Canada Strategic Metals Inc. is pleased to announce the acquisition of three new high-potential properties named Annabelle, Blanche and Charles. The three properties are covering a large greenstone belt districts on the Eastmain and La Grande volcanic belts in the James Bay area.
The ground acquired covers more than 75 continuous kilometres of the volcano-sedimentary contact along with the existing infrastructure, including roads, power lines and airports. The geological settings of both subprovince are hosting several new discoveries and deposits like; Chechoo, Eau Claire, Coulon, La Grande Sud and Eleonore.
"We are very pleased with these new acquisitions, and we will be more active than ever this summer exploring this new ground and giving to this under-explored area additional discovery potential," said Jean-François Meilleur, President and Chief Executive Officer of Canada Strategic Metals.
The area where the three new properties are located already hosts known gold showings, but work has been limited due to the unfavourable economic climate of the past few years. The area is clearly under-explored, with good potential related to the greenstone belt geological settings. The Annabelle property covers the volcano-sedimentary sequences and intrusions of the Opinaca subprovince, while the two properties in the north, Blanche and Charles, cover the volcanic-sedimentary rocks of the La Grande subprovince.
The three newly acquired properties have strong gold potential, with several known showings found on properties about five kilometres south owned by Azimuth/Soquem and Osisko Mining. The Annabelle property, which covers 183 square kilometres, lies approximately 40 km west of Goldcorp Inc.'s Eleonore deposit. Eleonore is a world-class gold deposit with proven reserves of 3.09 million tonnes grading 6.72 g/t Au (670,000 oz Au) and probable reserves of 20.35 million tonnes grading 5.97 g/t Au (3.90 million oz Au), as well as a measured resource of 3.21 million tonnes at 7.27 g/t Au (750,000 oz Au), an indicated resource of 1.92 million tonnes at 2.97 g/t Au (180,000 oz Au) and an inferred resource of 9.73 million tonnes at 7.52 g/t Au (2.35 million oz Au).
The three newly acquired properties consist of a total of 664 claims covering an area of ΓÇïΓÇïapproximately 345 square kilometres. The claims are being processed by the Ministère de l'Énergie et des Ressources naturelles ("MERN"), and will soon be registered and 100% owned by Canada Strategic Metals. The Company's team is currently in the process of compiling all the available data in preparation for the summer exploration season.
Jean-Sebastien Lavallée (OGQ #773), geologist, shareholder, Executive Chairman and Exploration Manager of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.