Creso Intersects 2.20 g/t Gold Over 34.50 m on the Duggan Gold Deposit.
February 14 2013 - 2:12PM
Marketwired Canada
Creso Exploration Inc. ("Creso" or the "Corporation") (TSX
VENTURE:CXT)(OTCQX:CRXEF)(FRANKFURT:C3X) is pleased to announce the results from
the most recent drill program completed on the Duggan gold property located in
the Shining Tree area of northeastern Ontario.
A total of 5 diamond drill holes, totaling 1,117 metres, were completed in
December of 2012 and January of 2013. The drilling program tested the historic
drill holes in five sections within the mineralized deposit over 280m,
confirming historic mineralization (eg CD13-03: historic section 1.3g/t over
87m).
The Duggan zone comprises several N-S vein systems over 900m of a strike length,
tested to 150m depth, and open to the North and South showing continued
structure, alteration, and anomalous gold.
Result highlights:
-- CD13-03: 2.20 g/t over 34.50 metres, including 11.41 g/t over 5.65
metres which includes 40 g/t over 1.0 metre and 27.50 g/t over 0.80
metres.
-- CD13-04: 2.13 g/t over 10.20 m, including 11.70 g/t over 1.10 metres;
and 2.24 g/t over 4.45 metres.
Mineralization on the Duggan deposit is contained within altered plutonic rock.
Alteration consists of strong pervasive calcite, hematization and moderate to
strong silicification. Quartz and quartz-calcite stringers are common throughout
the zone. Pyrite is the main sulphide mineral, with trace amounts of
chalcopyrite and arsenopyrite. Visible gold is present in small amounts. The
mineralized body strikes N-S and steeply (70-75 degrees ) dips to the West.
Table 1: Drill holes collar location.
----------------------------------------------------------------------------
Elevation Length
Hole ID Easting(i) Northing(i) (m) (m) Dip Azimuth
----------------------------------------------------------------------------
CD12-01 497911.2 5279953.6 357.6 177 -45 80
----------------------------------------------------------------------------
CD13-01 497950.6 5279915.2 356.4 150 -50 80
----------------------------------------------------------------------------
CD13-02 497949.6 5279674.5 361.3 241 -60 80
----------------------------------------------------------------------------
CD13-03 497877.6 5279755.9 364.0 315 -55 90
----------------------------------------------------------------------------
CD13-04 497901.0 5279811.1 361.4 234 -52 90
----------------------------------------------------------------------------
(i)Datum: NAD 83 UTM Zone 17
Table 2: Results from the reported drill holes.
----------------------------------------------------------------------------
From To Length Au
Hole ID (m) (m) (m)(ii) (g/t)
----------------------------------------------------------------------------
CD12-01 13.30 14.15 0.85 0.81
107.65 108.50 0.85 0.94
114.25 120.90 6.65 0.67
160.40 162.55 2.15 0.53
----------------------------------------------------------------------------
CD13-01 24.70 25.60 0.90 0.96
75.55 90.30 14.75 0.61
95.45 102.45 7.00 0.47
----------------------------------------------------------------------------
CD13-02 14.80 16.85 2.05 0.41
39.00 39.50 0.50 1.22
65.50 66.20 0.70 5.82
125.50 126.25 0.75 6.97
133.35 172.85 39.50 0.48
Including: 133.35 146.55 13.20 1.06
189.75 190.70 0.95 1.07
201.00 202.00 1.00 0.71
213.90 214.70 0.80 1.81
----------------------------------------------------------------------------
CD13-03 184.50 188.20 3.70 4.53
Including: 184.50 186.00 1.50 10.38
209.50 244.00 34.50 2.20
Including: 226.25 231.90 5.65 11.41
Including: 226.25 227.25 1.00 40.00
Including: 231.10 231.90 0.80 27.50
253.65 256.80 3.15 0.37
259.80 265.40 5.60 0.52
294.80 296.40 1.60 0.45
----------------------------------------------------------------------------
CD13-04 149.35 159.55 10.20 2.13
Including: 156.90 158.00 1.10 11.70
167.30 171.75 4.45 2.24
173.5 177.45 3.95 0.22
180.00 181.55 1.55 4.04
193.20 200.65 7.45 0.44
205.00 208.80 3.80 0.64
----------------------------------------------------------------------------
(ii)Intervals represent core lengths and not true width
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
gold and other trace elements at AGAT Laboratories by standard industry
procedures. These procedures include gold by fire assay-ICP-OES finish (202062)
and silver by aqua regia digest-AAS finish (201025). Multi-element analysis is
done by a lithium borate fusion with XRF finish (201676).
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.
This press release has been reviewed and approved by Mr. Michael White, M.Sc. P.
Geo, the Qualified Person under National Instrument 43-101.
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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Pierre Gauthier
Chairman, Interim President and CEO
(514) 866-6001 # 239
(514) 866-6193 (FAX)
info@creso.ca
www.creso.ca
Douglas Murray
Investor Relations
(613) 220-0569 / (613) 882-7295
dmurray@creso.ca
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