Blue Note Completes Croinor 2011 Drill Program and Provides Update on Technical Report
November 03 2011 - 8:30AM
PR Newswire (Canada)
MONTREAL, Nov. 3, 2011 /CNW Telbec/ - Blue Note Mining Inc. and
Critical Elements Corporation announce results from the last six
holes of a recently completed 3,000 meter diamond drill program at
the Croinor project, located near Val d'Or, Quebec. The eleven hole
drill program was designed to extend the limits of the mineralized
lenses in the area of the current ore reserves in order to provide
additional definition required for mine planning. Significant
mineralization was found in every hole with grades ranging from
1.10 g/t Au up to 50.76 g/t Au (see news release dated October 20,
2011). The best results from the last six holes were returned from
CR-11-416 that intersected a true width of 5.19 meters grading 5.28
g/t Au from 210.4 to 215.7 meters and included 9.28 g/t Au over
2.16 meters. Significant mineralized zones from holes CR-11-414 to
CR-11-419 are as follows:
_________________________________________________________________ |
| | | From | To | Length |True Width| Au | |Hole no.
|Section|Dip|(meters)|(meters)|(meters)| (meters) |(g/t)|
|_________|_______|___|________|________|________|__________|_____|
|CR-11-414| 310-W |-56| 240.0 | 241.6 | 1.60 | 1.08 |4.41 |
|_________|_______|___|________|________|________|__________|_____|
|CR-11-415| 270-W |-72| 207.3 | 207.8 | 0.50 | 0.47 |10.68|
|_________|_______|___|________|________|________|__________|_____|
|CR-11-415| | | 211.5 | 212.1 | 0.60 | 0.58 |3.41 |
|_________|_______|___|________|________|________|__________|_____|
|CR-11-415| | | 213.3 | 214.9 | 1.60 | 1.54 |2.80 |
|_________|_______|___|________|________|________|__________|_____|
|Includes | | | 214.4 | 214.9 | 0.50 | 0.48 |6.19 |
|_________|_______|___|________|________|________|__________|_____|
|CR-11-415| | | 216.5 | 217.0 | 0.50 | 0.48 |1.10 |
|_________|_______|___|________|________|________|__________|_____|
|CR-11-415| | | 220.0 | 220.5 | 0.50 | 0.48 |2.61 |
|_________|_______|___|________|________|________|__________|_____|
|CR-11-416| 290-W |-67| 210.4 | 215.7 | 5.30 | 5.19 |5.28 |
|_________|_______|___|________|________|________|__________|_____|
|Includes | | | 213.5 | 215.7 | 2.20 | 2.16 |9.28 |
|_________|_______|___|________|________|________|__________|_____|
|Includes | | | 215.2 | 215.7 | 0.50 | 0.49 |20.41|
|_________|_______|___|________|________|________|__________|_____|
|CR-11-417| 260-W |-59| 231.3 | 232.3 | 1.00 | 1.00 |4.09 |
|_________|_______|___|________|________|________|__________|_____|
|CR-11-417| | | 249.7 | 250.2 | 0.50 | 0.50 |1.48 |
|_________|_______|___|________|________|________|__________|_____|
|CR-11-417| | | 255.0 | 260.0 | 5.00 | 5.00 |2.19 |
|_________|_______|___|________|________|________|__________|_____|
|Includes | | | 259.0 | 260.0 | 1.00 | 1.00 |6.39 |
|_________|_______|___|________|________|________|__________|_____|
|CR-11-417| | | 283.1 | 283.6 | 0.50 | 0.50 |7.30 |
|_________|_______|___|________|________|________|__________|_____|
|CR-11-417| | | 287.1 | 287.7 | 0.60 | 0.60 |1.12 |
|_________|_______|___|________|________|________|__________|_____|
|CR-11-418| 290-W |-56| 137.3 | 138.0 | 0.70 | 0.70 |3.85 |
|_________|_______|___|________|________|________|__________|_____|
|CR-11-418| | | 162.0 | 163.9 | 1.90 | 1.90 |4.28 |
|_________|_______|___|________|________|________|__________|_____|
|CR-11-419| 240-W |-55| 102.0 | 102.5 | 0.50 | 0.50 |1.92 |
|_________|_______|___|________|________|________|__________|_____|
|CR-11-419| | | 105.0 | 105.8 | 0.80 | 0.80 |4.08 |
|_________|_______|___|________|________|________|__________|_____|
|CR-11-419| | | 129.6 | 130.1 | 0.50 | 0.50 |4.46 |
|_________|_______|___|________|________|________|__________|_____|
|CR-11-419| | | 134.4 | 135.0 | 0.60 | 0.60 |1.75 |
|_________|_______|___|________|________|________|__________|_____|
|CR-11-419| | | 180.3 | 181.7 | 1.40 | 1.40 |4.27 |
|_________|_______|___|________|________|________|__________|_____|
|Includes | | | 181.2 | 181.7 | 0.50 | 0.50 |9.06 |
|_________|_______|___|________|________|________|__________|_____|
As with previous drilling proximal to the current ore reserves, the
results from this recently completed drill program continue to
demonstrate continuity of the mineralized lenses and the potential
to further increase reserves in the immediate area of the current
ore reserves at Croinor. Update on Technical Report and Project
Financing The update of the NI43-101 prefeasibility study
integrating the 2010 and 2011 drilling results is well underway and
is expected to be completed in the coming weeks. During the course
of the last few months, Blue Note has aggressively been pursuing
project financing opportunities and completion of the updated
prefeasibility study will enable Blue Note to further advance
discussions with potential project financing partners that have
been identified. The drill program was carried out by Forages La
Virole and was supervised by InnovExplo personnel under Carl
Pelletier P.Geo., a qualified and independent person as defined
under NI 43-101 guidelines. Gold values were determined by fire
assay and AAS, or fire assay and gravimetric analyses if over 3
g/t, at the Techni-Lab S.G.B. Abitibi Inc. laboratory in
Ste-Germaine-Boulé, Quebec. Arthur Hamilton, P.Geo., Exploration
Manager for Blue Note Mining Inc. is a Qualified Person as defined
under NI 43-101 guidelines and has reviewed the technical
information contained in this release. About Blue Note Mining Blue
Note Mining is a mineral exploration and mining company
headquartered in Montreal with properties located in known gold
regions of Canada, including the prolific Val-d'Or region of Quebec
and northern New Brunswick. About Critical Elements Corporation
Critical Elements is actively developing its 100%-owned Rose
lithium-Tantalum flagship project located in Quebec. The project
hosts a current new NI 43-101 compliant Indicated resource of 26.5
million tonnes of 1.30% LI(2)O Eq. or 0.98% LI(2)O and 163 ppm
Ta(2)0(5) and Inferred resource of 10.7 million tonnes of 1.14%
LI(2)O Eq. or 0.86% LI(2)O and 145 ppm Ta(2)0(5). Critical Elements
has commissioned a prefeasibility study for the project from
Genivar, one of the largest independent engineering firms in
Canada. Genivar is also doing an environmental study, and Acme
Metallurgical Ltd. of Vancouver is carrying out project metallurgy.
Critical Elements' portfolio also includes rare-earth and
Tantalum-Niobium projects in the Rocky Mountains of British
Columbia and in Quebec, as well as a 50% interest in the Croinor
project, which is located in Quebec and hosts a current NI 43-101
compliant measured and indicated resource of 814,228 tonnes at 9.11
g/t Au, for 238,414 ounces of gold at a 5 g/t cut-off.
Forward-Looking Statements This news release contains discussion of
items that may constitute forward-looking statements within the
meaning of securities laws that involve risks and uncertainties.
Although the company believes the expectations reflected in such
forward-looking statements are based on reasonable assumptions, it
can give no assurances that its expectations will be achieved.
Factors that could cause actual results to differ materially from
expectations include the effects of general economic conditions,
actions by government authorities, uncertainties associated with
contract negotiations, additional financing requirements, market
acceptance of the Company's products, technical uncertainties
associated with operating an underground mine and competitive
pressures. These factors and others are more fully discussed in
Company filings with Canadian securities regulatory authorities.
"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 this release." BLUE NOTE MINING INC. CONTACT: Blue Note
shareholders, please contact:Jean MayerExecutive Vice
President(800) 937-3095
x236jmayer@bluenotemining.cawww.bluenotemining.caCritical Elements
shareholders, please contact:Jean-Sébastien Lavallée,
P.GeoPresident & CEO
819-354-5146president@cecorp.cawww.cecorp.caParadox Public
Relations514-341-0408
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