VAL D’OR, QUEBEC–(Marketwired – Nov. 1, 2016) – Hinterland Metals Inc. (TSX VENTURE:HMI) (“Hinterland”) is pleased to announce that it has acquired by map designation the 7-claim (417-hectare) Chilton Cobalt property (the “Property”), located approximately 40 kilometres east of Saint-Jovite in the Laurentian region of Quebec. The Property is accessible by paved highway (Provincial Route 125), and lies three kilometres south of the village of Notre-Dame-de-la-Merci.
The Property is underlain primarily by gabbroic to anorthositic rocks belonging to the Morin Intrusive Suite; lesser quartzite is also present. All of these rocks are within the Grenville Province of the Canadian Shield. The Property covers four documented cobalt-copper-nickel showings (SC-95-02, Chilton, Lac Sicotte and Lac du Marcheur) that from north to south (see map http://www.hinterlandmetals.com/i/maps/chilton/comp.pdf) are described as follows:
- the SC-95-02 showing has returned values up to 772 parts per million cobalt (“ppm Co”), 2,108 parts per million copper (“ppm Cu”) and 3,907 parts per million nickel (“ppm Ni”) in grab samples of pyrrhotite and chalcopyrite mineralization in anorthositic gabbro;
- the Chilton showing has returned values up to 2,500 ppm Co, 3,300 ppm Cu and 12,300 ppm Ni in selected grab samples collected in trenches. These values are associated with pyrrhotite, pentlandite and chalcopyrite mineralization found at two sites along a gabbroic anorthosite, quartzite contact;
- the Lac Sicotte showing has returned up to 1742 ppm Co, 11,100 ppm Cu and 4,625 ppm Ni from a mineralized zone that has been traced over a distance of 110 metres in a series of trenches. This zone is characterised by a quartzite band heavily mineralized with pyrrhotite, pyrite and chalcopyrite within anorthositic gabbro, and returned anomalous silver values up to 12.7 grams per tonne in selected grab samples;
- the Lac du Marcheur showing has returned values up to 1,300 ppm Co, 1,400 ppm Cu and 6,800 ppm Ni in selected grab samples of stockwork-type massive sulphide veins adjacent to a gabbro, quartzite contact.
All sample results quoted above were sourced from the Ministère de l’Énergie et des Ressources naturelles (“MERNQ”) database (http://sigeom.mines.gouv.qc.ca), and have not been verified by Hinterland. Hinterland intends to immediately complete a prospecting and sampling program to examine the showings, and to confirm the results quoted above.
Mark Fekete, P.Geo is the designated “qualified person” as defined in Section 1.2 in and for the purposes of National Instrument 43-101 that reviewed and approved the technical content of this release.
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. This release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Company’s periodic reports including the annual report or in the filings made by the Company from time to time with securities regulators. The Company undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of an unanticipated event.