|May 20, 2008|
Crowflight's Final Results From Winter Exploration Drilling Further Indicate Potential To Expand Bucko Project And Satellite Deposits
|CROWFLIGHT MINERALS INC. (Crowflight, the Company) (TSX Venture Exchange: CML) today announced final assay results from its 2008 winter exploration drilling program in the Thompson Nickel Belt, Manitoba. Results include hole HW08-11 drilled at Halfway Lake that intersected 15.12 metres (49.6 feet) grading 1.24% nickel, as well as other encouraging assay results from the Halfway Lake and Bucko North target areas. |
A key objective of the 2008 winter exploration program was to identify additional sources of potential mill feed proximal to the Company's Bucko Lake Nickel Project (Bucko), located outside Wabowden, Manitoba. The program was successful in identifying new occurrences of mineralization at Halfway Lake, the M11A North Zone and the Bucko North target. These areas are located 20 kilometres, 5 kilometres, and 400 metres respectively from the mill at Bucko, which is scheduled to commence production by the third quarter of 2008.
In summary, 21 holes for a total of 8,200 metres were completed during the winter program. Please refer to Figure 1 for a map depicting the drilling locations and Table 1 for a summary of new and previously-released assays for the 2008 winter program.
Winter 2008 Exploration Program -- Summary of Assay Results
(1) Combined platinum and palladium values
(2) Previously reported results -- see press releases dated February 29, 2008 and April 21, 2008
Intersection intervals reported are core lengths; actual true widths are unknown at this time but are generally 70 to 80% of core length. Once known, true widths are calculated for each intersection. These could vary somewhat from time to time as the zones are re-interpreted thereby altering the geometry.
Greg Collins, Vice President of Exploration for Crowflight Minerals, commented on the results of the winter program stating: "The results from the winter exploration program continue to demonstrate the potential of our 700 square kilometre land package in the Thompson Nickel Belt. Drilling at the M11A Zone resulted in the discovery of a new high grade lens, less than 5 kilometres north of milling operations at Bucko. At Halfway Lake, drilling confirmed extensions that we expect to enhance the grade and tonnage of the current resource. Drilling on the Bucko Lake North intrusion has confirmed the presence of higher grade nickel sulphide mineralization at depth less than 400 metres north from the planned underground workings at Bucko. These activities are positive developments for our Company in that they further expand our options for growth at our soon-to-be producing Bucko mine in Wabowden."
Discussion of Results
At Halfway Lake, 11 holes totaling 4,529 metres were completed. Highlights include hole HW08-02, intersecting 13.03m grading 1.58% nickel (previously released) and hole HW08-11 which intersected 15.12m grading 1.24% nickel, including 7.14m grading 1.57% nickel. Drilling has confirmed extensions to the previously identified resource that are expected to enhance the grade and tonnage of the known resource.
Near the M11A target, three holes totaling 1,315 metres were completed. Highlights include hole M08-03, a new high grade lens located beneath the known M11A North resource which intersected 26.7m grading 1.30% nickel including 5.76m grading 3.06% nickel (previously released). Holes M08-01 and M08-02 targeted other portions of the M11A intrusion located more than 500 metres south of the mineralization intersected in M08-03.
Drilling on the Bucko North target included the completion of four holes totaling 1,638 metres. Two holes investigated the near surface potential of the intrusion for condemnation purposes and have confirmed that there is no open pit potential beneath the site of the future tailings storage area. Deeper drilling targeting areas 300 metres below surface confirmed the presence of higher grade nickel sulphide mineralization first identified by drilling in 2007. Hole BX07-01 intersected 7.5 metres grading 0.78% nickel including 1.5m grading 2.19% nickel (previously released). Highlights from hole BX08-04 include narrow intervals of nickel sulphide mineralization containing up to 2.31% nickel. The results of the 2008 program indicate that future work on this target located 400 metres north of planned workings at Bucko may be best achieved once underground access from the Bucko Mine is available.
Near the Apex target, three holes for 718 metres were completed. The holes were drilled to test exploration targets located more than 500m north and south of the previously defined resource at Apex. One hole (AP08-02) was lost in casing and did not reach its target objective. Holes AP08-01 and AP08-03 intersected magnetic gneiss, explaining the targeted geophysical anomaly. The resource potential at Apex zone remains open for expansion at depth.
Results from this program will be used to generate updated resource calculations at Halfway Lake and M11A North and be used to further refine the focus of resource expansion drilling near Bucko.
2008 Summer Drilling Program at Manibridge
Crowflight and Pure Nickel plan to commence drilling nickel exploration targets identified close to the past-producing Manibridge Mine in early June. Results from this program will be released through the summer and early fall of 2008 as they become available.
Underground Drilling at Bucko
Crowflight continues to conduct underground drilling from the 1,000 foot level of the Bucko Lake Nickel Project, with the intent of obtaining further geotechnical information on the deposit and upgrading the mineral resource and reserve estimates. It is expected that results from this program will be released through the late spring and fall of 2008 as they become available.
Qualified Person/Quality Control Procedures
This press release has been prepared and reviewed by Mr. Greg Collins, P.Geo (APGO/APEGM), who is the Vice President Exploration of the Company and a Qualified Person under the National Instrument 43-101 guidelines. Fire assays were performed at the ALS-Chemex laboratory in Vancouver on all the samples for Gold and PGEs which undergo an ICP-AES finish and Sodium Peroxide Fusion. All other metals undergo an ICP-AES finish at the ALS-Chemex laboratory in Vancouver. Standards and blanks are submitted with each sample batch.
Crowflight Minerals -- Canada's Next Nickel Producer
Crowflight Minerals Inc. (TSX-V: CML) is a Canadian junior mining exploration and development company focused on nickel, copper and Platinum Group Mineral (PGM) projects in the Thompson Nickel Belt and Sudbury Basin. The Company currently owns and/or has under option approximately 800 square kilometres of exploration and development properties in Manitoba and Ontario.
Crowflight's priority is to bring the fully-funded Bucko Lake Nickel Project located near Wabowden, Manitoba into production by the third quarter of 2008.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding mineralization projections; mineral reserve and resource estimates; scheduled exploration programs and costs thereof; estimated capital and operating costs; expected production timeline; requirements for additional financing. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, ability to realize mineral reserve and resource estimates; ability to obtain financing; metal prices, competition, risks inherent in the mining industry, including risks relating to mine development, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Further information is available on the Company's website at www.crowflight.com or contact:
President and CEO
Tel: (416) 861-2964
Manager, Investor and Public Relations
Tel: (416) 861-5803
Figure 1. 2008 Winter Exploration Program Location Map
Click to enlarge
You can view the Next News Release item: Mon May 26, 2008, Crowflight Appoints Anna Ladd as CFO
You can view the Previous News Release item: Thu May 8, 2008, Crowflight Provides Bucko Lake Nickel Project Update
You can return to the main News Release page, or press the Back button on your browser.