CFI Announces Assay Results on Trench #2 and Trench #3, Including a Structure of High Grade Fluorspar Over 9.4 Metres Grading...
April 16 2012 - 8:25AM
Marketwired Canada
Canada Fluorspar Inc. (TSX VENTURE:CFI) ("CFI" or the "Company") is pleased to
announce encouraging progress on its trenching program along the southern
extension of the Director Vein with current assays showing high grade fluorspar
mineralization.
Assay Results
CFI has received assay results for samples collected from Trenches #2 and #3
along the interpreted trace of the Director Vein structure, which trends
north-northwest and is subvertical. The two trenches are 123 m apart and the
excavation at the two sites exposed significant fluorspar (or fluorite)
mineralization within the southern extension of the Director Vein. The
mineralized fault zones in the two trenches are as follows:
-- Trench #2: 10.3% CaF2 over 3.4 m of gouge, and 13.3% CaF2 over 1.0 m of
wall rock on the west side of the vein. The combined grade over 4.4 m is
11.0% CaF2.
-- Trench #3: Contains a vein of massive CaF2 with a grade of 90.7% CaF2
over a vein width of 9.4 m. The grade of the wall rock on the west side
of the vein is 28.5% over a vein width of 1.0 m. The combined grade over
a vein width of 10.4 m is 84.8% CaF2. A second narrower vein, 6.3 m to
the west of the larger vein, returned assay values of 86.8% CaF2 over a
vein width of 0.8 m. One metre samples of wall rock on either side of
this vein returned assay values of 17.5% and 14.8% CaF2. The combined
grade over a vein width of 2.8 m is 36.3% CaF2.
Detailed results are presented in the table below (east to west).
2012 Trench Assay Results
Canada Fluorspar Inc. - St. Lawrence Project, NL
Trench No. 2
Sample No. From (m) To (m) Length (m) % Ca F2
65001 0 1.0 1.0 9.5
65002 1.0 4.4 3.4 10.3
65003 4.4 5.4 1.0 13.3
Trench No. 3
Sample No. From (m) To (m) Length (m) % Ca F2
65004 0 1.0 1.0 3.3
65005 1.0 10.4 9.4 90.7
65006 10.4 11.4 1.0 28.5
65007 15.7 16.7 1.0 17.5
65008 16.7 17.5 0.8 86.8
65009 17.5 18.5 1.0 14.8
Assays on samples from these and other trenches collected during the Company's
2012 trench sampling program are carried out at SGS Minerals Inc. (SGS)
laboratory of Lakefield, Ontario, using the Ion Selective Electrode (ISE) method
to determine the fluorite content in the low-grade samples and the Dual Calcium
method for high-grade values. Routine internal check assay work is done at SGS
and results are reviewed and verified by CFI personnel.
Lindsay Gorrill, President & CEO of Canada Fluorspar Inc. stated that, "we knew
from the information we had gathered from past mining that the Director Vein had
been a high grade vein but we did not expect to find such a high grade and such
potential for a significant-sized structure. We are eagerly awaiting assay
results on the remaining trenches and will provide further updates as they
become available."
Initial exploration information regarding these trenches was included in the
Company's press release dated March 1, 2012.
Assay results from samples collected in the additional trench work completed on
this mineralized structure are pending.
The current exploration program is designed to assess the southern extension of
the structure hosting the Director Vein by surface trenching. Nine trenches have
been completed to date. The trenching has successfully traced the Director Vein
structure over a distance of 700 m.
Historic mining operations by Aluminum Company of Canada Limited (Alcan) on the
property produced in excess of 4.2 million tonnes of fluorite during a 44 year
continuous production from 1942 to 1977. At the time of the mine closure,
however, the Director Vein Structure still contained a certain amount of
mineralized material. Production resumed in 1986 and continued until 1991 when
St. Lawrence Fluorspar Limited reopened the nearby Blue Beach North Mine and
processed 440,000 tonnes of mineralized material from a small open pit.
Historic exploration data indicate that there are more than forty mineralized
veins within the CFI property. The three prominent vein structures, however, are
the Director Vein, Blue Beach North Vein, and the Tarefare Vein. Probable
Reserves of the Blue Beach North and Tarefare veins total approximately 5.4
million tonnes at an average grade of 39.8% CaF2. These Mineral Reserves have
been outlined to a vertical depth of 300 m below the surface, but fluorspar
mineralization extends further at depth. The key assumptions, parameters and
methods used to estimate the Mineral Resources and Mineral Reserves, as well as
other relevant information, including data verification, with respect to the
Blue Beach North and Terefare veins can be found in a NI 43-101 Technical Report
prepared by the Roscoe Postle Associates Inc. (RPA) dated April 29 2011, which
has been filed by the Company on SEDAR (www.sedar.com).
About the Company
The Company is a specialty mineral resource company engaged in the development
of fluorspar deposits located in St. Lawrence, Newfoundland, Canada, and is
reactivating the existing Blue Beach North and Tarefare underground fluorspar
mines, expanding the existing mill, constructing a new, environmentally-sound
Tailings Management Facility through Newspar, which it's a 50/50 joint venture
with Arkema. The Company is also building a new deep-water marine terminal in
the outer St. Lawrence Harbour for the export of fluorspar concentrate product.
Mr. James H. Reeves, Senior Geologist with CFI, who is a Qualified Person as
defined in National Instrument 43-101 - Standards of Disclosure for Mineral
Properties, reviewed and approved the technical content of this news release.
The information regarding historic production has not been verified by the
Company and is provided for reference only.
Material results of the Director Vein exploration program have been disclosed in
the Company's press releases dated March 1, 13 and 30, 2012.
For more information please see: www.canadafluorspar.com.
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