Critical Elements Corporation : Final Assays from Croinor Phase 1 Drilling Confirm Widespread Reserve Block Extensions
May 18 2011 - 10:45AM
Marketwired
Critical Elements Corporation (TSX VENTURE: CRE)(OTCQX:
CRECF)(FRANKFURT: F12) ("Critical Elements") and Blue Note Mining
Inc. (TSX VENTURE: BNT) ("Blue Note") are pleased to announce
results from the final 12 holes of the first phase 2011 diamond
drill program 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 reserve block and at
depth (see press release of December 6, 2010). This first phase of
the Croinor drill program included 7,185 meters drilled in 23
holes.
All assays have now been received for holes drilled to test the
host diorite sill to the west of the ore reserves reported in the
July, 2010 43-101 compliant prefeasibility study. The assays
confirm the potential to significantly increase the resource along
strike to the west, and indicate the presence of gold
mineralization near the footwall contact between the diorite dyke
and volcanics. This is significant in that much of the historical
drilling focused on testing the diorite dyke closer to the hanging
wall without drilling through to the footwall of the dyke.
The results obtained for the 2011 drill program to date clearly
demonstrate the potential to increase the Croinor mineral resource
to the east of the current reserve (see press release dated 26
April 2011), within the current reserve block and to the west of
the current reserves. The results also indicate the potential to
increase the Croinor mineral resources at depth
(http://bluenotemining.ca/longitudinal.html).
There is also a strong indication of gold mineralization at
depth in the form of multiple lenses at depth. Intersections from
holes drilled on Section 750W include 21.70 g/t gold over 1.0 meter
and 28.15 g/t gold over 1.0 meter in CR-11-395, 9.62 g/t gold over
2.5 meters including 17.83 g/t gold over 0.8 meter in CR-11-398 and
44.04 g/t gold over 0.5 meter in CR-11-400. The drill holes on
Section 750W are 50 meters west of planned development in the
current ore reserves. Step-out drilling on Section 880W intersected
4.04 g/t gold over 1.3 meters that included 6.88 g/t gold over 0.5
meter, indicating continuity of gold mineralization further to the
west. Core analysis of the significant mineralized zones in the
western extension of the Croinor deposit are presented in Table
1.
Table 1 - Mineralized Zones - Croinor Western Extension
----------------------------------------------------------------------------
Length
Hole no. Section Dip From (m) To (m) (m)(i) Au g/t
----------------------------------------------------------------------------
CR-11-395 750W -70 259.7 260.7 1 21.70
----------------------------------------------------------------------------
285.0 285.5 0.5 6.17
----------------------------------------------------------------------------
310.0 311.0 1.0 28.15
----------------------------------------------------------------------------
CR-11-397 750W -69 232.6 233.6 1.0 0.74
----------------------------------------------------------------------------
CR-11-398 750W -68 158.4 159.2 0.8 1.45
----------------------------------------------------------------------------
159.2 159.7 0.5 15.03
----------------------------------------------------------------------------
159.7 160.4 0.7 2.73
----------------------------------------------------------------------------
160.4 160.9 0.5 0.73
----------------------------------------------------------------------------
160.9 161.7 0.8 17.83
----------------------------------------------------------------------------
CR-11-399 880W -68 168.4 169.2 0.8 0.79
----------------------------------------------------------------------------
CR-11-400 880W -72 263.5 264.0 0.5 44.04
----------------------------------------------------------------------------
314.8 315.5 0.7 1.94
----------------------------------------------------------------------------
339.2 340.3 1.1 2.79
----------------------------------------------------------------------------
359.8 360.9 1.1 3.87
----------------------------------------------------------------------------
CR-11-401 880W -79 303.6 304.1 0.5 6.88
----------------------------------------------------------------------------
304.1 304.9 0.8 2.27
----------------------------------------------------------------------------
321.7 322.7 1.0 1.89
----------------------------------------------------------------------------
335.3 335.8 0.5 1.85
----------------------------------------------------------------------------
340.3 342.9 2.6 1.58
----------------------------------------------------------------------------
(i) True width is estimated to be close to the core length since drilling
was executed perpendicular to the veins.
Assays received for drill holes completed between sections 200E
and 390W to test extensions of ore lenses proximal to the current
ore reserves, returned up to 10.11 g/t gold over 0.9 meter in
CR-11-390 and 6.35 g/t gold over 1.2 meters in CR-11-393. Core
analyses of the significant mineralized zones within the current
reserve block identified during this phase of the 2011 drill
program are presented in Table 2.
Table 2 - Mineralized Zones - Croinor Reserve Block
----------------------------------------------------------------------------
Length
Hole no. Section Dip From (m) To (m) (m)(i) Au g/t
----------------------------------------------------------------------------
CR-11-389 320W -62 279.5 280.5 1.0 2.01
----------------------------------------------------------------------------
CR-11-390 200E -61 153.8 154.7 0.9 10.11
----------------------------------------------------------------------------
175.5 176.6 1.1 3.69
----------------------------------------------------------------------------
227.9 228.4 0.5 1.07
----------------------------------------------------------------------------
CR-11-391 390W -70 136.0 136.6 0.6 1.73
----------------------------------------------------------------------------
205.3 205.8 0.5 1.38
----------------------------------------------------------------------------
CR-11-392A 240W -65 297.0 299.0 2.0 4.24
----------------------------------------------------------------------------
319.0 320.3 1.3 1.19
----------------------------------------------------------------------------
CR-11-393 160W -70 180.2 181.1 0.9 1.38
----------------------------------------------------------------------------
181.1 181.6 0.5 5.73
----------------------------------------------------------------------------
245.8 247.0 1.2 6.35
----------------------------------------------------------------------------
247.0 248.1 1.1 0.69
----------------------------------------------------------------------------
248.1 249.0 0.9 4.00
----------------------------------------------------------------------------
CR-11-396 540E -57 188.4 189.5 1.1 0.22
----------------------------------------------------------------------------
(i)True width is estimated to be close to the core length since drilling was
executed perpendicular to the veins.
Drilling has resumed with 2,000 meters planned in the next phase
to follow up the western extension of the Croinor deposit.
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 as defined under NI 43-101
guidelines. 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.
Arthur Hamilton, P.Geo., Exploration Manager for 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 is actively developing its 100%-owned Rose
lithium-tantalum flagship project located in Quebec. The project
hosts a current Indicated resource of 11.4 million tonnes of 1.34%
Li2O and 165 ppm Ta2O5 and Inferred resource of 2.1 million tonnes
of 1.27% Li2O and 138 ppm Ta2O5.
Critical Elements has commissioned a prefeasibility study for
the project from Genivar, one of the largest independent
engineering firms in Canada. Genivar is also doing an environmental
study, and Acme Metallurgical Ltd. of Vancouver is carrying out
project metallurgy.
Critical Elements' portfolio also includes rare-earth and
tantalum-niobium projects in the Rocky Mountains of British
Columbia and in Quebec, as well as a 50% interest in the Croinor
project, which is located in Quebec and contains a measured and
indicated resource of 814,228 tonnes at 9.11 g/t Au, for 238,414
ounces of gold at a 5 g/t cut-off.
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: Critical Elements shareholders, please contact:
Jean-Sebastien Lavallee, P.Geo President & CEO 819-354-5146
president@cecorp.ca www.cecorp.ca Relations publiques Paradox 514
341-0408 Blue Note shareholders, please contact: Jean Mayer
Executive Vice President (800) 937-3095 x 236
jmayer@bluenotemining.ca www.bluenotemining.ca
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