CFI Announces Assay Results on Trench #4 and Trench #5, Including a Structure of High Grade Fluorspar Over 2.1 Metres Grading...
April 24 2012 - 8:47AM
Marketwired Canada
Canada Fluorspar Inc. (TSX VENTURE:CFI) ("CFI" or the "Company") is pleased to
announce additional 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 Trench #4 and #5 along
the interpreted trace of the Director Vein structure; which trends
north-northwest and is sub-vertical. The two trenches are 100 m apart and 100 m
and 200 m south of the previously reported Trench #3, respectively (See Figure 1
below). The excavations at the two sites exposed significant fluorspar (or
fluorite) mineralization in Trench #4 and, together with previously reported
trench results, extended the Director Vein structure at least 750 m along
strike.
To view "Figure 1 St Lawrence Area Major Mineralized Veins and 2012 Trenching",
please visit the following link:
http://media3.marketwire.com/docs/Figure1CFI.pdf.
The mineralized fault zone in Trench #4 and #5 is as follows:
-- Trench #4: 33.3% CaF2 over 3.1 m of gouge and 81.3% CaF2 over 2.9 m of
massive CaF2. The combined grade over 6.0 m is 56.49% CaF2.
-- Trench #5: Contains fault gouge with a grade of 2.66% CaF2 over a width
of 7.2 m. The trenching successfully identified the southern extension
of the Director Vein structure in an area that was previously not
tested. Diamond drilling will be required to evaluate the resource
potential of the structure at depth.
Detailed results are presented in table below, with sampling done east to west
along the trenches.
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2012 Trench Assay Results
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Canada Fluorspar Inc. - St. Lawrence, NL
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Trench # 4
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Sample No. From (m) To (m) Length (m) % CaF2
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65010 0 1.0 1.0 4.39
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65011 1.0 4.1 3.1 33.31
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65012 4.1 7.0 2.9 81.27
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65013 7.0 10.9 3.9 13.70
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Trench #5
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Sample No. From (m) To (m) Length (m) % CaF2
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65014 0 5.0 5.0 2.90
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65015 5.0 12.2 7.2 2.66
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65016 12.2 15.5 3.3 0.50
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65017 15.5 18.5 3.0 1.36
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65018 18.5 20.5 3.0 0.64
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65019 20.5 22.6 2.1 1.12
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65020 22.6 24.0 1.4 2.51
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Assays on samples, from these and other trenches collected during the 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.
Material results of the Director Vein exploration program, including initial
exploration information regarding these trenches was included in the Company's
press releases dated March 1, 13 and 30 2012, and April 16, 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. Seven 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 Tarefare 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 with SEDAR (www.sedar.com).
About the Company
CFI is a specialty mineral resource company engaged in the development of
fluorspar deposits located in the St. Lawrence area of Newfoundland, Canada.
Currently, it is in the process of:
-- 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 is a 50/50 joint venture with Arkema.
-- 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.
For more information please see: www.canadafluorspar.com.
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