically the deposit was mined primarily for copper, significant concentrations of other base and precious metals have also been identified, though there appears to be no mention of their recovery in any historical documents.
A historic resource was calculated on the unmined portion of the Tisova deposit by the Czechoslovakian government under the Russian classification system as being C1B that was calculated by drilling and underground development (Henley, S., 2004).
This resource was reported as a "preliminary reserves" and was 3,553,000 tonnes of 1.04%, 13.5 g/t Ag, 0.232 g/t Au and 0.019 % Co.
(Koubek, P. a kol. (1989): Zavererecna zprava Tisova Cu-rudy, predbezy pruzkum. RD Pribram)
(the reader is reminded that this represents historic data and is from a source the writer believes to be reliable but does not conform to 43-101 reporting standards and should not be relied upon)
The mineralized bodies at Tisova were concentrated in the three horizons: lower, central and upper. The lower was the most continuous and the central was economically most important. The known length of the lower horizon reaches 1000 m, of which 450 m has been accessed by Helena mine. The mineralized zones are present in forms of irregular layers and lenses of variable size, with typical grades of 0.8 % Cu. The average thickness of lenses at the central horizon ranged 2-6 m, occasionally swelling to 10 m, and exceptionally up to 30 m, with a length of 100-150 m and down dip extent of several hundred meters.
Two stages of drilling exploration took place at Tisova in the 1950's and 1960's, with more than 100 drill holes having been completed by Czechoslovak state mining companies. Drill logs exist, but under the then current technical parameters all core was consumed in assaying. The majority of core was only assayed for copper.
Postwar exploration and development at Tisova prior to the Velvet Revolution (1948-1989) was typically dictated by strategic, political, and military considerations rather than the strictly economic constraints that provide parameters for western style of exploration and development. The geological model was not fully understood and different criteria guided the exploration priorities. An exploration program in the central and southern zone of the deposit was executed between 1971 and 1989, verifying mineralization down to the level of 400 m below surface (level 9 of Helena shaft). Mining was not resumed and the mine was left to flood.
The main ore minerals at Tisova are predominantly chalcopyrite, pyrrhotite, and pyrite, generally accompanied by arsenopyrite, magnetite, sphalerite, bismuth, bismutite, jamesonite, ullmannite, colbaltite, and electrum (Pertold et al 1994).
The technical data in this news release has been reviewed by Thomas Hasek, P. Eng., a Qualified Person under the provisions of National Instrument 43-101.
For further information, please contact:
Canadian International Minerals Inc.
Michael E. Schuss
President and CEO
This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
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.
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