|February 06, 2007|
Crowflight Commences Thompson Nickel Belt Regional Exploration Drilling, Announces Webcast to Discuss 2007 Program and Review 2006 Results
|CROWFLIGHT MINERALS INC. (Crowflight, the Company) (TSX Venture Exchange: CML) is pleased to announce that it has begun its Thompson Nickel Belt (TNB) regional exploration program. The program will employ three diamond drill rigs, which have all arrived on site and begun drilling off of ice pads that have been under construction since December 2006. |
Drilling is planned to follow-up on two nickel discoveries made last winter at the M11A and Apex Zones in the TNB South Project Area, located only 3 kilometres from the Bucko Deposit (refer to press releases dated March 27, 2006 and April 27, 2006) and test additional high priority targets in both the TNB South Project Area and the TNB North Project Area. The TNB South Project Area lies approximately 100 kilomtres south of Thompson, Manitoba and the TNB North Project Area lies immediately adjacent to CVRD-Inco's Thompson and Birchtree mines in Thompson.
Greg Collins, Vice President Exploration of Crowflight commented on the commencement of the 2007 exploration program stating: "We're excited to begin drill testing the many attractive targets we have throughout the belt. We know there's no shortage of nickel in the Thompson Nickel Belt. Our objectives are to continue to test these targets and in the process refine our knowledge and the efficiency in which we zero in on potential concentrations of nickel that can support new mines. The abundance of intriguing nickel intersections from past drilling combined with attractive geophysical signatures evident in recently conducted geophysical surveys create a number of compelling targets to be tested this winter."
Crowflight plans to drill approximately 10,000 metres in 20 diamond drill holes during the winter 2007 program testing numerous targets in both the TNB South and TNB North Project Areas. The Company is employing three diamond drill rigs in the program. Results from this work will be announced once available. It is expected that Crowflight will be in a position to announce initial results from the program as early as March and follow-up on results through until May 2007.
Conference Call Details
The Company is hosting a webcast -- conference call on Thursday, February 8, 2007, to provide an overview of recent and historical results of regional exploration and its plans for the 2007 winter exploration program on the Thompson Nickel Belt properties, Manitoba. Webcast and conference call details are as follows.
Date: Thursday, February 8, 2007
Time: 10:30 AM ET
Available on Crowflight Website: http://www.crowflight.com.
There will be a question and answer period following the webcast, call-in details include:
Live Conference Access information:
Local and International Access:416-695-6130
Toll-Free Access: 1-800-769-8320
Instant Replay Access information:
Local Access: 416-695-5275
Toll-Free Access: 1-888-509-0081
Expiry Date: February 15th, 2007
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 Lake Nickel Deposit; (2) an earn-in option with Xstrata Nickel 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; (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; and (4) a 100% interest in the Clarke Lake property comprising approximately 100 square kilometres of recently staked ground south and adjacent to the TNB South Project Area.
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, being explored under a 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).
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 Company cautions investors that the projections for increases to the Indicated Resources are based on Inferred Resources. There is no certainty that these projections will be added to the Indicated Resources or that they will be economically viable.
For further information please contact:
President and CEO
Tel: (416) 861 - 5900
Fax: (416) 861 - 8165
Tel: (604) 684 - 4743 ext 230
Toll Free: 1 - 866 - 684 - 4209
You can view the Next News Release item: Thu Feb 15, 2007, Crowflight Receives Confirmation of Province of Manitoba's Intent to Permit Bucko Lake Nickel Deposit
You can view the Previous News Release item: Thu Feb 1, 2007, Crowflight Completes Bankable Feasibility Study On Bucko Lake Nickel Deposit, Study Demonstrates Potential For 118% Internal Rate Of Return At Us$8.00/Pound Nickel
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