Critical Elements Corporation: Blue Note Extends High Grade Gold West of Croinor and Hits Gold Mineralization Down to 650m at...
August 25 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 of the
recent Croinor diamond drill program which clearly demonstrate that
Croinor's gold mineralization extends substantially to the west and
at a depth of at least 654m while still open in all directions.
"We are very excited with these results as they indicate that
Croinor's current reserve which is within 250m from surface may
very well extend significantly both along strike and at depth",
stated Leon Methot, President & CEO.
Six of the seven holes from the 2,765 meters drill program were
drilled between sections 650W and 810W to test the continuity of
significant intersections from the winter drill program that
included 21.70 g/t gold over 1.0 meter and 28.15 g/t gold over 1.0
meter in CR-11-395 on Section 750W (see press release dated May 18,
2011). Several intersections at a vertical depth varying from 200
to 285 meters, are interpreted as west extensions of mineralized
zones in the current ore reserve.
New deeper gold mineralized zones were also identified and it is
anticipated that additional resource will be developed to the west
of the current ore reserves based on the positive results of the
2010-2011 diamond drill programs (Figure 1:
http://bluenotemining.ca/images/BNM_Longitudinale_map.jpg)
Significant gold mineralized intersections from holes CR-11-402
to CR-11-407 are shown in Table 1.
----------------------------------------------------------------------
Hole no. Section Dip From To (m) Core Length(i) Au (g/t)
----------------------------------------------------------------------
CR-11-402 690-W -65 333.2 333.7 0.5 5.26
----------------------------------------------------------------------
CR-11-402 346.3 347.3 1.0 0.54
----------------------------------------------------------------------
CR-11-402 352.9 353.8 0.9 2.64
----------------------------------------------------------------------
CR-11-403 650-W -70 318.4 318.9 0.5 1.78
----------------------------------------------------------------------
CR-11-403 320.9 322.9 2.0 6.66
----------------------------------------------------------------------
Includes 321.9 322.9 1.0 11.94
----------------------------------------------------------------------
CR-11-403 359.7 360.7 1.0 5.74
----------------------------------------------------------------------
Includes 359.7 360.2 0.5 11.20
----------------------------------------------------------------------
CR-11-403 360.7 361.2 0.5 1.48
----------------------------------------------------------------------
CR-11-403 387.5 388.0 0.5 1.90
----------------------------------------------------------------------
CR-11-403 389.5 390.7 1.2 6.66
----------------------------------------------------------------------
Includes 390.0 390.7 0.7 11.40
----------------------------------------------------------------------
CR-11-404 650-W -65 234.3 239.3 5.0 3.74
----------------------------------------------------------------------
Includes 234.3 235.0 0.7 17.15
----------------------------------------------------------------------
CR-11-404 240.8 241.3 0.5 1.04
----------------------------------------------------------------------
CR-11-404 242.8 243.3 0.5 2.59
----------------------------------------------------------------------
CR-11-404 262.5 264.5 2.0 3.92
----------------------------------------------------------------------
Includes 262.5 263.0 0.5 6.77
----------------------------------------------------------------------
And 264.0 264.5 0.5 8.04
----------------------------------------------------------------------
CR-11-405 690-W -65 235.6 236.6 1.0 1.14
----------------------------------------------------------------------
CR-11-405 236.6 238.2 1.6 11.15
----------------------------------------------------------------------
Includes 236.6 237.6 1.0 14.59
----------------------------------------------------------------------
CR-11-405 241.5 243.1 1.6 3.18
----------------------------------------------------------------------
Includes 241.5 242.0 0.5 6.85
----------------------------------------------------------------------
CR-11-405 251.9 254.5 2.6 4.88
----------------------------------------------------------------------
Includes 252.4 252.9 0.5 21.05
----------------------------------------------------------------------
CR-11-406 810-W -65 146.6 147.2 0.6 0.67
----------------------------------------------------------------------
CR-11-406 150.8 151.6 0.8 0.82
----------------------------------------------------------------------
CR-11-406 183.5 184.1 0.6 3.19
----------------------------------------------------------------------
CR-11-407 810-W -65 252.0 252.6 0.6 7.20
----------------------------------------------------------------------
CR-11-407 265.2 266.1 0.9 1.89
----------------------------------------------------------------------
(i)Based on the current interpretation, holes CR-11-402 to
CR-11-407 were drilled approximately perpendicular to the
mineralized zones, and core length intervals in these holes are
considered to closely approximate true widths. However, more
detailed drilling is required to accurately determine true
widths.
Mineralization at Depth - Hole CR-11-408
At Croinor, diamond drill holes are typically drilled from north
to south and oriented to cut the mineralized zones at a high to
perpendicular angle. However, hole CR-11-408 was drilled from south
to north to follow the diorite sill at depth to investigate new
potential mineralized zones. The hole was drilled to 751 meters
(660 meters vertical). Numerous mineralized zones were encountered
throughout the hole from a vertical depth of 51 meters through 654
meters.
Results from hole CR-11-408 clearly demonstrate that Croinor's
type and density of mineralization extend to 654m at depth and is
still open in all directions.
Significant gold mineralized intersections from hole CR-11-408
are shown in Table 2.
----------------------------------------------------------------------
Hole no. Section Dip From To (m) Core Length(i) Au (g/t)
----------------------------------------------------------------------
CR-11-408 750-W -60 58.0 59.0 1.0 1.52
----------------------------------------------------------------------
CR-11-408 90.0 96.6 6.6 0.89
----------------------------------------------------------------------
Includes 90.0 90.6 0.6 4.50
----------------------------------------------------------------------
CR-11-408 108.0 109.5 1.5 7.57
----------------------------------------------------------------------
CR-11-408 108.0 109.0 1.0 9.70
----------------------------------------------------------------------
CR-11-408 121.4 121.9 0.5 2.62
----------------------------------------------------------------------
CR-11-408 141.5 142.1 0.6 1.43
----------------------------------------------------------------------
CR-11-408 147.9 161.7 13.8 1.01
----------------------------------------------------------------------
Includes 148.4 149.4 1.0 3.54
----------------------------------------------------------------------
And 158.7 159.4 0.7 2.24
----------------------------------------------------------------------
CR-11-408 213.8 215.0 1.2 5.64
----------------------------------------------------------------------
CR-11-408 228.0 230.2 2.2 1.38
----------------------------------------------------------------------
Includes 229.4 230.2 0.8 2.54
----------------------------------------------------------------------
CR-11-408 290.7 291.4 0.7 1.40
----------------------------------------------------------------------
CR-11-408 345.8 350.1 4.3 2.65
----------------------------------------------------------------------
Includes 345.8 347.1 1.3 6.21
----------------------------------------------------------------------
Includes 346.4 347.1 0.7 11.03
----------------------------------------------------------------------
CR-11-408 355.4 355.9 0.5 1.27
----------------------------------------------------------------------
CR-11-408 357.4 366.0 8.6 2.48
----------------------------------------------------------------------
Includes 357.4 359.6 2.2 5.55
----------------------------------------------------------------------
And 362.2 363.2 1.0 5.52
----------------------------------------------------------------------
CR-11-408 365.1 366.0 0.9 2.81
----------------------------------------------------------------------
CR-11-408 372.4 375.8 3.4 1.29
----------------------------------------------------------------------
Includes 372.4 373.3 0.9 2.64
----------------------------------------------------------------------
CR-11-408 404.9 405.4 0.5 1.40
----------------------------------------------------------------------
CR-11-408 552.2 554.4 2.2 2.57
----------------------------------------------------------------------
Includes 553.8 554.4 0.6 7.48
----------------------------------------------------------------------
CR-11-408 683.2 683.7 0.5 1.95
----------------------------------------------------------------------
CR-11-408 692.2 692.7 0.5 2.45
----------------------------------------------------------------------
CR-11-408 707.3 713.0 5.7 0.60
----------------------------------------------------------------------
Includes 710.2 710.8 0.6 2.52
----------------------------------------------------------------------
CR-11-408 732.8 733.5 0.7 0.50
----------------------------------------------------------------------
CR-11-408 741.1 742.3 1.2 0.50
----------------------------------------------------------------------
CR-11-408 743.6 744.1 0.5 0.84
----------------------------------------------------------------------
(i)True widths of the mineralized zones in CR-11-408 could not
be determined due to insufficient information.
A follow-up drill program is planned based on these latest
results.
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 new NI 43-101 compliant Indicated resource of 26.5
million tonnes of 1.30% Li2O Eq. or 0.98% Li2O and 163 ppm Ta2O5
and Inferred resource of 10.7 million tonnes of 1.14% Li2O Eq. or
0.86% Li2O and 145 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 hosts a current NI 43-101
compliant 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 Paradox Public Relations 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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