|March 23, 2004|
Crowflight Updates Exploration Activities in the Sudbury Basin and Announces Conference Call on Wednesday, March 24, 2004, at 10 A.M. E.S.T.
|TORONTO, ONTARIO - CROWFLIGHT MINERALS INC. (TSXV:CML) has scheduled a 10,000 metre Phase 1 diamond drilling program at the 100% owned AER-Kidd Property. Drilling is following up a series of near surface and deep geophysical anomalies believed to be in part semi-massive and massive sulphide mineralization similar to Inco's adjacent Totten deposit (mineral resource of 10 million tonnes grading 1.4% Ni, 1.9% Cu and 4.7 g/t PGE's). Crowflight intersected its first 4.2 metre true width semi-massive to massive sulphide intersection in Hole #3 (DDH-WO-03AW1), as outlined in the Press Release dated February 8, 2004, confirming the potential for a deposit similar to Totten. |
CONFERENCE CALL DETAILS: The call will take place on Wednesday March 24, 2004 at 10:00 am EST and is expected to last for approximately 30 minutes. The call will include a presentation by management, followed by a question and answer period. Interested parties are invited to participate in the meeting by calling one of the following telephone numbers: Date : Wednesday March 24, 2004 Time : 10:00 am EST Local callers: 416-405-9310 North American callers: 1-877-211-7911 International callers: +1-416-405-9310
An archive recording of the call will be available following completion of the call on the Crowflight website at www.crowflight.com.
The management and Board of Crowflight is confident that the AER-Kidd property has the potential to host significant mineralization similar to Inco's Totten Deposit. Geophysics completed at AER-Kidd indicates that the host mineralization is likely at depths from 300 metres to minimum 1500 metres below surface. The Company has a 10 hole program in progress with three drills at the site. In addition, each hole is wedged several times to maximize value from each intersection. One of the objectives of this program is to intersect Quartz Diorite (QD) of the Worthington Offset, which hosts the mineralization. The semi-massive and massive sulphide mineralization exists within a "halo" of lower grade nickel-copper mineralization with the QD.
While the drilling has progressed well, Crowflight has encountered several technical difficulties associated with deep drilling. In order to ensure the program is progressing accurately and on target, the drilling often involves wedging and re-drilling to mitigate hole deviation. In addition, the targets are intersected with barren Gabbro dykes, again consistent with the experience along the Worthington Offset, which also requires frequent in-hole geophysical surveys and re-wedging of the holes to bypass these barren dykes.
Specific highlights of the drilling results to date are:
- The first drill hole (DDH-WO3-01) was completed and results were announced in the Press Release dated December 5, 2003. The hole intersected the QD and confirmed the existence of the "halo" with minor copper-nickel mineralization. Downhole Transient Electromagnetic (TEM) indicated a strong anomaly in proximity, towards the Audiofrequency Magnetotelluric Anomaly (AMT) "D", being drilled with Hole #2 (DDH-WO3-02).
- Hole #2 (DDH-WO3-02) has not yet reached its target (a significant TEM anomaly at a 1 kilometre depth), including wedged holes DDH-WO3-02AW1 and W2. Major technical difficulties with hole deviation and wedge emplacement have blocked the latest attempt to reach the target. Another attempt is being made via a longitudinal drill hole in the QD (DDH-WO3-06). Management expects the hole to be completed within the next 4 to 5 weeks, barring any additional difficulties.
- Hole #3 (DDH-WO3-03AW1) was completed in late January 2004 and indicated that there is semi-massive and massive sulphides similar to the Totten deposit with potentially economic grades (refer to the Press Release dated February 8, 2004). Crowflight has conducted additional drilling in the vicinity (DDH-WO3-03AW1, W2 and W4) to determine the extent of the mineralization, but was blocked out by barren Gabbro dykes. The drill is undergoing major repairs and is expected to be replaced by another rig specifically made for deep drilling within 4 to 5 weeks.
- DDH-WO3-04 and two wedged holes (DDH-WO3-04W1 and W2) were drilled to the planned depth but intersected "halo" sulphides and barren Gabbro dykes. However, there is a significant off-hole TEM anomaly some 50 to 60 metres east of the most recent wedged hole (DDH-WO3-04W2), which will be drill tested in the coming weeks.
- Crowflight is also drilling a shallow AMT anomaly under the Rosen Underground Workings, which was mined prior to 1968. Hole #5 (DDH-WO3-05) is currently at a depth of 500 metres of the planned 625 metre drill hole. This hole is being drilled longitudinally in the QD, and it may intersect several sulphide lenses. This hole is expected to be completed in early April.
Further drilling will take place based on results from the current program.
CROWFLIGHT CONDUCTS GEOPHYSICAL SURVEY OF POSSIBLE EXTENSION OF THE AER-KIDD MINERALIZATION BELOW PERCH LAKE
A ground AMT geophysical survey by Phoenix Geophysics Limited was completed over the north-east portion of the property, to cover a 600 metre length of the sulphide bearing Worthington Offset that was not previously surveyed. The AMT method is used to define stringer, semi-massive to massive sulphides in near surface to depths of 1,000 metres. The AMT coverage now covers the entire Worthington Offset on the AER-Kidd Property, a distance of 1.8 km, from Inco's Totten Property to the west, to its McIntyre Property, to the east. Results from the survey will be available by the end of March and anomalies will be drilled as part of the Phase 1 program.
"We are optimistic that there is an additional AMT anomaly under Perch Lake, which could increase the potential of the property," said Jean Lafleur, President of Crowflight.
Crowflight signed the geophysical contract with FUGRO Airborne Surveys for the upcoming airborne EM survey, starting in April 2004, using the Megatem II system on the Airport Joint Venture Property (50% Crowflight Minerals Inc.; 50% Millstream Mines Ltd.) and the Marble Mountain Property Option (Crowflight has the option to acquire 100% of the property). Further follow-up ground geophysical work is planned after the airborne survey, followed by diamond drilling of significant anomalies.
The Airport Joint Venture Property is located on the south-east rim of the Basin about 4 km south-east of Falconbridge's Nickel Rim South Cu-Ni-Co-PGE's Deposit containing 8 million tonnes grading 1.7% Ni, 4.5 % Cu and 5 g/t Pt+Pd. The Marble Mountain Property Option is located 30 km north-east of Sudbury in Parkin Township, and hosts quartz diorites and sulphide mineralization that Crowflight believes is a previously unknown extension of the Parkin Offset. The Milnet Mine, a previous Ni-Cu-PGE producer, sits adjacent to the property. Surface grab samples from the property reveal grades up to 16% Cu, 0.06% Ni, 19 g/t Pt, 9 g/t Pd, 15 g/t Au and 377 g/t Ag.
COMMENTS BY THE CHAIRMAN
"The Board and management of Crowflight is committed to building a strong presence in the Sudbury Camp and exploring the AER-Kidd property" stated Gerry McCarvill, Chairman. "We believe the AER-Kidd is undervalued and has the potential to become one of the most exciting nickel / PGM projects in Canada."
Mr. McCarvill continued "This property has the ability to host significant mineralization similar to the Totten Deposit and its potential at depth and on strike is tremendous. The Company has a strong balance sheet with over $5 million in cash, no debt, a strong management team headed by an experienced geologist, Jean Lafleur, with support from a highly technical Board that includes Keith Minty, P. Eng., Dr. Bill Pearson, P. Geo. and Stan Bharti, P.Eng."
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, Geol
President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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