VANCOUVER, British Columbia, Dec. 12, 2017 (GLOBE NEWSWIRE) -- CRYSTAL EXPLORATION INC. (the “Company” and “Crystal”) (CEI.V) (CYRTF) is pleased to announce completion of the gold drilling program and an exploration update for projects located in Nunavut, Canada.
Jim Greig, President & CEO commented, “All completed drill holes intersected significant widths of sulphidic iron formation similar to historical results as documented at the Butterfly Gold Occurrence. The application of modern ground geophysics has expanded the strike length of gold occurrences delineating new targets for drilling during 2018. We are excited about the preliminary results as this shows potential for a significant discovery.”
Three drill holes totaling 198.42 meters (17CEI001-003) of BTW drill core were completed at the Butterfly Gold Occurrence (see Crystal News release dated October 4, 2017). All three drill holes intersected sulphidic, amphibolitic iron formation (“AIF”) within ~50m of surface which was intensely altered, silicified and sulphidized. More specifically, the drill holes intersected 8.2m, 5.14m and 4.8m of amphibolitic iron formation which was silicified and sulphidized. Historic drill logs noted a direct correlation to silicification and sulphidation with gold (Cominco, 1987). Split drill core has been sent to ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada for analysis. Samples will be analyzed for gold by Fire Assay (“FA”) and multi-element Induction Coupled Plasma Spectroscopy (“ICP”). Anomalous samples will also undergo screen fire assays as a check for coarse gold as documented in historic exploration (i.e. 4.86m of 63.09 g/t Au in drill hole 87-13).
Ground geophysical surveying consisting of Horizontal Loop Electromagnetics (“HLEM”) and High-Resolution Magnetics / Very Low Frequency Electromagnetics (“Mag/VLF”) was completed prior to drilling. Both the HLEM and Mag/VLF show compelling images which delineate the sulphidic amphibolitic iron formation. Although the planned 2017 program was not fully completed due to inclement weather, the drill intercepts and geophysics completed to date provide significant support for the continuity of the Butterfly Gold Occurrence. Following the receipt of pending drill results, Crystal will develop a 2018 exploration program with the goal of developing a maiden resource.
About Crystal Exploration Inc.
Crystal owns 100% of the Contwoyto Gold Project located south of the Lupin Gold Mine in Nunavut, Canada. An exploration program is in progress to confirm historic gold intercepts from drilling at the Butterfly Gold Occurrence (see Press Release dated October 4, 2017). In addition, Crystal owns 100% of three diamond projects located near the past producing Jericho Diamond Mine, Nunavut, Canada. Crystal has identified 6 high priority kimberlite targets that remain untested, which have the potential to be new diamond discoveries.
Crystal is a Canadian gold & diamond exploration company with its common shares listed for trading on the TSX Venture Exchange. Crystal is backed by proven and seasoned resource sector professionals, who have a track record of advancing exploration projects from grassroots through to production scenarios. The technical content of this news release has been reviewed and approved by Dean Besserer, P.Geol., the Technical Advisor of the Company and a Qualified Person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “Jim Greig”
Jim Greig,
President and Chief Executive Officer
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Web: www.crystalexploration.com
Email: info@crystalexploration.com
Telephone: 604 260 6977