VANCOUVER, British Columbia, Jan. 10, 2018 (GLOBE NEWSWIRE) -- CRYSTAL EXPLORATION INC. (the “Company” and “Crystal”) (CEI.V) (CYRTF) is pleased to announce gold results from drilling at the Contwoyto Gold Project located in Nunavut, Canada. Selected drill results include:
- 14.43 grams per tonne gold (“g/t Au”) over 4 meters (m) in hole 17CEI002; including 18.23 g/t Au over 3m; 24.65 g/t Au over 2m and 38.8 g/t Au over 1m.
- 6.83 g/t Au over 5m in hole 17CEI003; including; 8.79 g/t Au over 3.82m; 11.5 g/t Au over 2.82m and 20.6 g/t Au over 1m.
- 2.19 g/t Au over 9m in hole 17CEI001; including 5.12 g/t Au over 3m.
Jim Greig, President & CEO commented, “The high-grade gold results intersected near surface show potential for a significant new gold discovery in a proven mining jurisdiction. All three drill holes intersected significant gold grades at the Butterfly Gold Occurrence. These drill results will also help validate historical work as the Company plans for a second larger drill program in 2018.”
The Butterfly Gold Occurrence remains open at depth and along strike as indicated by historical drilling and ground geophysical surveying including Horizontal Loop Electromagnetics (“HLEM”) and High-Resolution Magnetics / Very Low Frequency Electromagnetics (“Mag/VLF”). Section images can be viewed at Crystal’s website.
Three drill holes totaling 198.42 meters (17CEI001-003) of BTW drill core were completed at the Butterfly Gold Occurrence. All three drill holes intersected sulphidic, amphibolitic iron formation (“AIF”) within ~50m of surface which was intensely altered, silicified and sulphidized.
Quality Assurance and Control
Split drill core (35 samples) was analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO 9001:2008 accredited facility). Samples were analyzed for gold by Fire Assay (“FA”) and multi-element Induction Coupled Plasma Spectroscopy (“ICP”). Select anomalous samples were also analyzed by metallic screen fire assays whereby 1kg of rock material (duplicates from existing rejects) is screened to 100microns and both the plus and minus fraction are analyzed to determine the grade using 50gram sample weight fire assay for gold. In addition to the blank standards, reference standards and duplicate analyses performed by ALS Chemex with each sample submission, Crystal completed analyses in triplicate on all samples with anomalous gold including: Fire Assay; Metallic Screen Fire Assay; and, gold analysis by atomic absorption with a gravimetric finish. Due to the small number of core samples submitted, Crystal did not insert blanks. As Crystal plans for a larger drill program, this will include regimented Quality Assurance/Quality Control (“QA/QC”).
Table 1 below provides a summary of the gold results for the three drill holes completed at the Butterfly Gold Occurrence.
Table 1: Butterfly Gold Occurrence Results
| Drill Hole | Dip | From (m) | To (m) | Interval (m) | Original Fire Assay
ppm (g/t Au) | Screen Fire Assay Gold Total
(Plus/Minus) Combined ppm |
| 17CEI001 | -45 | | | | | |
| | | 46 | 46.46 | 0.46 | 0.17 | |
| | | 46.46 | 47 | 0.54 | 0.12 | |
| | | 47 | 48 | 1 | 1.19 | 1.83 |
| | | 48 | 49 | 1 | 0.67 | 0.72 |
| | | 49 | 50 | 1 | 0.91 | 1.09 |
| | | 50 | 51 | 1 | 3.4 | 3.65 |
| | | 51 | 52 | 1 | 5.68 | 5.99 |
| | | 52 | 53 | 1 | 6.29 | 3.33 |
| | | 53 | 54 | 1 | 0.36 | |
| | | 54 | 54.8 | 0.8 | 0.32 | |
| | | 54.8 | 56 | 1.2 | 0.79 | |
| 17CEI002 | -55 | | | | | |
| | | 58.33 | 59 | 0.67 | 0.08 | |
| | | 59 | 60 | 1 | 2.93 | 3.03 |
| | | 60 | 61 | 1 | 35 | 38.8 |
| | | 61 | 62 | 1 | 11.35 | 10.5 |
| | | 62 | 63 | 1 | 5.91 | 5.39 |
| | | 63 | 63.47 | 0.47 | 1.43 | |
| | | 63.47 | 64 | 0.53 | 0.08 | |
| | | 64 | 65 | 1 | 0.34 | |
| 17CEI003 | -45 | | | | | |
| | | 37 | 38 | 1 | 0.12 | |
| | | 38 | | 1 | 1.02 | 1.15 |
| | | 39 | | 1 | 9.45 | 4.99 |
| | | 40 | | 1 | 10.55 | 9.55 |
| | | 41 | 41.82 | 0.82 | 15.3 | 20.6 |
| | | 41.82 | 43 | 1.18 | 0.51 | |
*All depths and intervals are metres downhole, true thicknesses are yet to be determined.
About Crystal Exploration Inc.
Crystal owns 100% of the Contwoyto Gold Project located south of the Lupin Gold Mine in Nunavut, Canada. Crystal is exploring several high-grade gold occurrences with resource potential. In addition, Crystal own’s 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 yield 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
Cautionary note regarding forward-looking statements
Certain statements made and information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as “anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “could” or “would”. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.