MONTREAL, QUEBEC -- (Marketwired) -- 12/19/13 --
Canadians Metals Inc. (the "Corporation") (CNSX:CME) is pleased to announce the filing of the NI 43-101 technical report for the Langis project on SEDAR (www.sedar.com). The report was prepared by GENIVAR Inc. in conjunction with Étienne Forbes, P.Geo.
The report indicates that, assuming a density of 2.65, a strike length of 600 to 800 m, a width of 275 to 325 m and a thickness of 30 to 40 m, the potential quantity and grade of silica material on the property is between 15 and 28 million tonnes at 98.1% to 99.20% SiO2. It should be noted that the potential quantity and grade is conceptual in nature pending additional work to advance the project to the economic assessment stage.
The report dated December 6, 2013, was prepared by John D. Charlton, P.Geo., and Mireno Dhe Paganon, Ing., of GENIVAR Inc. in accordance with National Instrument 43-101.
"This characterisation study report on the Langis deposit silica is an important milestone for the Corporation," said Stéphane Leblanc, President and CEO of Canadians Metals. "The results of laboratory testing by CTMP indicate that the Langis deposit is a potential source of silica for ferrosilicon production, as well as for use as a fluxing agent in base metals smelting. The Corporation plans to advance the project on the basis of scale-up pilot testing for ferrosilicon.
Compared to historical results, the characterization represents an improvement in terms of SiO2 content, average grade and tonnage, with strong potential for increasing the tonnage with new zones.
The recommended work program includes the following: Delineation of the indicated mineral resource in the deposit, including geochemical analysis for the remaining six holes and drilling and geochemical analysis of 10 additional holes (NQ-diameter core).
The Canadian Metals team is also in discussions with a number of potential users of silica sand. The Corporation is negotiating clauses relating to long-term sales and risk distribution among potential buyers.
The Corporation is currently testing the silica deposit for ferrosilicon production with potential clients.
John D. Charlton, P.Geo., and Mireno Dhe Paganon, metallurgical engineer, acting as qualified persons under National Instrument 43-101, and Claire Hayek, Mineral Processing Director, have approved the technical content of this press release.
Canadian Metals is a mining exploration and development corporation based in Montreal, Quebec. The Corporation is focused on acquiring, exploring, and developing mining properties. Its flagship project is the Massicotte property located in the Detour Gold Trend, in the province of Québec, Canada. Canadian Metals is also looking for new projects to add to its portfolio. More information can be found on the Corporation's website, at www.canadianmetalsinc.com.
This news release contains forward-looking statements subject to certain risks and uncertainties. There can be no assurance that such statements will prove to be correct, and actual results and future events could therefore differ significantly from those implied by such statements. These risks and uncertainties are discussed in the Corporation's annual report and its filings with securities regulatory authorities.
Neither the CNSX nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Canadian Metals Inc.
President and CEO
Canadian Metals Inc.
Vice President, Business Development
Source: Canadian Metals Inc.