Sampling adds potential to CMM’s Yemen play

Canadian Mountain Minerals (CYM-A) has received encouraging geochemical samples from its gold exploration project in northwestern Yemen.

More than 80 samples were found to contain anomalous gold, as well as key pathfinder elements such as arsenic and antimony. The findings suggest the geology is favorable to Nevada-style heap-leach, epithermal and Archean-type gold deposits. More than 300 additional samples contained coarse gold of less than 1 mm, and seven of these contained gold values ranging between 15.9 and 155 grams per tonne.

The Calgary-based junior holds the concession in a joint venture with Goldtex Resources (GXR-A) of Kelowna, B.C. Both companies are headed by Charles Fipke, the geochemist who discovered the Lac de Gras diamond deposit in the Northwest Territories.

Fipke is the largest shareholder of Canadian Mountain Minerals, with 4.9 million shares. Goldtex also holds a sizable equity interest (3 million shares), as well as the right to earn a 30% working interest in the Yemen venture.

At 50,000 sq. km, the concession represents 15% of Yemen’s total land area.

Final results from the sampling program are expected by May. The partners note that, in addition to gold, there are more than 100 base metal occurrences in the country, 20 of which can be considered prospects or deposits.