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Re: News Release - Friday, February 29, 2008
Crowflight Drilling at Halfway Lake Intersects 13 Metres Grading
1.6% Nickel
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CROWFLIGHT MINERALS INC. (Crowflight, the Company) (TSX Venture
Exchange: CML) is pleased to announce assay results for two of the four
holes completed on its Halfway Lake project, located in close proximity
to the Bucko Project south of Thompson, Manitoba. The most notable
result is Hole HW08-02 that intersected 13.03 metres (42.8 feet)
grading 1.58% nickel.
Nine holes totalling 4,800 metres have been completed since the
commencement of the 2008 winter exploration activities on Crowflight's
Xstrata Nickel joint venture (JV) properties in the Thompson Nickel
Belt in January. Assay results are currently available for two of the
nine completed holes. Please refer to Table 1 for a presentation of the
assay results and Figure 1 for a location map.
Greg Collins, Crowflight's Vice President of Exploration, commented on
the results stating: "We are pleased by the initial results from our
program at Halfway Lake. The intersection represents some of the
highest grade material encountered to date at Halfway Lake and expands
the limits of known mineralization up-dip from the known resource."
Table 1.
Summary Assay Results 2008
Halfway Lake Deposit, Thompson Nickel Belt
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Core Core
Drill Hole From To Length Length Nickel Copper PGE's(1)
---------- ---- -- ------ ------ ------ ------ --------
(metres) (metres) (metres) (feet) (%) (%) (gpt)
HW08-01 348.20 351.60 3.40 11.2 0.90 0.08 0.11
And 366.00 370.00 4.00 13.1 0.69 0.05 0.13
HW08-02 334.22 347.25 13.03 42.7 1.58 0.09 0.26
Incl. 334.22 339.45 5.23 17.2 1.76 0.07 0.24
Incl. 338.45 339.45 1.0 3.3 2.44 0.05 0.23
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(1) Combined platinum and
palladium values
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.
Presently three surface drill rigs supplied by More Core Diamond
Drilling Services Ltd. of Stewart, BC are engaged in drilling at
Halfway and Bucko Lake. Results from this program will be released over
the coming weeks as assay results become available. The Company plans
to complete 25 holes for a total of 10,000 metres during the entire
winter 2008 drilling season on the Xstrata JV.
Crowflight expects to finalize planning for the Pure Nickel/Crowflight
Manibridge JV exploration program in the coming weeks, with activities
expected to commence late in the spring of 2008.
Crowflight plans to spend $2.5 million on exploration on the Xstrata JV
(funded 100% by Crowflight), $2 million on delineation and definition
drilling underground at Bucko and $2 million on the Manibridge JV
(funded 50% by Crowflight and 50% by Pure Nickel) during 2008.
This press release has been prepared and reviewed by Mr. Greg Collins,
P.Geo (APGO/APEGM), a Qualified Person under the NI 43-101 guidelines.
Fire assays were performed at the ALS-Chemex laboratory in Vancouver on
all the samples for Gold and PGE's 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.
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 Bucko Nickel deposit located near
Wabowden, Manitoba into production by mid-2008.
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 the
Company's business activities and plans. 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, 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.
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:
Mike Hoffman
President and CEO
Crowflight Minerals
Tel: (416) 861-2964
Heather Colpitts
Manager, Investor and Public Relations
Crowflight Minerals
Tel: (416) 861-5803
info@crowflight.com
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Copyright (c) 2008 CROWFLIGHT MINERALS INC. (CML) All rights reserved.
For more information visit our website at http://www.crowflight.com/
or send mailto:info@crowflight.com
Message sent on Fri Feb 29, 2008 at 8:27:23 AM Pacific Time
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