Crowflight Intersects Additional Mineralization at M11A Deposit, 4km North of Bucko Lake
February 4,
2010 - Crowflight Minerals Inc. (“Crowflight” or the “Company”) (TSX: CML) announced today initial assay
results from a program of exploration and delineation drilling completed in December 2009 at the
Company’s M11A North project area. The M11A North deposit is located 4 kilometres north of the Bucko
Lake Nickel Mine and milling operation located near the town of Wabowden, Manitoba. Highlights from
drilling results received to date include 8.15 metres grading 1.90% nickel in hole M09-17 as well as
several other intervals of potentially mineable widths and grades. Assay results received from the first
13 of 18 holes completed during the program are presented below in Table 1.
Table 1.
Fall 2009
Exploration Program at M11A North – Summary of Assay Results
To view the entire news, including
tables and maps, please click the
link:
http://www.irw-press.com/dokumente/Crowflight_040210_English.pdf
The M11A North deposit was
discovered by Crowflight and its partner Xstrata Nickel in 2006 and was followed up by subsequent
drilling programs in 2007 and 2008 (refer to press releases dated July 11, 2006, May 8, 2007, April 21,
2008, and May 20, 2008). In 2008, a National Instrument (NI) 43-101 compliant inferred resource estimate
for the deposit was calculated at 903,000 tonnes grading 1.55% nickel (refer to press release dated
March 12, 2009). The last hole completed on the project in 2008, Hole M08-03, intersected 26.7 metres
(87.5 feet) grading 1.30% nickel including 5.76 metres (18.9 feet) grading 3.06% nickel in what was
interpreted to be a previously unknown zone.
Drilling completed in late 2009 was designed to infill
mineralization outlined in 2006 and 2007 and follow-up on the new zone of mineralization identified in
Hole M08-03. In total 6,894 metres in 18 holes were completed during the 2009 program. Results from the
remaining five holes will be released over the coming weeks as assay results become available.
Mark
Trevisiol, Crowflight’s President and CEO, commented on the results stating: “Exploration at M11A North
continues to yield encouraging results. As we continue to define the full extent of the resource at
M11A, conditions favourable to the hosting of nickel mineralization continue to improve at depth. We
expect that the program has provided sufficient information to upgrade certain estimates of mineral
resources to the indicated category at the deposit. Encouraging intercepts such as those encountered in
Hole M09-17 indicate that the potential of the deposit remains open for further expansion.”
The
Company plans to review results from this program and update resource calculations at M11A North later
this year. Crowflight is advancing the M11A North deposit with the expectation that it could eventually
provide a source of supplemental feed for the Bucko Mine operations to expand production and extend the
life of the operations.
Qualified Person/Quality Control Procedures
This press release has been
prepared and reviewed by Mr. Greg Collins, P.Geo. (APGO/APEGM) and VP Exploration of Crowflight, who is
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. Standards and blanks are
submitted with each sample batch.
About Crowflight Minerals
Crowflight Minerals Inc. (TSX: CML) is
a Canadian junior mining company that owns the Bucko Lake Nickel Mine near Wabowden, Manitoba. 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
This press release
contains forward-looking statements under Canadian securities legislation. Forward-looking statements
include, but are not limited to, statements with respect to mineralization projections, including
mineral resource estimates; timing, size and cost of future exploration programs and the potential of
using the M11A deposit as a source of feed for the Bucko mine. Generally, forward-looking statements can
be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”,
“is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not
anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions,
events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.
Forward-looking statements are based on the opinions and estimates of management as of the date such
statements are made. Estimates regarding the anticipated timing, amount and cost of mining at the Bucko
Lake Project are based on assumptions underlying mineral reserve and mineral resource estimates and the
probability of realizing such estimates that are set out herein. Production estimates are based on mine
plans and production schedules, which have been developed by the Company’s personnel and independent
consultants. Forward-looking statements are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of the Company
to be materially different from those expressed or implied by such forward-looking statements, including
but not limited to risks related to: unexpected events and delays during production;; timing and
availability of external financing on acceptable terms; changes in project parameters as plans continue
to be refined; future prices of minerals, particularly nickel; failure of plant, equipment or processes
to operate as anticipated; accidents, labour disputes and other risks of the mining industry. Although
management of the Company has attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place undue reliance on
forward-looking statements. The Company does not undertake to update any forward-looking statements,
except in accordance with applicable securities laws.
Further information is available on the
Company’s website at www.crowflight.com or contact:
Mark Trevisiol
President & CEO
Crowflight
Minerals
Tel: (416) 861-5893
Heather Colpitts
Manager, Investor and Public
Relations
Crowflight Minerals
Tel: (416) 861-5803
info@crowflight.com
Figure 1. – Location Map
of Crowflight’s Manitoba Satellite Deposits
To view the entire news, including tables and maps,
please click the link:
http://www.irw-press.com/dokumente/Crowflight_040210_English.pdf
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