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Re: News Release - Tuesday, May 20, 2008
Crowflight's Final Results From Winter Exploration Drilling
Further Indicate Potential To Expand Bucko Project And Satellite
Deposits
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CROWFLIGHT MINERALS INC. (Crowflight, the Company) (TSX Venture
Exchange: CML) today announced final assay results from its 2008 winter
exploration drilling program in the Thompson Nickel Belt, Manitoba.
Results include hole HW08-11 drilled at Halfway Lake that intersected
15.12 metres (49.6 feet) grading 1.24% nickel, as well as other
encouraging assay results from the Halfway Lake and Bucko North target
areas.
A key objective of the 2008 winter exploration program was to identify
additional sources of potential mill feed proximal to the Company's
Bucko Lake Nickel Project (Bucko), located outside Wabowden, Manitoba.
The program was successful in identifying new occurrences of
mineralization at Halfway Lake, the M11A North Zone and the Bucko North
target. These areas are located 20 kilometres, 5 kilometres, and 400
metres respectively from the mill at Bucko, which is scheduled to
commence production by the third quarter of 2008.
In summary, 21 holes for a total of 8,200 metres were completed during
the winter program. Please refer to Figure 1 for a map depicting the
drilling locations and Table 1 for a summary of new and
previously-released assays for the 2008 winter program.
Table 1.
Winter 2008 Exploration Program - Summary of Assay Results
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Core Core
Drill Hole From To Length Length Nickel Copper
PGEs(1)
---------- ---- -- ------ ------ ------ ------
-------
(metres) (metres) (metres) (feet) (%) (%)
(gpt)
Halfway Lake
HW08-01(2) 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(2) 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 1.00 3.3 2.44 0.05
0.23
HW08-03(2) No significant assays
HW08-04(2) 183.62 199.23 15.61 50.1 1.03 0.06
0.16
Incl. 198.82 199.23 0.41 1.3 8.35 0.03
2.15
HW08-05(2) 135.66 139.00 3.34 10.7 1.16 0.09
0.16
HW08-06(2) 181.98 182.28 0.30 1.0 5.11 0.27
0.63
HW08-07 No significant assays
HW08-08 No significant assays
HW08-09 No significant assays
HW08-10 186.60 192.69 6.09 20.0 0.97 0.07
0.02
HW08-11 222.95 226.21 3.26 10.7 1.03 0.06
0.02
and 231.79 246.91 15.12 49.6 1.24 0.11
0.03
Incl. 236.69 243.83 7.14 23.4 1.57 0.15
0.04
Bucko North
BX08-01(2) 321.47 330.00 8.53 27.99 0.45 0.02
0.05
BX08-02(2) No significant assays
BX08-03 No significant assays
BX08-04 294.69 295.67 0.98 3.22 1.09 0.05
0.02
and 300.25 300.64 0.39 1.28 2.31 0.05
0.04
and 309.54 309.98 0.44 1.44 1.56 0.21
0.04
M11A Zone
M08-01 403.84 413.84 10.00 32.8 0.59 0.05
0.02
M08-02(2) No significant assays
M08-03(2) 357.05 383.73 26.68 87.5 1.30 0.06
0.41
Incl. 357.05 360.05 3.00 9.8 2.24 0.14
0.75
Incl. 374.54 380.30 5.76 18.9 3.06 0.16
1.02
Apex
Zone
AP08-01(2) No significant assays
AP08-02(2) No significant assays
AP08-03 No significant assays
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(1) Combined platinum and
palladium values
(2) Previously reported results - see press releases dated
February 29, 2008 and April 21, 2008
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.
Greg Collins, Vice President of Exploration for Crowflight Minerals,
commented on the results of the winter program stating: "The results
from the winter exploration program continue to demonstrate the
potential of our 700 square kilometre land package in the Thompson
Nickel Belt. Drilling at the M11A Zone resulted in the discovery of a
new high grade lens, less than 5 kilometres north of milling operations
at Bucko. At Halfway Lake, drilling confirmed extensions that we expect
to enhance the grade and tonnage of the current resource. Drilling on
the Bucko Lake North intrusion has confirmed the presence of higher
grade nickel sulphide mineralization at depth less than 400 metres
north from the planned underground workings at Bucko. These activities
are positive developments for our Company in that they further expand
our options for growth at our soon-to-be producing Bucko mine in
Wabowden."
Discussion of Results
Halfway Lake
At Halfway Lake, 11 holes totaling 4,529 metres were completed.
Highlights include hole HW08-02, intersecting 13.03m grading 1.58%
nickel (previously released) and hole HW08-11 which intersected 15.12m
grading 1.24% nickel, including 7.14m grading 1.57% nickel. Drilling
has confirmed extensions to the previously identified resource that are
expected to enhance the grade and tonnage of the known resource.
M11A Zone
Near the M11A target, three holes totaling 1,315 metres were completed.
Highlights include hole M08-03, a new high grade lens located beneath
the known M11A North resource which intersected 26.7m grading 1.30%
nickel including 5.76m grading 3.06% nickel (previously released).
Holes M08-01 and M08-02 targeted other portions of the M11A intrusion
located more than 500 metres south of the mineralization intersected in
M08-03.
Bucko North
Drilling on the Bucko North target included the completion of four
holes totaling 1,638 metres. Two holes investigated the near surface
potential of the intrusion for condemnation purposes and have confirmed
that there is no open pit potential beneath the site of the future
tailings storage area. Deeper drilling targeting areas 300 metres below
surface confirmed the presence of higher grade nickel sulphide
mineralization first identified by drilling in 2007. Hole BX07-01
intersected 7.5 metres grading 0.78% nickel including 1.5m grading
2.19% nickel (previously released). Highlights from hole BX08-04
include narrow intervals of nickel sulphide mineralization containing
up to 2.31% nickel. The results of the 2008 program indicate that
future work on this target located 400 metres north of planned workings
at Bucko may be best achieved once underground access from the Bucko
Mine is available.
Apex Zone
Near the Apex target, three holes for 718 metres were completed. The
holes were drilled to test exploration targets located more than 500m
north and south of the previously defined resource at Apex. One hole
(AP08-02) was lost in casing and did not reach its target objective.
Holes AP08-01 and AP08-03 intersected magnetic gneiss, explaining the
targeted geophysical anomaly. The resource potential at Apex zone
remains open for expansion at depth.
Results from this program will be used to generate updated resource
calculations at Halfway Lake and M11A North and be used to further
refine the focus of resource expansion drilling near Bucko.
2008 Summer Drilling Program at Manibridge
Crowflight and Pure Nickel plan to commence drilling nickel exploration
targets identified close to the past-producing Manibridge Mine in early
June. Results from this program will be released through the summer and
early fall of 2008 as they become available.
Underground Drilling at Bucko
Crowflight continues to conduct underground drilling from the 1,000
foot level of the Bucko Lake Nickel Project, with the intent of
obtaining further geotechnical information on the deposit and upgrading
the mineral resource and reserve estimates. It is expected that results
from this program will be released through the late spring and fall of
2008 as they become available.
Qualified Person/Quality Control Procedures
This press release has been prepared and reviewed by Mr. Greg Collins,
P.Geo (APGO/APEGM), who is the Vice President Exploration of the
Company and 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 at the ALS-Chemex laboratory in Vancouver. Standards and blanks
are submitted with each sample batch.
Crowflight Minerals -- Canada's Next Nickel Producer
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 fully-funded Bucko Lake Nickel
Project located near Wabowden, Manitoba into production by the third
quarter of 2008.
Cautionary Note on Forward-Looking Information
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
mineralization projections; mineral reserve and resource estimates;
scheduled exploration programs and costs thereof; estimated capital and
operating costs; expected production timeline; requirements for
additional financing. 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, ability to realize
mineral reserve and resource estimates; ability to obtain financing;
metal prices, competition, risks inherent in the mining industry,
including risks relating to mine development, 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
Figure 1. 2008 Winter Exploration Program Location Map
http://www.crowflight.com/i/misc/NRMay20-08.jpg
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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 Tue May 20, 2008 at 9:48:18 AM Pacific Time
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