By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, November 8, 2016

Markets have edged higher in trading today even as the U.S. heads to an election. On Monday, markets rallied as polls showed the Democratic Presidential candidate leading. Following the election, the focus will once again shift to the Federal Reserve, which is likely to raise rates at its December meeting. Gold prices have edged lower as there is now some certainty over the U.S. elections. However, the precious metal could see further losses if the case for a rate hike continues to strengthen. Having said that, miners have brought down their cash costs significantly and lower prices for gold are expected to boost physical demand, especially in India, which is in the middle of a festival season.

Canada Strategic Metals Inc. (TSX-Venture:CJC) is a Montreal, Quebec-based company focused on the exploration and development of a number of projects covering over 20,000 hectares in Quebec. With broad management experience in green technology and junior resource exploration and development, Canada Strategic Metals is well positioned to aggressively advance this promising property portfolio for its shareholders.

This morning, Canada Strategic Metals announced the results of its summer 2016 exploration program on the Sakami project. The program included 185 kilometres of magnetic and electromagnetic surveying on three sectors of the property: JR Ouest, Iles, and La Pointe. The program also included prospecting, mapping and sampling work on the Peninsula and Iles sectors. A total of 511 chip samples and 156 channel samples were collected.

The geophysical survey was divided into three sectors, covering 85 line-km on the Iles sector, 89 line-km on the JR Ouest sector and 11 line-km on the La Point sector. The survey helped to better define the position and nature of the various geological units and many fault and shear structures. Interpretation of the various domains identified a total of 61 anomalies with the potential to be associated with mineralization.

In addition, field crews completed a surface exploration program that included prospecting, mapping and chip sampling of the mineralized zones identified, as well as channel sampling on some of the previously identified showings, including the Kelmia showing, the Simon showing and the new Bouleau d'Or showing.

The 2016 exploration program was managed by Consul-Teck Exploration of Val-d'Or, Quebec who supervised the program. A total of 156 channel samples and 511 chip samples were collected and analyzed.

As of the market close, shares of CJC were down 3.45% on volume of 8.5k. As of today’s trading, shares are around their 52-week mid-way point as prices have pulled back from summer highs.

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