Creso Expands Exploration on the Downey-Gibson Property at the West Shining Tree Project, Ontario
Published : June 28, 2011
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Gold | Guatemala | Market | Water |

MONTREAL, QUEBEC--(Marketwire - June 28, 2011) - Creso Exploration Inc. ("Creso" or the "Company") (News - Market indicators)(OTCQX:CRXEF)(FRANKFURT:C3X) is pleased to announce that expanded reconnaissance exploration on the Downey-Gibson property at its West Shining Tree project in northeast Ontario has encountered a significant east-west trending shear zone across the entire 2-km extent of its Gibson Option claims in Asquith Township, with widths that vary from 30 meters to 1,500 meters in the north-south direction. The Gibson Option consists of 8 claims that immediately adjoin the Downey claims to the north. Grab samples reported from the Downey claims in a May 27, 2011 Press Release show up to 266.00 g/t Au (7.77 oz/t Au) in parallel quartz-carbonate veins that also trend east-west. In the area of the broad Gibson Shear Zone, over one hundred prospecting pits, from two meters to five meters in diameter, were observed and are thought to have been the result of gold exploration dating from the early 1900's. At least two shafts, one of which was timbered, are also present, but are filled with water and are of uncertain depth.

Creso is currently involved in a program of channel sampling and/or Winkie drilling at the Downey, Bennett, Moore-MacDonald, and Buckingham properties. The Company will be expanding the exploration program on the Gibson property by sampling the known pits and shafts in the next thirty days with the intention of developing drill targets.

The Gibson Shear Zone displays intense penetrative shearing of Archean volcanic sequences in a general east-west direction that in turn is cut by local younger N-S to N10W fractures. The shears control individual veins and veinlets of some centimeters to millimeters in width that consist of quartz, carbonate, chlorite, and pyrite (1-2% by volume).

The impressively large dimensions of the E-W shear zone and the abundant presence of the strong quartz-carbonate-chlorite-pyrite mineralization suggest that the Gibson Shear Zone could host significant volumes of disseminated and open-pit style gold mineralization.

The Gibson Shear Zone occurs within an area delineated by Diagnos Inc., a leader in the use of artificial intelligence and advanced knowledge-extraction techniques, as showing affinities to known areas of mineralization in this part of NE Ontario. The algorithm method of critical characteristic comparisons employed by Diagnos indicates one of the largest anomalies of this type within the Shining Tree district is roughly centered upon the claim area that Creso has gained control of within the Gibson Shear Zone. Diagnos provides its analytical services to Creso on a contract basis.

This Press Release has been reviewed and approved by Mr. Alex Kutah, M. Sc, P. Geo., the Qualified Person under National Instrument 43-101.

About Creso

The Corporation's principal mining exploration holdings are located in the Shining Tree mining camp of Northern Ontario within 100 km of the Timmins and Kirkland Lake mining camps, and additional interests are held in base metal properties in Guatemala.

FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements that address future events and conditions, and are subject to various risks and uncertainties. Actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Corporation's control. These factors include: results of exploration activities, general market and industry conditions, and other risks disclosed in the Company's filings with Canadian Securities Regulators.

Forward-looking statements are based on the expectations and opinions of the Corporation's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. Depending on exploration results and available financing, the Corporation may at any point modify the suggested work program for 2011.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Robert Casaceli, President and CEO
(514) 866-6001 # 239
(514) 866-6193 (FAX)
scarrasco@creso.ca
or
Douglas Murray, Investor Relations
(613) 220-0569 / (613) 882-7295
dmurray@creso.ca
www.creso.ca
Data and Statistics for these countries : Guatemala | All
Gold and Silver Prices for these countries : Guatemala | All

Creso Exploration Inc.

EXPLORATION STAGE
CODE : CXT.V
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Creso Exploration is a exploration company based in Canada.

Its main exploration properties are CHISAY-OXEC, PADRE ANTONIO, HOPES and VILLA LINDA CRYSTALBELL in Guatemala and TYRANITE, DUGGAN and MINTO (ONTARIO) in Canada.

Creso Exploration is listed in Canada. Its market capitalisation is CA$ 16.3 millions as of today (US$ 12.4 millions, € 11.3 millions).

Its stock quote reached its highest recent level on October 15, 2010 at CA$ 1.19, and its lowest recent point on August 23, 2013 at CA$ 0.02.

Creso Exploration has 141 619 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Creso Exploration Inc.
1/8/2013Final Closing of Non-Brokered Private Placement
9/21/2012Announces Extension of Warrants
9/18/2012Announces Final Closing of Private Placement
Option Grants of Creso Exploration Inc.
8/8/2013Enters Into an Investor Relations Agreement With Octobaan IR...
Project news of Creso Exploration Inc.
6/8/2011(Duggan)Announces Drill Results From the Duggan Zone at Shining Tree
4/21/2011(Tyranite)Drills 10.6 g/t Au Over 4 Meters and Extends Historic Gold Z...
2/18/2011(Tyranite)Begins Drilling the Tyranite Mine Zone at the Shining Tree P...
Corporate news of Creso Exploration Inc.
7/15/2013Partners with Nichromet in a 24 M$ Environmentally Friendly ...
3/13/2013Announces 1.50 g/t Gold Over 80.9 Metres, Including 2.82 g/t...
2/14/2013(Duggan)Intersects 2.20 g/t Gold Over 34.50 m on the Duggan Gold Dep...
1/24/2013Announces Drilling Results on the Minto Property
11/2/2012Closes $200,000 Private Placement Financing and Resignation ...
10/17/2012to Explore Rich Silver Targets
7/5/2011to Explore Rich Silver Targets
6/28/2011Expands Exploration on the Downey-Gibson Property at the Wes...
6/16/2011Hunter Dickinson Terminates Shining Tree Letter Agreement wi...
5/27/2011Reports up to 266 g/t Au From Surface Sampling Program at th...
5/19/2011Begins Drilling on the Matona, Porphyry Lake, Hare Lake, and...
5/11/2011Drills 5.04 g/t Au Over 24 Meters in Minto Zone at Shining T...
4/29/2011Options Up to Approximately 70% Interest in Part of the Shin...
3/15/2011Platinex Inc. and Creso Exploration Inc.: Gold Corona Joint ...
3/15/2011Platinex Inc. and Creso Explorations Inc.: Gold Corona Joint...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (CXT.V)
0.115+0.00%
TSX-V
CA$ 0.115
08/05 15:49 -
0%
Prev close Open
0.115 0.115
Low High
0.115 0.115
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.115 -%
Volume 1 month var.
0 -%
24hGold TrendPower© : -37
Produces
Develops
Explores for Copper - Gold - Lead - Silver - Uranium - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 6/23/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 6.92+0.58%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 8.40-0.94%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.59+1.37%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.05+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.01-1.95%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 11.49-0.35%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.31+1.64%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.18+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.63+5.84%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 40.23-2.83%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.