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Chibougamau Independent Receives First Assays from Surface Showings at Berrigan and Nepton Properties

ROUYN-NORANDA, QUÉBEC--(Marketwired - Sept. 6, 2017) - Chibougamau Independent Mines Inc. (TSX VENTURE:CBG)(STUT:CLL)(OTC PINK:CMAUF) is pleased to provide shareholders with assay results from our initial detailed mapping and grab sampling on our 100% owned, Nepton Property (Chevrette Showing area) and on our Berrigan Property (the East Zone area).

Seventeen grab samples were taken on the previously stripped Chevrette Showing area. The Chevrette Showing consists of stringer to massive pyrite and chalcopyrite often oxidized to a gossan. Malachite is common. A 30 metre section of the heavily mineralized zone shows widths of up to 2 metres.

Seven samples were taken in the exposure of heavy chalcopyrite and assayed as follows for gold, silver and copper.

Sample # Au (ppb) Ag (g/t) Cu (%)
E25211 365 7,6 3,32
E25212 517 7,9 8,12
E25213 141 8,9 5,03
E25214 1515 5,4 2,59
E25215 196 4 1,66
E25216 118 5 3,91
E25217 178 14 8,38

On the Berrigan Property, eleven grab samples were taken on the East Zone. Mineralization consists of pyrite, pyrrhotite and sphalerite with occasional galena in exhalative and ultramafic rocks. Assays received to date are as follows:

Sample # Au (ppb) Ag (g/t) Cu (ppm) Zn (%) Pb (%)
E25001 503 3,8 853 3,13 0,02
E25002 163 3,6 569 4,56 0,01
E25003 360 144,6 357 3,00 0,11
E25004 136 18,1 167 1,92 1,42
E25005 230 9,9 198 0,73 0,18
E25006 254 4,8 150 4,23 0,06
E25007 21 1,7 93 0,13 0,01
E25008 17 1 57 0,12 0,01
E25009 <5 0,5 119 0,02 0,00
E25010 8172 20,1 592 7,10 0,15
E25012 174 1,6 495 0,07 0,01
E25013 31 2 618 0,03 0,00
E25014 566 1,5 351 0,05 0,00

Gold occurs in many samples (up to 8.17 g/t Au) as does silver (up to 144.6 g/t Ag). One assay of 1.42% Pb was also reported. We are still awaiting results from sampling on the Berrigan South Zone and Berrigan Main Zone. It is hoped that once we receive all the assay results and combine them with our detailed geological and structural mapping, we will be able to better correlate numerous mineralized drill intersection on the Berrigan Property and guide future exploration on the Nepton asset.

Grab samples are selective by nature and are unlikely to be representative of average grades.

Chibougamau Independent Mines' grab sampling including the quality assurance/quality control program is performed internally by Chibougamau Independent Mines personnel under the immediate supervision of Chibougamau Independent Mines project geologist. Grab samples are tagged and sealed in plastic bags and are delivered directly by Chibougamau Independent Mines personnel to Expert Laboratories Inc, located at 127 Boulevard Industriel, Rouyn-Noranda. The laboratory conducts all aspects of the sample preparation including drying and crushing to a minus 100 mesh screen size and the processing of a 300 gram sub sample for pulverization to a nominal minus 200 mesh size with the remaining crushed reject material being retained for storage. For gold assaying, a 29.16 gram sub-sample of the pulp (1 assay-ton) is taken, fused following the standard procedures used in a fire assay method. The gold content of all samples is determined using atomic Absorption Spectroscopy. Samples containing greater than 1gpt gold are subjected to a re-assay whereby the gold content is determined using a gravimetric fire assay method. For base metal assaying (copper, zinc, lead including silver) a 0.5g sample is initially treated by aqua regia digestion with nitric and hydrochloric acid and subsequently analyzed by a spectrometer of atomic absorption finish. The limit of detection is 0.01% for all metals except for silver which is 3 ppm.

Analytical accuracy and precision are monitored by the routine insertion of blanks, duplicates and reference accredited low/high grade standards at 20 sample intervals in Chibougamau Independent Mines' sample stream. This is in addition to the routine blanks, duplicates (gold, silver, copper and zinc) and accredited standards insertion by Expert Laboratories during the course of the assaying process.

This press release was written by Jack Stoch, P. Geo., President and CEO of Chibougamau Independent Mines Inc. in his capacity as a Qualified Person (Q.P.) under NI 43-101.

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.

We Seek Safe Harbour. CUSIP Number 167101 203

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News published on 6 september 2017 at 11:33 and distributed by: