|January 22, 2009|
Crowflight Intersects 9.56 Metres Of 7.87% Nickel; Commences Phase 2 Delineation Program At Bucko
|CROWFLIGHT MINERALS INC. (the "Company") (TSX: CML) is pleased to provide an update on underground diamond drilling results from its wholly-owned Bucko Lake Nickel Mine (Bucko) located in the Thompson Nickel Belt near Wabowden, Manitoba. |
The first planned phase of underground delineation drilling has been completed at Bucko. Assay results from the remaining 20 holes drilled in 2008 have been received and are reported below. Drilling results from the program have been used to confirm reserves to support commercial production at Bucko into 2010.
Crowflight's VP Exploration, Greg Collins commented, "Assay results from the completed Phase 1 program have returned elevated nickel grades and have confirmed areas of planned production at Bucko. Results from the program are consistent with the mine design tonnage and grade expectations. In addition, a vein of mineralization containing nickel values above the modeled reserve grade has been outlined in an area slated for production during the first quarter of 2009."
Some highlights from the remaining assay results received include:
Results from the Phase 1 delineation program have been used to update the mineral inventory at Bucko, the results of which are expected to be announced after they have been independently reviewed and determined to be compliant with National Instrument 43-101 disclosure regulations.
The Phase 2 underground delineation and exploration program for 2009 is now in progress at Bucko, with one underground drill stationed on the 1,000 foot mining level. To date in 2009, a total of 1,415 metres in 6 holes have been completed, while in 2008, 13,658 metres for a total of 80 holes were completed.
Table 1 provides a summary of assay interval highlights from the recently-received assayed holes completed in 2008. Please see the Company's press releases dated June 25, 2008 and October 1, 2008 for details on previously-announced Bucko assay results. Figure 1 depicts a longitudinal section of the deposit illustrating the location of highlighted drill results and holes completed as part of the Phase 1 program.
Table 1. Latest Assay Results from 1,000 Foot Level Delineation Program at Bucko
Intersection intervals reported are core lengths; actual true widths range between 80% and 100% of core length.
Qualified Person/Quality Control Procedures
This press release has been prepared and reviewed by Mr. Greg Collins, P.Geo (APGO/APEGM), a Qualified Person under the National Instrument 43-101 guidelines. All assays were performed at the ALS-Chemex laboratory in Vancouver and undergo an ICP-AES finish and Sodium Peroxide Fusion. Standards and blanks are submitted with each sample batch.
Crowflight Minerals -- Canada's Newest Nickel Producer
Crowflight Minerals Inc. (TSX: CML) is a Canadian junior mining company that is producing nickel at the Bucko Lake Nickel Mine near Wabowden, Manitoba. Full commercial production is expected to be achieved at Bucko in early 2009 and preparations are currently being made for the first shipment of nickel concentrate from Canada's newest nickel mine. Crowflight has hedged 2.97 million pounds, or approximately 30%, of its 2009 production at an average realized price of US$7.74 per pound. The Company is also focused on nickel, copper and Platinum Group Mineral (PGM) projects in the Thompson Nickel Belt and Sudbury Basin.
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 proposed exploration programs and expected results, planned production, timing and results of updated mineral resource estimates, and timing for first delivery of concentrate. Estimates regarding future exploration and production are based on management knowledge and experience, current operating results and analysis by third parties. 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, third party risks, production risks, metal prices, competition, risks inherent in the mining industry, 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.
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. Assay Results from 1,000 Foot Level Delineation Program at Bucko
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