BeMetals Receives Further High-Grade Zinc and Precious Metal Drill Results from Borehole SM19-002 at Polymetallic South Mountain Project in Idaho
BeMetals Corp.
Suite 3123 · Three Bentall Centre · 595 Burrard Street · P.O. Box 49139 · Vancouver · BC · V7X 1J1 · Canada
Tel: + 1 604 609 6141
TSXV – BMET
September 24, 2019 OTCQB – BMTLF
BeMetals Receives Further High-Grade Zinc and Precious Metal Drill Results from Borehole SM19-002
at Polymetallic South Mountain Project in Idaho
VANCOUVER, CANADA - BeMetals Corp. (“BeMetals” or the “Company”) (TSXV: BMET) (OTCQB: BMTLF)
is pleased to announce further analytical drill results from its underground drill program at the Company’s
high-grade South Mountain Zinc -Silver Project (“South Mountain ” or the “Project” ) in southwestern
Idaho, U.S.A . These recently received results represent the remaining two zones of high -grade
mineralization from borehole SM19-002. The drilling program is ongoing with further mineralized zones
from other boreholes under geological logging, sampling and laboratory analysis. Further borehole results
are expected to be released in batches as they become available.
DRILLING HIGHLIGHTS:
• Borehole SM19-002: Zone 3 intersected 10.56 metres grading 11.42% Zinc (“Zn”), 123 grams per
tonne (“g/t”) Silver (“Ag”), 4.43 g/t Gold (“Au”), 0.36% Lead (“Pb”), and 0.52% Copper (“Cu”)
• Borehole SM19-002: Zone 2 intersected 3.78 metres grading 5.45% Zn, 145 g/t Ag, 8.39 g/t Au,
0.58% Pb, and 0.15% Cu
• Borehole SM19-002: Zone 1 (Previously reported) intersected 10.51 metres grading 17.81% Zn,
226 g/t Ag, 2.41 g/t Au, 1.59% Pb, and 0.16% Cu
Note: ALS Global completed the analytical work with the core samples processed at their p reparation facility in Reno, Nevada,
U.S.A. All analytical and assay procedures are conducted in the ALS laboratory in North Vancouver, BC. Reported widths are drilled
core lengths as true widths are unknown at this time.
John Wilton, President, CEO and Director of BeMetals stated, “These additional results from zones 2 and
3 were pending at the time of the release of the zone 1 data from borehole SM19-002. They again confirm
the high-grades associated with the polymetallic South Mountain deposit and emphasize the significant
precious metal component to the mineralization. This hole has three significant zones of massive sulphide
mineralization. Interestingly zones 2 and 3 returned even higher tenor gold grades, of 8.39 g/t over 3.78m
and 4.43 g/t over 10.56m respectively, than zone 1.
Additionally zone 3 includes 0.52% copper over the same 10.56m interval as the high -grade zinc and
precious metal mineralization. The copper appears dominantly present in the form of chalcopyrite. As the
phase 1 drilling program continues our understanding of the potential mineral zonation will improve
which could provide important vectors to the highest tenor zones within the deposit, and the targeting of
further new zones of sulphides.
- 2 -
We are pleased by the efforts of o ur Project team based in Jordan Valley and Boise which have been
providing effective delivery of the underground drilling program and efficient processing of the geological
information.”
PHASE 1 DRILLING AT SOUTH MOUNTAIN PROJECT
The main objective of the ongoing drill program at South Mountain is to test potential extensions to the
mineralized zones and confirm the grade distribution of the current polymetallic mineral resource
estimate. To date, the Company has completed eight underground boreholes for a total of approximately
684 metres of this 2,500-metre program. Table 1 below shows the full results available from SM19-002
and Table 2 provides the drill hole co-ordinates, azimuth and dip. The six remaining pending samples are
related to the contact zone of the mineralization and not expected to contain significant metal values but
their geochemistry could provide useful pathfinder data.
Borehole SM19-002 intersected significant zones of skarn mineral assemblages , including pyroxene and
garnet, and the massive sulphide mineralization. The massive sulphide mineralization is hosted
dominantly within the marble but is also developed at the contact with the skarn assemblage (See location
figures 1 and 2) . Importantly, the high-grade massive sulphide bod ies at South Mountain, comprise the
mineral resource at the Project and these occur as structurally controlled pipe -like bodies which plunge
40-50 degrees southwest within the host Laxey marble unit. The potential to expand and identify more of
these high-grade massive sulfide zones remains open at depth and along strike.
Table 1. SM19-002 Drill Hole: Analytical and Assay Results
SM19-002: ZONE 3
Sample ID From
(m)
To
(m)
Interval
(m) Zn % Ag ppm
(g/t)
Au ppm
(g/t) Pb % Cu %
559298 85.83 86.38 0.55 3.01 135.0 0.19 0.06 1.41
559299 86.38 86.69 0.30 4.90 428.0 0.40 5.63 4.18
559300 86.69 87.42 0.73 6.89 316.0 0.54 0.14 2.60
559301 87.42 88.04 0.62 0.05 10.7 0.03 0.01 0.01
559302 88.04 90.14 2.10 1.44 190.0 5.55 0.11 0.15
559303 90.14 91.82 1.68 0.03 59.3 2.78 0.03 0.01
559304 91.82 92.48 0.66 3.82 36.4 1.26 0.21 0.06
559305 92.48 94.00 1.52 30.00* 117.0 12.00 0.62 0.39
559307 94.00 95.10 1.10 30.00* 43.8 3.51 0.20 0.16
559308 95.10 95.59 0.49 18.75 77.9 5.70 0.22 0.38
559309 95.59 96.10 0.52 23.80 82.5 4.54 0.33 0.25
559311 96.10 96.39 0.29 23.30 74.9 5.76 0.35 0.24
Zone 3
Composite 85.83 96.39 10.56 11.42 123 4.43 0.36 0.52
- 3 -
SM19-002: ZONE 2
Sample ID From
(m)
To
(m)
Interval
(m) Zn % Ag ppm
(g/t)
Au ppm
(g/t) Pb % Cu %
559294 67.85 69.80 1.95 1.89 69.4 0.95 0.30 0.05
559295 69.80 70.62 0.82 17.75 428.0 19.65 1.83 0.42
559296 70.62 71.63 1.01 2.28 61.8 13.60 0.10 0.12
Zone 2
Composite 67.85 71.63 3.78 5.45 145 8.39 0.58 0.15
SM19-002: ZONE 1
Sample ID From
(m)
To
(m)
Interval
(m) Zn % Ag ppm
(g/t)
Au ppm
(g/t) Pb % Cu %
559273 39.44 43.28 3.84
Results Pending (Contact zone to mineralization) 559274 43.28 44.10 0.82
559275 44.10 46.88 2.77
559277 46.88 48.16 1.28 21.20 1055 4.80 6.49 0.22
559278 48.16 48.49 0.34 0.91 4 0.03 0.06 0.00
559279 48.49 50.14 1.65 18.25 98 1.42 0.51 0.17
559281 50.14 51.11 0.98 0.62 5.6 0.49 0.03 0.01
559282 51.11 51.66 0.55 2.80 91.8 0.77 0.73 0.14
559283 51.66 52.15 0.49 30.00* 112 2.23 2.50 0.10
559284 52.15 53.61 1.46 27.60 123 2.85 1.50 0.23
559286 53.61 54.38 0.76 30.00* 165 2.60 1.64 0.26
559287 54.38 56.11 1.74 18.40 155 1.70 0.81 0.26
559288 56.11 56.54 0.43 12.25 216 2.45 1.65 0.16
559289 56.54 57.39 0.85 14.65 97.9 5.57 0.42 0.15
Zone 1
Composite 46.88 57.39 10.51 17.81 226 2.41 1.59 0.16
559290 57.39 60.05 2.65
Results Pending (Contact zone to mineralization) 559291 60.05 61.57 1.52
559292 62.21 63.61 1.40
Note: *Zinc grade determined at 30% as upper detection limit of Zn- OG62 procedure for high- grade zinc material.
Reported widths are drilled core lengths a s true widths are unknown at this time. (Note: See details below in
QA/QC section).
- 4 -
Figure 1: Plan View of the Sonneman & Laxey Levels, South Mountain Deposit, showing locations of rib-
sampling, priority target zones, planned boreholes, and boreholes SM19-001 & SM19-002
- 5 -
Figure 2: Long Section, looking northeast, showing locations of rib -sampling, priority target zones ,
planned boreholes, and boreholes SM19-001 & SM19-002
Table 2: Drill Hole Azimuth, Dip and Collar Co-ordinates
Hole ID Azimuth
Degree
Dip
Degree
Eoh Length
(m)
East (ft) North (ft) Elevation
(ft)
SM19-002 138 -28 102.41 231,176 394,120 6,868
QUALITY ASSURANCE AND QUALITY CONTROL PROCEDURES
The project employs a rigorous QC/QA program that includes; blanks, duplicates and appropriate certified
standard reference material. All samples are introduced into the sample stream prior to sample
handling/crushing to monitor analytical accuracy and precision . The i nsertion rate for the combined
QA/QC samples is 10 percent or more depending upon batch sizes . ALS Global completed the analytical
work with the core samples processed at their preparation facility in Reno, Nevada, U.S.A. All analytical
and assay procedures are conducted in the ALS facility in North Vancouver, BC. The samples are processed
by the following methods as appropriate to determine the grades; Au -AA23-Au 30g fire assay with AA
finish, ME-ICP61-33 element four acid digest with ICP-AES finish, ME-OG62-ore grade elements, four acid
with ICP-AES finish, Pb-OG62-ore grade Pb, four acid with ICP-AES finish, Zn-OG62-ore grade Zn, four acid
digest with ICP-AES finish, Ag-GRA21-Ag 30g fire assay with gravimetric finish.
The technical information in this news release for BeMetals, has been reviewed and approved by John
Wilton, CGeol FGS, CEO and President of BeMetals, and a “Qualified Person” as defined under N ational
Instrument 43-101.
- 6 -
THE SOUTH MOUNTAIN PROJECT
South Mountain is a polymetallic development project focused on high -grade zinc and is located
approximately 70 miles southwest of Boise, Idaho ( see Figure 3 ). The Project was intermittently mined
from the late 1800s to the late 1960’s and its existing underground workings remain intact and well
maintained. Historic production at the Project has largely come from skarn-hosted and high-grade massive
sulphide bo dies that remain open at depth and along strike. According to historical smelter records,
approximately 53,642 tons of ore have been mined to date. These records also indicate average grades;
14.5% Zn, 363.42 g/t Ag, 1.98 g/t Au, 2.4% Pb, and 1.4% Cu were realised.
The Project is largely on and surrounded by private surface land, and as such, the permitting and
environmental aspects of the Project are expected to be straightforward. Permits are in place for
underground exploration activities and BeMetals does not anticipate significant barriers to any future
development at the Project.
Figure 3: Project Location Map
- 7 -
Table 3. NI 43-101 Mineral Resource Statement for the South Mountain Project - April 1, 2019
Mineral Resources at 6.04% ZnEq Cut-off
Classification
Zinc Equivalent Resource Contained Metal
Short
Tons ZnEq lbs ZnEq
%
Zn lbs Zn% Ag oz Ag opt
(g/t)
Au oz Au opt
(g/t)
Pb lbs Pb % Cu lbs Cu %
x1000 x1000 x1000 x1000 x1000 x1000 x1000
Measured 63.2 22,200 17.57 14,700 11.64 237 3.745
(116 g/t) 4.0 0.063
(1.96 g/t) 600 0.483 700 0.566
Indicated 106.7 37,800 17.72 21,500 10.08 576 5.398
(168 g/t) 7.0 0.066
(2.05 g/t) 2,100 0.983 1,600 0.766
Measured +
Indicated 169.9 60,000 17.66 36,200 10.66 813 4.783
(149 g/t) 11.0 0.065
(2.09 g/t) 2,700 0.797 2,300 0.692
Inferred 363.2 120,800 16.63 70,500 9.70 2,029 5.585
(174 g/t) 16.3 0.045
(1.49 g/t) 8,700 1.202 5,200 0.696
1. The effective date of the mineral resource estimate is April 1, 2019. The QP for the estimate is Mr. Randall
K. Martin of Hard Rock Consulting, LLC, is independent of BeMetals Corp.
2. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred
mineral resources that are part of the mineral resource for which quantity and grade or quality are
estimated on the basis of limited geologic evidence and sampling, which is sufficient to imply but not
verify grade or quality and continuity. Inferred mineral resources may not be converted to mineral
reserves. It is reasonably expected, though not guaranteed, that the majority of Inferred mineral
resources could be upgraded to Indicated mineral resources with continued exploration.
3. The mineral resource is reported at an underground mining cutoff of 6.04% Zinc Equivalent (“ZnEq”)
within coherent wireframe models. The ZnEq calculation and cutoff is based on the following
assumptions: an Au price of US$1,231/oz, Ag price of US$16.62/oz, Pb price of US$0.93/lb., Zn price of
US$1.10/lb. and Cu price of $2.54/lb.; metallurgical recoveries of 75% for Au, 70% for Ag, 87% for Pb, 96%
for Zn and 56% for Cu, assumed mining cost of US$70/ton, process costs of US$25/ton, general and
administrative costs of US$7.50/ton, smelting and refining costs of US$25/ton. Based on the stated prices
and recoveries the ZnEq formula is calculated as follows; ZnEq = (Au grade * 43.71) + (Ag grade * 0.55) +
(Pb grade * 0.77) + (Cu grade * 1.35) + (Zn grade).
4. Rounding may result in apparent differences when summing tons, grade and contained metal content.
Tonnage and grade measurements are in imperial units.
ABOUT BEMETALS CORP.
BeMetals' f ounding Directors include Clive Johnson, Roger Richer, Tom Garagan and John Wilton.
BeMetals is a new base metals exploration and development company focused on becoming a significant
base metal producer through the acquisition of quality exploration, development and potentially
production stage projects. The Company is advancing both its early stage, tier one targeted, Pangeni
Copper Exploration Project in Zambia, and its advanced high-grade, zinc-silver polymetallic underground
exploration at the South Mountain Project in Idaho, USA. The Company’s growth strategy is led by our
strong Board, key members of which have an extensive proven record of delivering considerable value in
the mining sector through the discovery, construction and operation of mines around the world. The
Board, its Advisors, and senior management also provide outstanding deal flow of projec t opportunities
to BeMetals based upon their extensive network of contacts in the international minerals business.
ON BEHALF OF BEMETALS CORP.
"John Wilton"
John Wilton
President, CEO and Director
- 8 -
For further information about BeMetals please visit our website at www.bemetalscorp.com and sign-up
to our email list to receive timely updates, or contact:
Derek Iwanaka
Vice President, Investor Relations & Corporate Development
Telephone: 604-609-6141
Email: [email protected]
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 this release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward- looking statements" and “forward looking information” (as defined under
applicable securities laws), based on management’s best estimates, assumptions and current expectations. Such
statements include but are not limited to, statements with respect to the plans for future exploration and
development of the South Mountain and P angeni projects, and the acquisition of additional base metal projects.
Generally, these forward- looking statements can be identified by the use of forward -looking terminology such as
"expects", "expected", "budgeted", "forecasts" , "anticipates" "plans", "anticipates", "believes", "intends",
"estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events
or conditions "will", "would", "may", "can", "could" or "should" occur. These statements shoul d not be read as
guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and
other factors that may cause actual results, performance or achievements to be materially different from those
expressed or implied by such statements, including but not limited to: the actual results of exploration activities, the
availability of financing and/or cash flow to fund the current and future plans and expenditures, the ability of the
Company to satisfy the conditions of the option agreements for the South Mountain Project and/or the Pangeni
Project, and changes in the world commodity markets or equity markets. Although the Company has attempted to
identify important factors that could cause actual results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. The forward -looking statements and forward looking
information are made as of the date hereof and are qualified in their entirety by this cautionary statement. The
Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any
revisions to any forward-looking statements or forward looking information contained herein to reflect future results,
events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-
looking statements and information. Please refer to the Company’s most recent filings under its profile at
www.sedar.com for further information respecting the risks affecting the C ompany and its business.