(TheNewswire)
May 31, 2022 – TheNewswire - CALGARY, ALBERTA – CMX Gold & Silver Corp. ( CSE:CXC ) ; (CNSX:CXC.CN); ( OTC:CXXMF ) (“CMX” orthe “Company”) announces that it has signed an agreement withSulphide Remediation Inc. (“SRI”) ( https://www.sulphide-remediation.com/ ), an affiliate of ABH Engineering Inc. of Surrey, B.C., afirm specializing in mineral processing ( https://www.abhengineeringinc.com/ ). SRI utilizes precision ore sorting technology tohigh-grade mine stockpiles of unprocessed rock to enhance the grade ofmaterial delivered to a toll mill. Dual Energy X-Ray Transmissiontechnologies differentiate between rocks based on small fluctuationsin density profiles and are effective at removing sulphides andconcentrating valuable metals. The sorted rock can be treated atexisting mills/smelters where valuable metals will be extracted andsulphides will be safely handled.? SRI has some of the world'sleading experts in crushing, screening and ore sorting.
Pursuant to the agreement with CMX, SRI will takesamples from the Clayton stockpile with no upfront cost to CMX. Thesamples will be shipped to a laboratory for analysis and processtesting. The testing program will inform SRI as to the best oresorting process for the Company’s stockpile. Jan Alston, President& CEO of CMX commented: “Ever since we completed an evaluationprogram of the Clayton Silver Mine stockpile in 2014/15, the resultssuggested there should be significant value realized from processingthe material. Higher metals prices today add even more value to theaboveground material. We simply needed to find the right partner withthe best technology for this opportunity.”
CMX’s historic Clayton Silver Mine stockpile isestimated to contain greater than 500,000 tonnes of metal-bearingrock. In the 2014 evaluation program, over3,000 kilograms of sample material were collected from test locationsselected to ensure representative results. Analysis of the samplesconfirmed the presence of gold in each sample. In particular, assaysconfirmed gold values up to 2.84 gm/t with an average of 0.80 gm/t forthe 16 locations comprised of the initial suite of samples.Statistical averages of the 16 locations of the mine stockpilesampling program were: gold – 0.80 gms/t; silver – 24.31 gms/t;lead – 0.44%; zinc – 0.27%.
Subject to positive results from analysis of thesamples taken from the stockpile and confirmation of suitability ofthe material for the ore sorting process, SRI at its cost willconstruct and deliver an optimal ore sorting system to the ClaytonMine site. The system will be capable of processing from 3,000tonnes to 4,000 tonnes per day. SRI will manage all aspects of thestockpile processing program. After deducting operating expensesfrom the revenue received for the processed stockpile material fromthe toll mill or smelter, the net profits will be shared 50:50 betweenCMX and SRI. Mr. Alston stated: “Positive results will positionCMX to generate cash flow in 2023.”
About the ClaytonSilver Project
CMX's 100%-owned Clayton Silver Property is located inthe mining-friendly State of Idaho, USA. The property comprisesapproximately 684 acres in Custer County in south-central Idaho,including the former Clayton silver-lead-zinc mine. The Clayton Minewas developed on eight levels to a depth of 1,100 feet below surfaceand is comprised of approximately 19,690 feet of undergrounddevelopment. Two major ore bodies were partially mined: the “SouthOre Body” and the “North Ore Body”.
The recorded production from the Clayton Mine included7,031,110 oz silver, 86,771,527 lbs lead, 28,172,211 lbs zinc,1,664,177 lbs copper, and minor amounts of gold from an estimated2,145,652 tonnes of ore mined between 1934 and 1985. Very littleexploration has been carried out previously on the Clayton SilverProperty. Significant potential is demonstrated in hole 1501-A,drilled in the mid-1960’s, which penetrated the mineralized zone at1,425 feet. At that depth, the hole intercepted 22 feet of 4.07 ozAg/t, 5.75% lead and 5.37% zinc (note: true width is unknown).
The CSE has notreviewed and does not accept responsibility for the adequacy oraccuracy of this news release.
For furtherinformation contact:
Jan M. Alston, President & C.E.O. at (403) 457-2697 janalston@cmxgoldandsilver.com ;
Robert d’Artois at (604) 329-0845 bobdartois@cmxgoldandsilver.com .
You can also visit the Company’s Website : www.cmxgoldandsilver.com
WARNING : theCompany relies upon litigation protection for "forwardlooking" statements. The information in this release may containforward-looking information under applicable securities laws. Thisforward-looking information is subject to known and unknown risks,uncertainties and other factors that may cause actual results todiffer materially from those implied by the forward-lookinginformation. Factors that may cause actual results to vary materiallyinclude, but are not limited to, inaccurate assumptions concerning theoperations of the Company, changes to securitiesregulation requirements, other changes in laws or regulations,unanticipated risks of the COVID-19 pandemic crisis, changes ingeneral economic conditions or conditions in the financial markets andthe inability to raise additional financing. Readers are cautioned notto place undue reliance on this forward-looking information. TheCompany does not assume the obligation to revise or update thisforward-looking information after the date of this release or torevise such information to reflect the occurrence of futureunanticipated events, except as may be required under applicablesecurities laws.
Copyright (c) 2022 TheNewswire - All rights reserved.