Vancouver, British Columbia--(Newsfile Corp. - April 9, 2020) - M3 Metals Corp. (TSXV: MT) (FSE: X0VP) ("M3 Metals" or the "Company") is pleased to provide an update on its ongoing activities.
Mohave Mine Gold Project, Arizona USA
M3 Metals is pleased to announce that it has completed a preliminary sampling and mapping program on the Mohave Mine Gold Project. The program included geological mapping, structural analysis and the collection of approximately 200 rock chip and grab samples from numerous target areas spread across the property. The program was designed to identify potential controls on mineralization and prioritize target areas for the planned drilling program. Samples have been submitted to an analytical lab in Reno, Nevada. Samples are currently being analysed and results will be released as appropriate.
M3 Metals also continues to move forward with its Plan of Operation submitted to the Bureau of Land Management ("BLM") outlining the planned drilling program and corresponding Environmental Assessment work required to get permits for the disturbance of approximately 900 Acres. This is a significant undertaking and represents an area close to one third of the entire Project area. The extent and location of the 900 acres of proposed disturbance is based on the presence of numerous historic gold mines, elevated gold in soil and rock samples, and more than 550 historic drill holes totaling approximately 68,000 feet drilled.
COVID-19 Mitigation Measures
M3 Metals has been closely monitoring the developments of the novel coronavirus pandemic ("COVID-19") through the World Health Organization, the Public Health Agency of Canada, and the U.S. Department of Health and Human Services. M3 Metals holds the health and safety of its employees, contractors and communities as a top priority and critical responsibility.
M3 Metals is working closely with its contractors located in the U.S. to ensure that all activities being undertaken are being done in-line with regulations and recommendations currently in place.
Ongoing field work does not involve international workers, and plans are in place to ensure that any travel complies with any restrictions or advisories. Currently staff designated to be at site and decisions regarding future travel to site will be made based on local, state and federal government travel advisories.
M3 Metal's Vancouver office staff are currently working from home until government advisories change.
Block 103 Iron Ore Project
M3 Metals has submitted a permit application for trenching at 16 separate DSO (Direct Shipping Ore) style targets identified for their potential to host near surface haematite rich mineralization. The target areas were determined as part of a joint exploration program between Tata Steel Minerals Canada Ltd. ("Tata") and M3 Metals in 2014 under the terms of the road access and use and exploration agreement between them dated September 29, 2014 and amended effective March 1, 2016. Preliminary identification of the target areas were determined from airborne magnetic and airborne gravity surveys. Additional follow-up ground-based surveys subsequently led to confirm and better define the target areas which were never tested.
M3 Metals continues to seek a partner on the Block 103 Project.
Stars Copper Project
M3 Metals has secured permits for drilling at its Stars Copper Project to expand on the 2018 discovery of a new copper porphyry system in British Columbia. The current permits allow for drilling at 20 additional drill sites falling within the area-based permit which give the Company the ability to adjust the exact location of the drill sites without having to submit new permit application giving flexibility moving forward.
The Company continues to analyse the market conditions to determine the potential for future work at the Stars Project.
Adrian Smith, P.Geo., is Qualified Person as defined by National Instrument 43-101 for the above-mentioned project. The QP is a member in good standing of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) and the Professional Engineers & Geoscientists Newfoundland & Labrador (PEGNL) as a registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed above.
ABOUT M3 METALS CORP.
M3 METALS CORP.
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This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
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