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Re: News Release - Thursday, January 22, 2009
Crowflight Intersects 9.56 Metres Of 7.87% Nickel; Commences
Phase 2 Delineation Program At Bucko
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CROWFLIGHT MINERALS INC. (the "Company") (TSX: CML) is pleased to
provide an update on underground diamond drilling results from its
wholly-owned Bucko Lake Nickel Mine (Bucko) located in the Thompson
Nickel Belt near Wabowden, Manitoba.
The first planned phase of underground delineation drilling has been
completed at Bucko. Assay results from the remaining 20 holes drilled
in 2008 have been received and are reported below. Drilling results
from the program have been used to confirm reserves to support
commercial production at Bucko into 2010.
Crowflight's VP Exploration, Greg Collins commented, "Assay results
from the completed Phase 1 program have returned elevated nickel grades
and have confirmed areas of planned production at Bucko. Results from
the program are consistent with the mine design tonnage and grade
expectations. In addition, a vein of mineralization containing nickel
values above the modeled reserve grade has been outlined in an area
slated for production during the first quarter of 2009."
Some highlights from the remaining assay results received include:
- Hole BUD-38 intersected 13.61 metres grading 1.52% nickel
- Hole BUD-41intersected 12.64 metres grading 2.32% nickel
- Hole BUD-42 intersected 5.72 metres grading 4.97% nickel
- Hole BUD-43 intersected 19.05 metres grading 2.08% nickel
- Hole BUD-45 intersected 5.28 metres grading 1.81% nickel
- Hole BUD-67 intersected 20.66 metres grading 1.59% nickel
- Hole BUD-68 intersected 28.63 metres grading 1.68% nickel
- Hole BUD-69 intersected 19.35 metres grading 4.42% nickel
- Hole BUD-70 intersected 10.43 metres grading 3.38% nickel
- Hole BUD-71 intersected 17.22 metres grading 1.84% nickel
- Hole BUD-72 intersected 10.80 metres grading 2.78% nickel
- Hole BUD-73 intersected 4.72 metres grading 1.89% nickel
- Hole BUD-77 intersected 9.56 metres grading 7.87% nickel
- Hole BUD-78 intersected 13.90 metres grading 5.04% nickel
- Hole BUD-80 intersected 5.42 metres grading 5.57% nickel
Results from the Phase 1 delineation program have been used to update
the mineral inventory at Bucko, the results of which are expected to be
announced after they have been independently reviewed and determined to
be compliant with National Instrument 43-101 disclosure regulations.
The Phase 2 underground delineation and exploration program for 2009 is
now in progress at Bucko, with one underground drill stationed on the
1,000 foot mining level. To date in 2009, a total of 1,415 metres in 6
holes have been completed, while in 2008, 13,658 metres for a total of
80 holes were completed.
Table 1 provides a summary of assay interval highlights from the
recently-received assayed holes completed in 2008. Please see the
Company's press releases dated June 25, 2008 and October 1, 2008 for
details on previously-announced Bucko assay results. Figure 1 depicts a
longitudinal section of the deposit illustrating the location of
highlighted drill results and holes completed as part of the Phase 1
program.
Table 1. Latest Assay Results from 1,000 Foot Level Delineation Program
at Bucko
Drill Hole From To Core Length Core Length Ni%
(m) (m) (m) (feet) %
BUD-38 108.18 121.79 13.61 44.65 1.52
BUD-40 121.48 126.93 5.45 17.88 1.32
BUD-41 93.28 105.92 12.64 41.47 2.32
BUD-42 85.27 89.11 3.84 12.60 1.35
93.59 99.31 5.72 18.77 4.97
110.48 121.43 10.95 35.93 1.61
BUD-43 77.22 96.27 19.05 62.50 2.08
BUD-45 99.33 111.66 12.33 40.45 1.27
119.89 121.97 2.08 6.82 1.35
136.82 142.10 5.28 17.32 1.81
147.75 150.19 2.44 8.01 1.32
BUD-67 66.35 72.68 6.33 20.77 1.06
79.36 84.89 5.53 18.14 1.15
88.73 109.39 20.66 67.78 1.59
125.30 131.75 6.45 21.16 1.26
BUD-68 64.40 72.44 8.04 26.38 1.11
77.33 105.96 28.63 93.93 1.68
118.85 124.12 5.27 17.29 1.16
BUD-69 89.58 97.42 7.84 25.72 4.00
118.77 126.46 7.69 25.23 1.03
131.49 140.50 9.01 29.56 1.22
140.50 159.85 19.35 63.48 4.42
174.58 180.58 6.00 19.69 1.24
BUD-70 82.65 87.26 4.61 15.12 3.19
106.77 111.00 4.23 13.88 1.06
118.00 123.33 5.33 17.49 1.24
144.45 152.23 7.78 25.52 1.69
153.57 164.00 10.43 34.22 3.38
169.75 173.38 3.63 11.91 0.97
BUD-71 72.32 77.80 5.48 17.98 2.20
95.24 99.78 4.54 14.90 1.73
115.78 133.00 17.22 56.50 1.84
143.56 147.23 3.67 12.04 3.13
BUD-72 104.14 113.00 8.86 29.07 1.34
115.60 121.70 6.10 20.01 1.81
126.95 137.75 10.80 35.43 2.78
incl. 129.00 134.76 5.76 18.90 4.00
BUD-73 95.55 109.05 13.50 44.29 1.19
118.00 122.72 4.72 15.49 1.89
129.00 131.68 2.68 8.79 1.52
BUD-74 104.48 108.86 4.38 14.37 0.83
BUD-75 100.21 101.86 1.65 5.41 2.50
BUD-76 83.84 93.00 9.16 30.05 1.73
BUD-77 83.78 93.34 9.56 31.36 7.87
incl. 89.96 93.34 3.38 11.09 17.59
BUD-78 130.50 144.00 13.50 44.29 1.09
150.00 154.50 4.50 14.76 1.23
160.10 174.00 13.90 45.60 5.04
BUD-79 105.00 109.38 4.38 14.37 1.35
121.31 129.50 8.19 26.87 1.29
157.25 160.77 3.52 11.55 1.58
BUD-80 93.00 109.55 16.55 54.30 1.10
123.22 128.64 5.42 17.78 5.57
131.74 137.00 5.26 17.26 1.26
Intersection intervals reported are core lengths; actual true widths
range between 80% and 100% of core length.
Qualified Person/Quality Control Procedures
This press release has been prepared and reviewed by Mr. Greg Collins,
P.Geo (APGO/APEGM), a Qualified Person under the National Instrument
43-101 guidelines. All assays were performed at the ALS-Chemex
laboratory in Vancouver and undergo an ICP-AES finish and Sodium
Peroxide Fusion. Standards and blanks are submitted with each sample
batch.
Crowflight Minerals -- Canada's Newest Nickel Producer
Crowflight Minerals Inc. (TSX: CML) is a Canadian junior mining company
that is producing nickel at the Bucko Lake Nickel Mine near Wabowden,
Manitoba. Full commercial production is expected to be achieved at
Bucko in early 2009 and preparations are currently being made for the
first shipment of nickel concentrate from Canada's newest nickel mine.
Crowflight has hedged 2.97 million pounds, or approximately 30%, of its
2009 production at an average realized price of US$7.74 per pound. 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
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 proposed
exploration programs and expected results, planned production, timing
and results of updated mineral resource estimates, and timing for first
delivery of concentrate. Estimates regarding future exploration and
production are based on management knowledge and experience, current
operating results and analysis by third parties. 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, third party risks, production risks, 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.
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. Assay Results from 1,000 Foot Level Delineation Program at
Bucko
http://www.crowflight.com/i/misc/thompson.jpg
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Copyright (c) 2009 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 Jan 23, 2009 at 6:24:53 AM Pacific Time
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Crowflight Mineral Inc.
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PRODUCTEUR |
CODE : CML.TO |
ISIN : CA13758Y2015 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Crowflight Mineral est une société de production minière de nickel basée au Canada. Crowflight Mineral est productrice de nickel, de cuivre au Canada, et détient divers projets d'exploration au Canada. Son principal projet en production est BUCKO LAKE au Canada et ses principaux projets en exploration sont AER/KIDD, PETER'S ROOST et TNB NORTH au Canada. Crowflight Mineral est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 938 000 CA$ (682 583 US$, 609 615 €). La valeur de son action a atteint son plus haut niveau récent le 01 novembre 1996 à 96,02 CA$, et son plus bas niveau récent le 04 février 2016 à 0,03 CA$. Crowflight Mineral possède 37 520 000 actions en circulation. |