Critical Elements Corporation: Eastern Extension Continues to Hold Upside at Cronor Gold Project
April 26 2011 - 9:00AM
Marketwired
Critical Elements Corporation (TSX VENTURE: CRE) (OTCQX: CRECF)
(FRANKFURT: F12) ("Critical") and Blue Note Mining Inc. (TSX
VENTURE: BNT) ("Blue Note") are pleased to announce results from
the first eleven holes of the first phase, twenty-three hole
diamond drill program undertaken to test the extensions of the
underground resources/reserves at the Croinor Gold Project located
in Val-d'Or, Quebec.
The 2011 drill program which commenced in February, 2011 set out
to increase Mineral resources and Mineral reserves laterally east
and west along strike, within the current resource block and at
depth (see press release of December 6, 2010). To date, this first
phase of the Croinor drill program has been completed with 23 holes
and 7,185 meters drilled.
Assay results from holes drilled on the eastern extension of the
resource block included in the July 2010 43-101 compliant
prefeasibility study clearly establish the continuity of the
mineralized zones and demonstrate excellent potential to add
resources and reserves to the east of the current resource. Core
sample analyses of significant mineralized zones are shown in Table
1.
Seven of the eleven holes intersected significant gold grades
ranging from 1.81 g/t Au over 1.0 m in hole CR-11-387 to 11.75 g/t
Au over 0.6 m in hole CR-11-382. Additional resources added in this
area will be within 250 m from surface and in proximity to the
planned Croinor infrastructure thereby minimizing development and
capital requirements and improving the economics of the
project.
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Length(i)
Hole no. Section Dip From (m) To (m) (m) Au g/t
--------------------------------------------------------------------------
CR-11-379 490E -68 225.6 226.1 0.5 3.03
--------------------------------------------------------------------------
CR-11-379 226.8 227.7 0.9 7.03
--------------------------------------------------------------------------
CR-11-379 229.4 230.0 0.6 3.3
--------------------------------------------------------------------------
CR-11-379 268.3 268.8 0.5 3.49
--------------------------------------------------------------------------
CR-11-380 460E -56 194.1 194.7 0.6 0.57
--------------------------------------------------------------------------
CR-11-381 510E -45 61.4 61.9 0.5 5.69
--------------------------------------------------------------------------
CR-11-381 61.9 62.6 0.7 4.33
--------------------------------------------------------------------------
CR-11-382 540E -67 199.0 199.6 0.6 11.75
--------------------------------------------------------------------------
CR-11-383 430E -45 85.9 86.4 0.5 0.14
--------------------------------------------------------------------------
CR-11-384 160E -68 237.6 238.5 0.9 3.0
--------------------------------------------------------------------------
CR-11-385 160E -59 304.0 305.3 1.3 1.62
--------------------------------------------------------------------------
CR-11-386A 160E -58 110.2 110.7 0.5 0.46
--------------------------------------------------------------------------
CR-11-387 270E -62 248.6 249.6 1.0 1.81
--------------------------------------------------------------------------
CR-11-388 270E -61 198.9 199.5 0.6 2.13
--------------------------------------------------------------------------
CR-11-388 199.5 200.2 0.7 8.23
--------------------------------------------------------------------------
CR-11-394 509E -67 205.1 205.9 0.8 4.24
--------------------------------------------------------------------------
Table 1. Significant core sample intervals. (i)True width is
estimated to be close to the core length since drilling was
executed perpendicular to the veins.
"The results from the recent drill program are very encouraging"
stated Leon Methot, Blue Note's Chairman and CEO. "Additional
resources in this area would enhance the economics of an already
robust project. We will continue to track the deposit east along
strike as we await the assays from the western extension and
current resource block."
Drilling is scheduled to resume in early May once all assay
information is available.
The drill program was carried out by Forages La Virole and was
supervised by InnovExplo personnel under Carl Pelletier P.Geo., a
qualified and independent person according to NI 43-101. Gold
values were determined by fire assay and AAS, or fire assay and
gravimetric analyses if over 3 g/t, at the ALS Laboratory Group,
Minerals Division laboratory in Val-d'Or.
John Martin, P. Eng., President and Chief Operating Officer of
Blue Note Mining Inc., is a Qualified Person as defined under NI
43-101 guidelines and has reviewed the technical information
contained in this release.
About Critical Elements Corporation
Critical Elements Corporation is a Canadian mining exploration
company whose objective is to create value for its shareholders by
acquiring promising projects that can be brought into production in
the short term. The Company is focused on the rare metals and rare
earths, particularly tantalum. It has achieved its objective with
the Rose tantalum-lithium project, which is currently at the
advanced exploration stage. Based on the work programs developed
and positive results, Critical Elements Corporation is aiming to
put the Rose project into production rapidly. Rose is one of
several promising projects in this sector, most notably the rare
earths projects in the Rocky Mountains of British Columbia and the
rare earths and tantalum-niobium projects in Quebec. The Company
looks for projects that could increases its tantalum resource and
enable it to become the largest tantalum producer in North
America.
About Blue Note Mining
Blue Note Mining is a mineral exploration and mining company
headquartered in Montreal with properties located in known gold
regions of Canada, including the prolific Val-d'Or region of Quebec
and northern New Brunswick.
Forward-Looking Statements
This news release contains discussion of items that may
constitute forward-looking statements within the meaning of
securities laws that involve risks and uncertainties. Although the
company believes the expectations reflected in such forward-looking
statements are based on reasonable assumptions, it can give no
assurances that its expectations will be achieved. Factors that
could cause actual results to differ materially from expectations
include the effects of general economic conditions, actions by
government authorities, uncertainties associated with contract
negotiations, additional financing requirements, market acceptance
of the Company's products, technical uncertainties associated with
operating an underground mine and competitive pressures. These
factors and others are more fully discussed in Company filings with
Canadian securities regulatory authorities.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: For Critical Elements shareholders: Jean-Sebastien
Lavallee, P.Geo President & CEO 819-354-5146
president@cecorp.ca www.cecorp.ca Relations publiques Paradox 514
341-0408 For Blue Note shareholders: Jean Mayer Executive Vice
President 800-937-3095 x 236 jmayer@bluenotemining.ca
www.bluenotemining.ca
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