Chibougamau Independent Mines to Drill Bateman Bay and Grandroy Mine Properties
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Chibougamau Independent Mines to Drill Bateman Bay
and Grandroy Mine Properties
ROUYN-NORANDA, QUÉBEC - Chibougamau Independent Mines Inc. (TSX VENTURE: CBG) (STUT:CLL)
(OTC Markets (USA) : CMAUF ) is pleased to inform shareholders that it w ill be drilling again at the C -3
Copper-Gold Zone on the Bateman Bay property and on the Grandroy Copper Gold Mine property , both
in Roy township about 10 km east of the town of Chibougamau.
Chibougamau has been quietly doing ground work over the last two years in order to define targets and
to understand the genesis of a number of the deposits on its properties, particularly on our C-3 Zone on
Bateman Bay, Grandroy and Berrigan properties as well as a number of other exploration assets.
After detailed mapping , structural studies, stripping, assaying and rock geochemistry , Chibougamau
Independent Mines has identified a number of priority targets, several of which will now be drilled. The
first target will be the depth and southeast extension of the C -3 Zone where previous drilling returned
wide intersections of copper, silver and gold mineralization (see previous press releases referencing the
C-3 Zone for details).
The se cond target is on the Grandroy c opper-gold property where our senior geologist interpreted a
potentially new northeast -southwest ore control structure that traverses the deposit which was mined
via an open pit and accessed underground by a ramp from the pi t floor. Two holes will test an area
below the level of previous mining along the newly interpreted control structure.
Of note , Chibougamau was approached by several companies that are interested in acquiring
Chibougamau’s properties or the Company as a whole. None of these lengthy discussions led to an
acceptable proposal, thus our decision to resume testing targets defined by our previous work.
In other news, Vanadium One Energy Corp. (VONE -TSXV) has earned 100% interest in Chibougamau
Independent Mi nes Inc’s Mont Sorcier Iron/Titanium/Vanadium property by meeting the one million
dollar exploration expenditure requirement and paying Chibougamau the cash and shares per the
contract. The large Mont Sorcier Iron/Titanium/Vanadium Zone has very low titanium content in Davis
Tube Magnetic concentrates. This is an important metallurgical advantage when treating and recovering
vanadium from this type of deposit. Vanadium One have also announced that they have engaged CSA
Global to undertake a NI 43 -101 res ource estimate and technical report. Chibougamau Independent
Press Release
February 27, 2019
41,958,442 shares issued and outstanding
Page 2
Mines Inc. retains a Gross Metal Royalty on the Mont Sorcier property and looks forward to the
continued progress of Vanadium One.
This press release was written by Jack Stoch, P. Geo., Presi dent and CEO of Chibougamau Independent
Mines Inc. in his 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.