Welcome!

News Feed Item

Chibougamau Mines Update

ROUYN-NORANDA, QUEBEC -- (Marketwired) -- 06/17/14 -- Chibougamau Independent Mines Inc.("Chibougamau Mines") (TSX VENTURE: CBG)(STUT: CLL) wishes to update shareholders about the status of work on our Chibougamau area properties.

Chibougamau Mines has completed a three dimensioned digital compilation of the Grandroy copper gold mine property incorporating historical drill data and recorded infrastructure (pit and ramp) in order to better understand the ore body's structure and depth potential. Geophysical surveys were completed over certain areas deemed to be "on strike" of the mineralized body and additional claims were acquired.

On September 9th and 18th as well as October 3rd, 2013, we reported wide widths of copper silver mineralization in a series of drill holes on our Jaculet #3 area claims. The new drill data as well as historical drill data were compiled and built into sections which allowed us to interpret the potential up dip projection of the zone. A shallow penetration electromagnetic survey using a "beep mat" was completed, which indicated a conductive body in the area of the up dip projection of the copper silver zone intersected in the drilling. A permit has been issued and we intend to trench the area of the geophysical anomaly which has a shallow overburden cover.

On the Berrigan property, which has extensive areas of zinc, gold and silver mineralization indicated in diamond drilling and underground sampling in a ramp, as reported to shareholders in a press release dated February 4th, 2013 and in a NI 43-101 Technical Review posted on our website, we have compiled the historical drilling and our recent drilling in order to better understand the structural controls of the mineralization and have produced a series of new sections and plans. In addition, we have undertaken induced polarization and magnetic surveys on our Lac Elaine property to the west. The Lac Elaine property covers several kilometers of the same rock units as contains the Berrigan zinc, gold and silver mineralization but masked by a late sedimentary rock unit. Our surveys were able to see through the late sedimentary rock cover and indicated several strong geophysical anomalies.

Geophysics and rock sampling were undertaken on areas of our Kokko Creek property. Areas of anomalous copper mineralization will be followed up upon.

Further study of the Mont Sorcier iron, titanium, vanadium deposit (see press release dated December 2, 2013) were undertaken including an analysis of all historical drill data, surface sampling and metallurgical test work. A program has been developed to upgrade the significant historical resource.

A number of deep and shallow penetration induced polarization surveys and magnetometer surveys were undertaken over areas of know copper and copper gold mineralization in Lake Chibougamau. The results showed that the areas of mineralization intersected in historical drilling were detected and indicated the potential strike and dip extensions of the mineralization. A series of drill targets have been prioritized for follow up drilling.

Two stock options totalling 425,000 shares, with 400,000 to a director and senior project manager and 25,000 to a support person which had lapsed, have been reissued at the current market price of $0.06 per share. The options expire in five years. Senior officers continue to take no salary in light of the current market conditions.

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 the release.

Jack Stoch, P.Geo. President and CEO of Chibougamau Independent Mines Inc. wrote this press release. Ray Zalnieriunas, P. Geo., in the capacity as Qualified Person has reviewed and approved the content of this press release.


We Seek Safe Harbour.                               CUSIP Number 167101 10 4

Forward Looking Statements

Except for historical information this News Release may contain certain "forward looking statements". These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the Companies expectations and projections. A more detailed discussion of the risks is available under "disclaimer" on the Company's website.

32,477,248 shares issued and outstanding

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
In his session at @ThingsExpo, Arvind Radhakrishnen discussed how IoT offers new business models in banking and financial services organizations with the capability to revolutionize products, payments, channels, business processes and asset management built on strong architectural foundation. The following topics were covered: How IoT stands to impact various business parameters including customer experience, cost and risk management within BFS organizations.
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business - from apparel to energy - is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that’s no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, will explore how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He wi...
From 2013, NTT Communications has been providing cPaaS service, SkyWay. Its customer’s expectations for leveraging WebRTC technology are not only typical real-time communication use cases such as Web conference, remote education, but also IoT use cases such as remote camera monitoring, smart-glass, and robotic. Because of this, NTT Communications has numerous IoT business use-cases that its customers are developing on top of PaaS. WebRTC will lead IoT businesses to be more innovative and address...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, will discuss th...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single-threaded, you can effectively identify hot spots in your serverless code. In his session at @DevOpsSummit at 21st Cloud Expo, Dave Martin, Product owner at CA Technologies, will give a live demonstration and code walkthrough, showing how ...
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...
Cloud adoption is often driven by a desire to increase efficiency, boost agility and save money. All too often, however, the reality involves unpredictable cost spikes and lack of oversight due to resource limitations. In his session at 20th Cloud Expo, Joe Kinsella, CTO and Founder of CloudHealth Technologies, tackled the question: “How do you build a fully optimized cloud?” He will examine: Why TCO is critical to achieving cloud success – and why attendees should be thinking holistically ab...
As more and more companies are making the shift from on-premises to public cloud, the standard approach to DevOps is evolving. From encryption, compliance and regulations like GDPR, security in the cloud has become a hot topic. Many DevOps-focused companies have hired dedicated staff to fulfill these requirements, often creating further siloes, complexity and cost. This session aims to highlight existing DevOps cultural approaches, tooling and how security can be wrapped in every facet of the bu...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, will introduce two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a...
yperConvergence came to market with the objective of being simple, flexible and to help drive down operating expenses. It reduced the footprint by bundling the compute/storage/network into one box. This brought a new set of challenges as the HyperConverged vendors are very focused on their own proprietary building blocks. If you want to scale in a certain way, let’s say you identified a need for more storage and want to add a device that is not sold by the HyperConverged vendor, forget about it....
SYS-CON Events announced today that Calligo has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo is an innovative cloud service provider offering mid-sized companies the highest levels of data privacy. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalized support service from its globally located cloud platform...