December 31, 2018 – Vancouver, British Columbia – Canadian Energy Materials Corp. (“Canadian Energy”, or the “Company”) (TSX-V: CHEM) is pleased to announce that preparations are underway for an early-2019 drill program on the Grindstone Copper-Nickel-Cobalt project in northwestern New Brunswick, Canada.
The Phase 1 diamond drill program will consist of approximately 2,500 meters of drilling across 7 high-priority, road-accessible target zones. Targets were selected after a thorough interpretation of the available geophysical, geochemical and geological data, which most notably includes highly anomalous stream and soil geochemical anomalies, and data from a helicopter-borne mobile magnetotelluric (“MMT”) and magnetic survey, flown in the summer of 2018. The survey comprised 393 line kilometers on 200 meter line spacings, over a grid area of approximately 75 square kilometers.
The airborne survey was conducted by Expert Geophysics Limited (“EGL”) of Toronto, Ontario, under the supervision of Andrei Bagrianski, Ph.D, P.Geo, President and Founder of EGL. Christopher (Kit) Campbell of Campbell & Walker Geophysics Ltd. led the interpretation and target selection process.
The Company has retained Géominex Inc. of Rimouski, Québec to manage the drill program. Drill permitting is currently underway, with the drill program expected to commence shortly after receipt of the necessary permits and approvals. Surface rights access is managed under an exploration licence agreement with J.D. Irving, Ltd., who operate a commercial wood lot in the vicinity of the project.
The Phase 1 drill program is fully funded. A more detailed technical presentation, along with a new company website, will be released in the coming weeks.
Thomas Hasek, P.Eng., a Technical Advisor of Canadian Energy and a Qualified Person (Q.P.) under National Instrument 43-101, has reviewed and approved the technical information provided in this news release.
ON BEHALF OF THE BOARD
“Michael E. Schuss”
President & Chief Executive Officer
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This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.