MONTREAL, QUEBEC--(Marketwire - Jan. 24, 2013) - Creso Exploration Inc. ("Creso" or the "Corporation") (TSX VENTURE:CXT)(CRXEF)(C3X.F) is pleased to announce results from its latest drill program completed on the Minto gold property located in the Shining Tree area of northeastern Ontario.
Highlights include 5.13 g/t Au over 36.5 m, 2.53 g/t Au over 35.7 m, 1.94 g/t Au over 20.55 m, 17.5 g/t over 1.4 m and 18.4 g/t over 0.70 m.
A total of 6 diamond drill holes, totaling 1,076 metres, were completed in December of 2012. The company has mandated Roscoe Postle Associates Inc. to complete a review of the drilling and a letter report on the Minto property.
Table 1: Gold assay results highlights from drill holes CM12-01 to CM12-06
|Hole ID||From (m)||To (m)||Interval (m)*||Au g/t|
|CM12-05||no significant results|
|CM12-06||no significant results|
|*Intervals represent core lengths and not true width|
The Minto gold rich breccia lies in a N-S deformation corridor intersected by E-W structures. Holes CM12-01 to CM12-04 tested the southern portion of the property in an area where a recent compilation had indicated strong similarities with the northern portion of the Minto property which previously returned 18.2 g/t over 65.7 m in the upper body and 13.3 g/t Au over 82.5 m in the lower body (See press release of August 9, 2010). Holes CM12-05 and CM12-06 tested the eastern portion of the property and are considered as exploratory drill holes.
On the Duggan property, a 5 drill hole, 1,117 metres, drilling program which aimed at extending the mineralized body along the 370 m north trending zone was recently completed and results are pending. The gold mineralization at Duggan is developed along a broad north trending zone of sub-parallel shears where drilling has intersected in the past 1.52 g/t Au over 75.5 m (See press release of June 8, 2011).
Creso Exploration QA/QC procedures follow standard industry practices. Sealed core boxes are transported once daily from the drill rig to the core logging facility by qualified drill contractor personnel. Core is logged and prepared for sampling in a secure building. Sample intervals are selected according to geologic contacts, visible mineralization and alteration. Drill core is cut along a centre line using a typical rock saw designed for core cutting. Sampled core is placed into sample bags, sealed and shipped to an assay lab that follows ISO 9000 series of Quality Management standards. All samples were analyzed for gold and other trace elements at AGAT Laboratories by standard industry procedures. These procedures include gold by fire assay-ICP-OES finish (202062) and silver by aqua regia digest-AAS finish (201025). Multi-element analysis is done by a lithium borate fusion with XRF finish (201676).
Blank and certified standard samples are routinely submitted with all sample batches sent to the lab for assay. In addition, replicates, duplicates and field duplicates are routinely included in sample batches. Samples with visible gold are analyzed with procedures designed to reduce the variability of the sample results. And finally, samples are routinely sent to other labs for additional checks.
This press release has been reviewed and approved by Mr. Michael White, M.Sc. P. Geo, the Qualified Person under National Instrument 43-101.
The Corporation's principal mining exploration holdings are located in the Shining Tree mining camp of Northern Ontario within 100 km of the Timmins and Kirkland Lake mining camps.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements that address future events and conditions, which are subject to various risks and uncertainties. Actual results could differ materially from those anticipated in such forward- looking statements as a result of numerous factors, some of which may be beyond the Corporation's control. These factors include: results of exploration activities, general market and industry conditions, and other risks disclosed in the Corporation's filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions of the Corporation's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. Depending on exploration results and available financing, the Corporation may at any point modify its work program.