Canada Strategic Metals (TSX:V.CJC, Stock Forum) celebrated today as it reported results from holes PT-14-76 to PT-14-80, drilled in March and April during the last exploration campaign on the Sakami gold property.
According to the news release, the new results confirm the extension of the Zone 25 gold mineralization envelope to the west, northwest and at depth. They also confirm that the contact corridor between the Opinaca-La Grande volcano-sedimentary sub-provinces is fertile for considerably-enriched gold mineralization.
The program was focused on increasing the size of the main gold zone, located in the La Pointe sector of the Sakami property and tested a strike length at Zone 25 of over 200 metres to a depth of over 425 metres over its plunge.
Highlights from the results included, 2.51 g/t gold over 48.20 metres, including 6.93 g/t gold over 12.00 metres, 11.35 g/t gold over 6.00 metres and 3.06 g/t gold over 7.50 metres at PT-14-79.
Company president and CEO, Jean-Sebastien Lavallee, commented on the results, “Our company is very pleased to confirm the potential for high grade gold zone at the Sakami project, as well as the extension of the main zone, Zone 25, at depth and along strike.”
He went on to conclude, “It is also encouraging to see the presence of multiple parallel, highly-anomalous gold zones confirmed. The positive drill results from the last exploration program once again confirm the Sakami project's gold potential. We are looking forward to receiving the results for the last three holes, drilled 50 metres south and 50 and 100 metres west-northwest of Hole PT-14-79, along its plunge.”
Canada Strategic Metals was in the news recently when the company reported new gold-bearing intersections at Sakami at the end of May.
Shares gained 6.25% on the news to $0.085 per share.
Currently there are 65.7m outstanding shares with a market cap of $5.6 million.
FULL DISCLOSURE: Canada Strategic Metals is a Stockhouse Publishing client.