Crowflight Discovers New Zone of Mineralization at M11A North; Intersects 26.7 Metres Grading 1.30% Nickel
April 21 2008 - 7:00AM
Marketwired
TORONTO, ONTARIO (TSX VENTURE: CML) today announced further
assay results from its 2008 winter drilling program that recently
concluded in the Thompson Nickel Belt, Manitoba.
Exploration diamond drilling has intersected what is interpreted
to be a new zone of nickel sulphide mineralization located beneath
the M11A North deposit, approximately 4 kilometres north of the
Bucko Lake Nickel Deposit (Bucko) that is currently under
development. Of particular note is Hole M08-03 that intersected
26.7 metres (87.5 feet) grading 1.30% nickel including 5.76 metres
(16.6 feet) grading 3.06% nickel.
In addition to encouraging results at M11A North, Crowflight has
intersected additional nickel mineralization at its Halfway Lake
deposit. Please refer to Table 1 for a summary of results received
to date and Figure 1 for a map depicting the location of
drilling.
Greg Collins, Crowflight's Vice President of Exploration,
commented on the results stating: "The results from hole M08-03
represent some of the highest grade mineralization over the longest
interval that we have encountered at M11A North to date. In 2007,
work near M11A focused on establishing a NI 43-101 compliant
Inferred Resource following the initial discovery of the deposit in
2006. Hole M08-03 appears to have intersected a new Lower Zone of
mineralization located beneath the known resource that remains open
along strike and at depth. Overall, results from the 2008 winter
exploration program continue to demonstrate the potential for
resource additions near Bucko and provide new options for
Crowflight to support future expansion or extended mine life at its
Bucko operations."
Table 1.
Winter 2008 Exploration Program - Summary of Assay Results To Date
----------------------------------------------------------------------------
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Core Core
Drill Hole From To Length Length Nickel Copper PGE's(1)
---------- ---- -- ------ ------ ------ ------ --------
(metres) (metres) (metres) (feet) (%) (%) (gpt)
M11A Zone
M08-03 357.05 383.73 26.68 87.5 1.30 0.06 0.41
Incl. 357.05 360.05 3.00 9.8 2.24 0.14 0.75
Incl. 374.54 380.30 5.76 18.9 3.06 0.16 1.02
M08-02 no significant assays
Apex Target
AP08-01 no significant assays
AP08-02 no significant assays
Bucko North
BX08-01 321.47 330.00 8.53 27.99 0.45 0.02 0.05
BX08-02 no significant assays
Halfway Lake
HW08-01(2) 348.20 351.60 3.40 11.2 0.90 0.08 0.11
And 366.00 370.00 4.00 13.1 0.69 0.05 0.13
HW08-02(2) 334.22 347.25 13.03 42.7 1.58 0.09 0.26
Incl. 334.22 339.45 5.23 17.2 1.76 0.07 0.24
Incl. 338.45 339.45 1.00 3.3 2.44 0.05 0.23
HW08-03 no significant assays
HW08-04 183.62 199.23 15.61 50.1 1.03 0.06 0.16
Incl. 198.82 199.23 0.41 1.3 8.35 0.03 2.15
HW08-05 135.66 139.00 3.34 10.7 1.16 0.09 0.16
HW08-06 181.98 182.28 0.30 1.0 5.11 0.27 0.63
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(1) Combined platinum and palladium values
(2) Previously reported results - see press release dated February 29, 2008
Intersection intervals reported are core lengths, actual true widths are
unknown at this time but are generally 70 to 80% of core length. Once known,
true widths are calculated for each intersection. These could vary somewhat
from time to time as the zones are re-interpreted thereby altering the
geometry.
During the 2008 winter program, Crowflight completed 21 drill
holes for a total of 8,200 metres and has received assay results
for 12 holes thus far. Results from the remaining nine holes will
be released over the coming weeks as assay results become
available. Crowflight will also be updating the resource estimates
on its Halfway Lake, Apex and M11A deposits as exploration results
are received and analyzed.
Crowflight expects to begin its drilling program on the
Manibridge joint venture with Pure Nickel in mid-May 2008. For now,
the Company has temporarily ceased drilling activities in Manitoba
due to conditions related to the annual spring thaw.
Over the coming months, Crowflight plans to complete studies on
increasing overall mine reserves at Bucko by lowering the cut-off
grade from 1.4% nickel to approximately 1.0% nickel and utilizing
the mill capacity of 1,500 tonnes per day. A planned Cdn$2.0
million underground delineation drill program is in progress at
Bucko. The drill results from this program will be used to increase
the confidence of underground reserves, determine the potential for
resource additions, optimize cut-off grades and obtain further
geotechnical information to finalize the mine design.
Qualified Person/Quality Control Procedures
This press release has been prepared and reviewed by Mr. Greg
Collins, P.Geo (APGO/APEGM), a Qualified Person under the NI 43-101
guidelines. Fire assays were performed at the ALS-Chemex laboratory
in Vancouver on all the samples for Gold and PGE's which undergo an
ICP-AES finish and Sodium Peroxide Fusion. All other metals undergo
an ICP-AES finish. Standards and blanks are submitted with each
sample batch.
Crowflight Minerals - Canada's Next Nickel Producer
Crowflight Minerals Inc. (TSX VENTURE: CML) is a Canadian junior
mining exploration and development company focused on nickel,
copper and Platinum Group Mineral (PGM) projects in the Thompson
Nickel Belt and Sudbury Basin. The Company currently owns and/or
has under option approximately 800 square kilometres of exploration
and development properties in Manitoba and Ontario.
Crowflight's priority is to bring the fully-funded Bucko Lake
Nickel Project located near Wabowden, Manitoba into production by
the third quarter of 2008.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the
information in this press release constitutes "forward-looking
information" within the meaning of Canadian securities law. Such
forward-looking information may be identified by words such as
"plans", "proposes", "estimates", "intends", "expects", "believes",
"may", "will" and include without limitation, statements regarding
mineral resource estimates, timing and cost of future exploration
programs, development potential, timing and cost of production and
development and impact of exploration results. There can be no
assurance that such statements will prove to be accurate; actual
results and future events could differ materially from such
statements. Factors that could cause actual results to differ
materially include, among others, metal prices, competition, risks
inherent in the mining industry, and regulatory risks. Most of
these factors are outside the control of the Company. Investors are
cautioned not to put undue reliance on forward-looking information.
Except as otherwise required by applicable securities statutes or
regulation, the Company expressly disclaims any intent or
obligation to update publicly forward-looking information, whether
as a result of new information, future events or otherwise.
Total Shares Outstanding: 251.0MM
Fully Diluted: 290.0MM
52-Week Trading Range: C$0.45 - $1.35
Figure 1. 2008 Winter Drilling Program Locations is available at
the following web link:
http://media3.marketwire.com/docs/cml0421fig1.pdf.
Figure 2. M11A Cross Section Looking South Southwest is
available at the following web link:
http://media3.marketwire.com/docs/cml0421fig2.pdf.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Crowflight Minerals Inc. Mike Hoffman President and
CEO (416) 861-2964 Crowflight Minerals Inc. Heather Colpitts
Manager, Investor and Public Relations (416) 861-5803 Email:
info@crowflight.com Website: www.crowflight.com
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