Impact: Positive
CMC Metals announced high-grade drilling results from the 19-hole (2,100m) drilling program completed at its flagship Silver Hart project in the Yukon. We view these results positively as they have returned multiple intersections of high-grade Ag-Pb-Zn and have extended the TM West vein structure at the Main zone by 360m. Although we have yet to see drill hole locations associated with these new assays, we would expect continued high-grade AgEq intercepts to translate positively into resource growth either through vein extensions or delineation of higher-grade zones. We believe ongoing positive drill results should continue to re-rate the stock, which closed +53% on the back of these results.
