Chibougamau Independent Mines Extends C-3 Copper-Gold Zone to 515 metres Vertical Depth
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Chibougamau Independent Mines Extends C-3 Copper-Gold Zone to
515 metres Vertical Depth
ROUYN-NORANDA, QUÉBEC - Chibougamau Independent Mines Inc. (CBG-TSX-V in Canada, CLL1 -Frankfurt,
Stuttgart and Lang & Schwarz Stock Exchanges in Germany, CMAUF -OTC in the US), herein called Chibougamau,
is pleased to report the results of the deepest drill hole completed upon the C -3 copper/gold zone located on our
Bateman Bay Mine property in McKenzie Township, Quebec, approximately 8 km east of the Town of
Chibougamau.
Hole BJ-20-27 was drilled to undercut previous Hole BJ-19-18 which at a vertical depth of approximately 450 m
intersected 7.70% Cu, 3.58 g/t Au, 33.25 g/t A g and 0.031% Co over a core length of 9.20 metres (see
Chibougamau press release dated April 22, 2019).
Hole BJ-20-27 intersected the C-3 copper-Gold Zone 65 metres below Hole BJ-19-18 at a vertical depth of 515 m.
Two (2) zones of copper-gold mineralization were intersected as follows:
Hole BJ-20-27
From (m) To (m) Length (m) Copper (%) Gold (g/t) Silver (g/t) Cobalt (%)
582.15 583.46 1.31 7.07 18.99 32.9 0.030
583.46 584.24 0.78 1.45 0.90 11.5 0.006
584.24 585.70 1.46 0.11 0.12 0.8 0.005
585.70 586.25 0.55 1.50 5.76 5.9 0.008
586.25 587.65 1.40 0.57 0.20 2.2 0.007
587.65 588.46 0.81 4.99 2.16 18.8 0.021
588.46 589.50 1.04 1.69 1.06 6.6 0.012
589.50 590.40 0.90 4.36 6.82 18.2 0.022
590.40 591.40 1.00 1.15 1.04 4.3 0.010
582.15 591.40 9.25 2.49 4.24 11.1 0.014
Press Release
February 28, 2020
46,695,042 shares issued and outstanding
Page 2
From (m) To (m) Length (m) Copper (%) Gold (g/t) Silver (g/t) Cobalt (%)
597.00 598.00 1.00 1.31 0.08 4.3 0.011
598.00 599.38 1.38 2.73 0.81 10.6 0.013
599.38 600.48 1.10 3.44 0.52 16.0 0.021
600.48 601.02 0.54 17.50 0.93 66.1 0.042
601.02 602.55 1.53 3.06 0.51 11.5 0.014
597.00 602.55 5.55 4.14 0.55 16.2 0.017
Assays above are core lengths and not true widths which are thought to be 50% of the core length. Assaying was
by Laboratoire Expert Inc. of Rouyn-Noranda, Quebec.
One additional shallow hole, BJ-20-28, was drilled to delimit the sou thern side of the C -3 zone at a vertical depth
of 255 m. The hole did not intersect copper-gold values.
Recent drilling in conjunction with 3D modeling has led us to the conclusion that the C -3 zon e strikes close to
north-south rather than northwest– southeast as all the other orebodies within the main Chibougamau Mining
Camp. This along with the projection of the C- 3 zone under La c aux Dorés makes achieving perpendicular
intersections impossible unless drilled from the lake on stable ice conditions or from a barge in the summer. Poor
ice conditions this year have prevented drilling from the lake and resulted in more oblique intersections than
desired.
Chibougamau Independent Mines is currently d rilling hole BJ-20-29 to probe for the north ern edge of the C -3
zone at a depth of approximately 400 metres, 75 meters north of hole BJ -19-21 which returned 15 .68 metres
grading 3.06% Cu, 2.96 g/t Au, 13.04 g/t Ag and 0.0 23% Co (see Chibougamau press relea se dated A ugust 7,
2019). Next, the drill will test an induced polarization anomaly on land northeast of the C-3 zone.
Laboratory and Assay Methods
Chibougamau Independent Mines’ NQ drill core sampling including the quality assurance/quality control prog ram is
performed internally by Chibougamau Independent Mines personnel under the immediate supervision of Chibougamau
Independent Mines project geologist. Cut half core samples prepared at Chibougamau Independent Mines’ core
sampling facility in Chibougamau, are tagged and sealed in plastic bags and are delivered directly by Chibougamau
Independent Mines personnel to Expert Laboratories Inc, located at 750 -A rue Saguenay, Rouyn-Noranda, Quebec. The
laboratory conducts all aspects of the sample preparation including drying and crushing to a minus 100 mesh screen
size and the processing of a 300 gram sub sample for pulverization to a nominal minus 200 mesh size with the
remaining crushed reject material being retained for storage. For gold assaying, a 29.16 gram sub-sample of the pulp (1
assay-ton) is taken, fused following the standard procedures used in a fire assay method. The gold content of all
samples is determined using atomic Absorption Spectroscopy. Samples containing greater than 1gpt gold are subjected
to a re -assay whereby the gold content is determined using a gravimetric fire assay method. For base metal assaying
(copper, lead, zinc including silver) a 0.5g sample is initially treated by aqua regia digestion with nitric and hydrochloric
acid and subsequently analyzed by a spectrometer of atomic absorption finish. The limit of detection is 0.01% for all
metals except for silver which is 3 ppm.
Analytical accuracy and precision are monitored by the routine insertion of blanks, duplicates and refe rence accredited
low/high grade standards at 20 sample intervals in Chibougamau Independent Mines’ sample stream. This is in
addition to the routine blanks, duplicates (gold, silver, copper and zinc) and accredited standards insertion by Expert
Laboratories during the course of the assaying process.
Page 3
This press release was written by Jack Stoch, P. Geo., President and CEO of Chibougamau Independent Mines Inc.
and Pierre Riopel, Geo., in their capacity as a Qualified Person (Q.P.) under NI 43-101.
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 the release.
We Seek Safe Harbour.
CUSIP Number 167101 203
LEI 529900GYUP9EBEF7U709
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Chibougamau Independent Mines Inc.
86, 14th Street
Rouyn-Noranda, Quebec Canada J9X 2J1
Tel.: 819.797.5242
Fax: 819.797.1470
www.chibougamaumines.com
Forward Looking Statements
Except for historical information this News Release may contain certain “forward looking statements”. These statements may involve a number of known
and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the
Companies expectations and projections. A more detailed discussion of the risks is available under “disclaimer” on the Company’s website.
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400m
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22Surface
Y
Doré Lake
Stripped Area (2017)
422 ppb Au, 31.0 g/t Ag, 3.61% Cu over 3.90m
396 ppb Au, 11.0 g/t Ag, 2.53% Cu over 3.05m
BJ-13-14
1.52% Cu, 0.27 g/t Au, 6.83 g/t Ag over 5.80m
including
7.55% Cu, 0.85 g/t Au, 34.6 Ag over 0.75m
BJ-13-12
1.13% Cu, 0.09 g/t Au, 8.3 g/t Ag over 3.00m
BJ-16-15
3.63% Cu, 0.82 g/t Au, 42.9 g/t Ag, 0.016 % Co over 6.33m
BJ-19-23B
N.S.V
BJ-19-19
N.S.V
BJ-19-20
N.S.V
BJ-19-21
3.06% Cu, 2.96 g/t Au, 13.04 g/t Ag, 0.023% Co over 15.68m
including
4.01% Cu, 4.9 g/t Au, 16.17 g/t Ag, 0.029% Co over 4.38m
and
4.20% Cu, 3.73 g/t Au, 18.63 g/t Ag, 0.031% Co over 5.90m
BJ-13-13
2.84% Cu, 0.35 g/t Au, 43.9 g/t Ag over 14.30m
BJ-19-24
N.S.V
SN
Open
BJ-16-16
3.61% Cu, 1.72 g/t Au, 11.90 g/t Ag, 0.022% Co over 12.50m
BJ-19-18
7.70% Cu, 3.58 g/t Au, 33.25 g/t Ag, 0.031% Co over 9.20m
Open
text
BJ-19-22
3.02% Cu, 0.48 g/t Au, 20.20 g/t Ag, 0.025% Co over 45.4m
including
4.44% Cu, 1.1 g/t Au, 15.57 g/t Ag, 0.047% Co over 6.7m
and
5.64% Cu, 0.82 g/t Au, 61.12 g/t Ag, 0.037% Co over 5.9m
and
3.64% Cu, 0.37 g/t Au, 16.73 g/t Ag, 0.029% Co over 10.5m
BJ-19-25
N.S.V
wide intense alteration zone
BJ-19-17
4.33% Cu, 3.69 g/t Au, 19.62 g/t Ag, 0.020% Co over 22.0m
including
3.46% Cu, 2.75 g/t Au, 10.81 g/t Ag, 0.023% Co over 12.47m
and
8.49% Cu, 7.55 g/t Au, 49.22 g/t Ag, 0.022% Co over 5.90m
1.66% Cu, 2.01 g/t Au, 5.70 g/t Ag, 0.02% Co over 11.0m
BJ-19-26A
N.S.V
Open
BJ-20-27
2.49% Cu, 4.24 g/t Au, 11.06 g/t Ag, 0.014% Co over 9.25m
and
4.14% Cu, 0.55 g/t Au, 16.18 g/t Ag, 0.017% Co over 5.55m
over core length
Cu (%)
Pending assays
N.S.V
3 - 7%
7 - 10%
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1 - 3%!
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Open
Longitudinal Section looking N 83°
C-3 Zone, Chibougamau Area (32G/16)
Intersections are core lengths
BJ-20-29
Pending assays
BJ-20-28
N.S.V