Creso Announces 58.7 g/t Ag Over 21.7m Intersection Including 695 g/t Ag Over 1.4m Intercept on the Mann Property
April 04 2012 - 2:31PM
Marketwired Canada
Creso Exploration Inc. ("Creso" or the "Corporation") (TSX VENTURE:CXT)
(OTCQX:CRXEF) (FRANKFURT:C3X) is pleased to announce the results of the most
recent drill program completed on the Mann property in Milner Township.
Highlights from the results reported here are the intervals 695 g/t Ag over
1.4m, from 23.3 to 24.7m in a new zone intersection grading 58.7 g/t Ag over
21.7m, from 16.6m to 38.3m in DDH MN12-06. Also reported are two newly
discovered anomalous zones, one from DDH MN12-07, giving 43.2 g/t Ag over 4.0m,
from 7.0 to 11.0m and 21.0 g/t Ag over 8.85m from 16.75 to 25.6m, and the other
from DDH 12-08 which intersected veinlets grading 37.4 g/t Ag over 2.6m, from
31.9 to 34.5m. The above-mentioned holes were designed to test IP
chargeability/resistivity anomalous zones from the recently completed Insight
Gradient Array survey (see Press Release dated January 18, 2012).
A total of 509m of diamond drilling were completed in the program, the silver
results of which are shown in Table 1. Holes MN12-01 through MN12-05, inclusive,
were designed to further define the No. 3 zone and D zone historic workings.
Holes MN12-06 to MN12-10, inclusive, were designed to test high chargeability
and high resistivity contacts in a previously undrilled northwest-southeast
trending zone to the west of the historic areas, as indicated by the IP survey
results. Silver values are found in carbonate and chlorite mineralized veins
which are hosted in medium to coarse grained diabase displaying moderate to
strong magnetization. Sulphide mineralization is disseminated and comprises 0.1
to 0.5 vol.% of mineralized veins. In addition to the above-mentioned results,
new zones with significant silver enrichment were cut by holes MN12-09 and
MN12-10, which were designed to test the IP target zone 1. Hole MN12-08, which
was designed to test the western extension of the No. 3 zone, confirmed the
presence of mineralization to approximately 100m west of the historic shaft. The
results of holes MN12-07 and MN12-08, which are localized in Cobalt sediments,
are an important indicator that these sediments should be an object of wider
exploration.
Table 1. Silver Enriched Zones
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Hole Results
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Hole
Number Length Dip From To Length Grade Comment
----------------------------------------------------------------------------
(m) (deg.) (m) (m) (m) (g/t)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MN12-01 29 -80 10.0 15.0 5.0 17.8 Above historic #3 zone
----------------------------------------------------------------------------
#3 zone near shaft, above
MN12-02 32 -70 3.0 6.95 3.95 14.9 drift
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and 15.3 19.4 4.1 19.0
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#3 zone near shaft, below
MN12-03 30 -60 4.35 16.0 11.65 7.0 drift
----------------------------------------------------------------------------
including 15.0 16.0 1.0 50.0
----------------------------------------------------------------------------
No significant
MN12-04 32 -45 intersections D zone, east end
----------------------------------------------------------------------------
D zone, west end below
MN12-05 62 -45 35.4 58.0 22.6 14.7 drift
----------------------------------------------------------------------------
IP target 6, south of D
MN12-06 122 -45 16.6 38.3 21.7 58.7 zone
----------------------------------------------------------------------------
including 23.3 24.7 1.4 695.0
----------------------------------------------------------------------------
including 121.4 122.0 0.6 250.0
----------------------------------------------------------------------------
MN12-07 50 -45 7.0 11.0 4.0 43.2 IP target 5, N-S anomaly
----------------------------------------------------------------------------
and 16.75 25.6 8.85 21.0
----------------------------------------------------------------------------
MN12-08 89 -45 20.4 26.0 5.6 26.0 West extension of #3 zone
----------------------------------------------------------------------------
and 31.9 34.5 2.6 37.4
----------------------------------------------------------------------------
MN12-09 32 -45 3.0 10.85 7.85 11.2 IP target 1, N-S anomaly
----------------------------------------------------------------------------
MN12-10 31 -45 3.0 4.8 1.8 28.5 IP target 1, N-S anomaly
----------------------------------------------------------------------------
and 12.6 14.0 1.4 29.0
----------------------------------------------------------------------------
All intervals in Table 1 represent core lengths and not true widths.
The technical content of this press release has been reviewed and approved by
Mr. Mike White, M.Sc., P.Geo., the Qualified Person under National Instrument
43-101.
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
silver, gold and other trace elements at AGAT Laboratories by standard industry
procedures. These procedures include silver and gold by fire assay-AAS finish,
with follow-up silver and gold analyses by fire assay-gravimetric finish and/or
metallic screen. Multi-element analysis is done by ICP/ICP-MS (201078) using a
lithium borate fusion. Whole rock analysis is done by ICP-OES (201076) using a
lithium borate fusion.
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.
About Creso
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, and additional interests are held in base metal
properties in Guatemala.
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.
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