|August 12, 2004|
Crowflight's Megatem Airborne Geophysical Survey Outlines Significant Anomalies In The Sudbury Basin
|TORONTO, ONTARIO - CROWFLIGHT MINERALS INC. (TSX Venture Exchange: CML) has identified five excellent geophysical anomalies that exhibit a signature similar to massive sulphide lenses from its recently completed airborne MegaTEM II and Magnetic geophysical survey flown by Fugro Airborne Surveys over the Company's properties in the North Range of the Sudbury Basin, which includes Peter's Roost, Marble Mountain and Copenhagen (see attached map or visit www.crowflight.com). |
The airborne geophysical survey extended along two predominantly east-west trending concentric corridors staked in the first quarter of 2004, the 100% owned Peter's Roost Property, from the Company's Marble Mountain Option Property at the Parkins Offset Dyke in the east, to beyond the Foy Offset Dyke in the west, a distance of over 40 kilometres (refer to the Location Map). The survey also encompassed the Company's Copenhagen Option Property. The survey was designed to identify conductive targets to greater depths than historic airborne surveys, with the likely targets being conductive stringer, semi-massive and/or massive sulphides in association with radial and concentric Offset Dykes related to the Sudbury Igneous Complex.
Several geophysical anomalies detected are considered, by the company's geophysical consultant, John Buckle, P.Geo., to exhibit the expected signature from massive sulphide lenses. Five of these anomalies have Electromagnetic (EM) response characteristics and coincident magnetic features typical of shallow massive sulphide bodies. Mr. Buckle states "The best interpretation for at least five of these responses is massive sulphide lenses. Furthermore, the dimensions of these anomalies suggest the potential for significant sulphide deposits".
"The MegaTEM system was ideal as a first pass survey over the large Crowflight land package that has been historically underexplored. It has identified a number of new, distinct and very strong near surface conductive targets, that likely reflect sulphides" states Jean Lafleur, P. Geol., Crowflight's President and CEO. "The Company has initiated a field program to corroborate the geophysical evidence".
Crowflight - Base Metal Builder
Crowflight is an emerging base metal producer listed on the TSX Venture Exchange. The Company has the option to earn a 100% interest in the Bucko Mine Project in the Thompson Camp, with a historical resource of 19 million tones grading 1% Nickel, potentially economic at current metal prices. The Company also has significant exploration properties focused on nickel-copper-PGE's in the Sudbury Basin, and in the Thompson Nickel Belt. The company currently owns and has under option more than 365 km2 in Ontario and Manitoba, containing six highly prospective properties in Sudbury - AER Kidd, Airport Property (a joint venture with Millstream Mines Ltd.), Marble Mountain Option, Copenhagen Option, Mystery Offset Dyke Option and Peter's Roost - and three in the Thompson Belt - Bucko-Bowden, Resting Lake and Halfway Lake.
The Bucko Mine Project will be the subject of a feasibility study starting this fall. A major drilling program is also under way to identify massive sulphides at the AER-Kidd in Sudbury, located on the Worthington Offset near Inco's Totten Deposit (10.1 million tonnes grading 1.5 % Ni, 2.0 % Cu and 4.8 g/t PGE's), the prospective McIntyre Project and FNX Mining's Victoria project.
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".
FOR FURTHER INFORMATION PLEASE CONTACT:
Crowflight Minerals Inc.
Jean Lafleur, P. Geo.
President and CEO
(416) 861-5900 Cell: (514) 794-3633
(416) 861-8165 (FAX)
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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