|May 24, 2006|
Crowflight Continues to Intersect Nickel Mineralization in Bucko Deposit Resource Expansion Drilling
CROWFLIGHT MINERALS INC. (TSX Venture Exchange: CML) is pleased to announce results from the first three holes of its surface diamond drill program focused on expanding the Indicated Resources in the Bucko Nickel Deposit, Thompson Nickel Belt ("TNB"), Manitoba as part of its enhanced feasibility study activities.
Some of the more significant results from the first three holes of the program were obtained in drill hole BK 06-19A which intersected 23.8 metres of nickel mineralized ultramafic rock including 6.5 metres (21.4 feet) grading 2.03% nickel from 476.7 to 477.4 metres. Additional elevated values of from 5 metres (16.4 feet) grading 1.33% nickel to 4 metres (13.1 feet) grading 1.65% nickel were obtained in an ultramafic sequence measuring 74.4 metres (244 feet) grading 1.0% nickel from 530.3 to 606.8 metres (please refer to Table 1., Summary Assay Results 2006 Phase 1 Drilling and Figure 1., 2006 Phase 1 Drilling - Surface Plan and Longitudinal Section).
The results of this drilling help to confirm the continuity of the nickel-bearing ultramafic and further illustrates the potential to extend the nickel mineralization, intersected in previous resource drilling, at depth. The results from this drilling are separate from two new discoveries, recently announced in the M11A and Apex Zones, located within 3 kilometres of the Bucko Deposit. Crowflight intends to host a web cast later this month to more fully discuss results from the 2006 regional winter exploration program, announce exploration plans for the coming months and provide an update on activities taking place at the Bucko Deposit.
Peter Karelse, Crowflight's Project Development Manager commented on the results from the initial three drill holes, stating: "Drilling in this phase of the program is testing depth extensions of the Deposit in areas within which there has been little previous work. As such, we're encouraged by the amount of contained nickel we're intersecting so far in the program. Some highly prospective areas remain to be tested, particularly in the Hinge Zone to the north and east of the main Bucko mineralization and higher-grade shoots in the South Plunge and North Plunge zones. We are currently drilling these areas and look forward to reporting on results from these holes once available."
Drilling in this phase of the program is testing depth and lateral extensions to the Indicated Resources identified in the Bucko Deposit. The areas to be tested are areas in which there has been little previous historical work and so every hole has the potential to make a significant contribution to the Company's knowledge of the Deposit and the potential to expand the mineral resources. Drilling is planned to consist of a Phase 1 Program totaling approximately 9,000 metres in 10 holes to be followed by Phase 2 drilling consisting of an additional 10,000 metres in 12 holes. These will follow-up results from Phase 1 drilling. Crowflight's objective is to add from 500,000 to 1,000,000 additional tonnes of Indicated Resources through the two phases of drilling as part of its objective to enhance the economics of mining the Bucko Deposit as identified in the feasibility study completed December 2005 (refer to press release dated December 16, 2005). Crowflight expects to report on results from this program throughout the remainder of the second quarter and into the third quarter of this year. Two drill rigs are currently on site conducting this drilling.
Summary Assay Results 2006 Phase 1 Drilling
Bucko Deposit, Thompson Nickel Belt
(1) Combined platinum and palladium values
Qualified Person/Quality Control Procedures
This press release has been prepared and revised by Mr. Peter Karelse, Crowflight's Project Development Manager, a Qualified Person under the NI 43-101 guidelines, based on data provided by Falconbridge Limited. Fire assays are performed at the ALS-Chemex laboratory in Vancouver on all the samples for Gold and PGE's which undergo an ICP-AES finish and Sodium Peroxide Fusion. All other metals undergo an ICP-AES finish. Standards and blanks are submitted with each sample batch.
Crowflight - The Base Metal Builder
Crowflight Minerals Inc. is a Canadian junior mining exploration and development company listed on the TSX Venture Exchange. The company is focused on nickel, copper and Platinum Group Mineral ("PGM") projects in the Thompson Nickel Belt ("TNB") and Sudbury Basin. The company currently owns and/or has under option approximately 600 square kilometres of exploration and development properties in Manitoba and Ontario.
In Manitoba, these properties include: (1) the Bucko Nickel Deposit; (2) an earn-in option with Falconbridge Limited on five highly prospective properties (Bucko/Bowden, Resting Lake, Rock Island Lake, Halfway Lake and Gonlin Lake) on the TNB South Project located within 30 kilometres of the Bucko Deposit; and (3) six additional properties (Burntwood River, Birchtree South, Birchtree North, Airport, Moak Lake and Strong Lake) located 100 kilometres to the north on the TNB North Project.
In the Sudbury Basin, these properties include: (1) the 100% owned AER Kidd Project adjacent to Inco's Totten Deposit (10.1 million tonnes grading 1.5% nickel, 2.0% copper and 4.8 g/t PGM's); (2) the 100% owned Peter's Roost Property, the subject of a recent joint venture agreement with Wallbridge Mining Co. Ltd.; and (3) the Airport Property (a 50/50 joint venture with Millstream Mines Ltd.) located 4 kilometres south, and on-strike, with Falconbridge's Nickel Rim South Deposit (13.2 million tonnes grading 1.7% nickel, 3.5% copper and 4.1 g/t PGM's).
Further information is available on the Company's web site at www.crowflight.com.
Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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