Chibougamau Intersects Highest Grade Gold To Date in C-3 Zone
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Chibougamau Intersects Highest Grade Gold To Date in C-3 Zone
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, wishes to inform shareholders that we have completed a four hole drill program in the area of
the C -3 copper/gold zone on our 1 00% owned Bateman Bay p roperty, located 8 km east of the Town of
Chibougamau, Quebec in McKenzie Township. Hole BJ -20-29 below is the last hole directed toward testing
the C-3 zone of this drill program.
Hole BJ-20-29 (azimuth 210 degrees, dip at collar -72 degrees) assayed as follows:
From (m) To (m) Length (m) Copper (%) Gold (g/t) Silver (g/t) Cobalt (%)
433.62 434.50 0.88 5.04 13.34 27.6 0.033
434.50 436.00 1.50 2.37 0.74 9.7 0.020
436.00 437.00 1.00 0.93 0.64 3.8 0.012
437.00 437.89 0.89 1.96 0.66 9.1 0.013
433.62 – 437.89 4.27 2.50 3.30 11.9 0.019
And
From (m) To (m) Length (m) Copper (%) Gold (g/t) Silver (g/t) Cobalt (%)
440.83 441.91 1.08 2.49 2.85 11.4 0.019
441.91 443.00 1.09 5.53 16.15 31.3 0.058
443.00 444.27 1.27 2.87 22.05 20.8 0.053
440.83 – 444.27 3.44 3.59 14.15 21.18 0.044
The combined zones, including an intermediate 2.94 m low grade zone, averages 2.40% Cu, 5.98 g/t Au,
13.03 g/t Ag and 0.024% Co over a core length of 10.65m. True widths are thought to be fifty percent of
intersection widths.
Press Release
March 24, 2020
46,695,042 shares issued and outstanding
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Hole BJ-20-29 intersected the north -northwestern side of the C -3 copper/gold zone at a vertical depth of
400 metres and approximately 75 metres north -northwest of hole BJ -19-21 which assayed 3.0 6% Cu, 2.96
g/t Au, 13.04 g/t Ag and 0.023% Co over a core length of 15.68 metres including 4.01% Cu, 4.9 g/t Au, 16.17
g/t Ag and 0.029% Cu over 4.38m and 4.20% Cu, 3.73 g/t Au, 18.63 g/ t Ag and 0.031% Cu over 5.90 m also
in two higher grade zones (see press release dated August 7, 2019).
An additional hole BJ- 19-30 was undertaken to test an induced polarization anomaly north of, and separate
from, the C-3 zone and intersected disseminated to massive sulphides with anomalous values but nothing of
economic interest.
The initial two drill holes of the current program were reported on February 28 th, 2020 in a press release.
Hole BJ -19-27 intersected two mineralized zones returning the following assays: 2.49% Cu, 4.24 g/t Au,
11.1 g/t Ag and 0.014% Co over a core length of 9.25 m and the second zone returning 4.14% Cu, 0.55 g/t
Au, 16.2 g/t Ag and 0.017% Co over a core length of 5.55 m.
Chibougamau Independent is pleased with our drill results to date which have followed the C -3 one down
plunge to a vertical depth of approximately 515 metres. We are currently plan ning our next drill program
which, if undertaken, will most likely be from a barge on Lac aux Dorés.
A north-northwest/south-southeast longitudinal section showing the drill hole pierce points is attached to
this press release and is also available on the Chibougamau Mines website.
Assaying:
The NQ core samples were measured, described and sawed in half and one half of each proscribed, then
delivered to Expert Laboratories located at 750 -A Saguenay Street, Rouyn -Noranda, Quebec for analysis
using standard fire assay methods for precious metals and aqua regia digestion and AA analysis for base -
metals.
This press relea se was written by Jack Stoch, Geo., President and CEO of Chibougamau Independent Mines
Inc. and Pierre Riopel, Geo., Project Supervisor , in their capacity as a Qualified Person s (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
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