Vancouver, BC - Cream Minerals Ltd. (CMA - TSX-V) ("Cream" or
the "Company") is pleased to announce that on its 100% owned
Nuevo Milenio Project, located 20 km from Tepic, Nayarit State, Mexico, a
topographic survey, commissioned in November 2007, has been completed. The
survey covered the Dos Hornos - Veta Tomas -Once Bocas areas, encompassing
4 km2. The object of this survey was to obtain accurate topographic control
to help in the planning and execution of Phase 1 underground exploration
program recommended in the new NI 43-101 compliant report dated January 30,
2008 by F. Holcapek, P.Eng.
This new report shows a tripling of the inferred silver resources at Dos
Hornos - Veta Tomas, and presents details of the geological setting of the
mineralized zone. It also recommends an 8000 m follow-up diamond drill
program for the Cerro Chacuaco and Once Bocas mineral zones.
Cerro Chacuaco Prepares for Next Major Phase of Diamond Drilling
Cerro Chacuaco is a zone of silicification, quartz stock work and quartz
veining with a known strike length of +900 m and an indicated width of 150
m to 250 m with significant silver-gold mineralization. It lies
approximately 1,200 m SW and sub parallel to the Dos Hornos zone (See NI 43
- 101 Report Dated January 30, 2007 by F. Holcapek, P.Eng.). Across these
widths, surface rock chip samples, each representing an area of 3 m by 3 m,
were taken at 25m to 30 m intervals. See table and attached sketch:
Sample #
|
m
|
ft
|
Au g/t
|
Ag g/t
|
34184-90
|
210
|
689
|
0.240
|
70.33
|
34179-80 34202-07
|
150
|
492
|
0.917
|
112.55
|
Also, within this 250 m wide anomalous zone, four quartz - breccia - stock
work zones up to 20 m wide have been located. Three of these zones, Mina
Nanche, Mina Perdida and Mina Cerro Chacuaco, were explored during colonial
times.
Fieldwork is presently being concentrated on Cerro Chacuaco and Arroyo
Chacuaco and consists of surveying and layout of drill sites and roads in preparation
for diamond drilling.
The Veta Nanche Zone, trends N45W/60SW. Trenching, shafts and narrow
adits are spread over a 150 m strike length but the extent of this
mineralized zone is not yet known. An old inclined shaft was found sunk
along a fault - quartz breccia zone. Previously reported assays are:
Sample
#
|
Mina
Nanche workings caved, surface samples
|
M
|
Au g/t
|
Ag g/t
|
198454
|
Shaft, oxidized, brecciated,
Tuff, qtz vein 0.20 m
|
0.95
|
1.820
|
698.00
|
199428
|
Shaft, qtz vein in
brecciated lithic tuff
|
0.65
|
3.320
|
574.00
|
199429
|
Shaft, kaolinized oxidized
lithic tuff, qtz vein.
|
1.30
|
0.450
|
156.00
|
199430
|
Shaft, fragmental,
brecciated qtz vein
|
1.10
|
0.220
|
56.00
|
199431
|
Mina Nanche, Sublevel,
oxidized, fragmental qtz vein
|
1.20
|
0.250
|
38.00
|
199432
|
Shaft, fault, oxidized
lithic tuff
|
0.50
|
0.200
|
125.00
|
199433
|
Shaft, fault, oxidized
lithic tuff
|
0.70
|
0.040
|
30.00
|
|
Average all above
|
0.92
|
0.803
|
223.39
|
Rock Sample (Grab) from Nanche Drill Road
|
ACME
& CHEMEX Average Assay
|
Grab
|
3.83
|
1,396.00
|
The Mina La Perdida Zone was explored historically by trenches,
narrow adits and shafts (Perdida 1, 2, 3). These old Spanish workings are
in general less than 1.30 m wide exposing fault-breccia, gouge and intense
oxidation. The presence of abundant blocks and fragments of quartz along
the SE flank of Cerro Chacuaco and the outcropping of a quartz vein structure
at the junction of Arroyo Cafetal and Arroyo San Miguel, delineate the
projection of the Perdida structure. The following previously reported
assays were taken at Perdida 2:
Sample #
|
Description
|
M
|
Ft
|
Au g/t
|
Ag g/t
|
199525
|
Shaft, white, massive
quartz. silicified tuff
|
1.85
|
6.07
|
0.590
|
167.00
|
199526
|
Siliceous, Breccia, tuff
quartz stockwork
|
1.07
|
3.51
|
1.560
|
934.00
|
199527
|
Shaft, massive quartz, 1 m
|
1.35
|
4.43
|
0.300
|
133.00
|
199528
|
Shaft, massive and porous
quartz, limonite
|
1.30
|
4.26
|
0.160
|
108.00
|
199529
|
Shaft, massive quartz 0.5
m,+ stockwork
|
1.60
|
5.25
|
0.210
|
125.00
|
B104013
|
silicified tuff, very
oxidized, quartz veins
|
2.00
|
6.56
|
0.210
|
143.00
|
|
Weighted average all samples
|
|
|
0.450
|
230.56
|
Recent work has traced the Mina Chacuaco zone for 500 m further
south to an area of basalt flows. Shortly before the basalt contact an
exposure of silicified, feldspathic tuffs and quartz stockwork forms a
cliff. In the lower part of the cliff is a possibly caved, old Spanish
adit, which needs cleaning to clarify the setting. Below are assays from Mina
Chacuaco (previously reported):
Description
|
Sample #
|
M
|
Ft
|
Au g/t
|
Ag g/t
|
Upper
Level
|
104004 - 05, 660947 - 48
|
8.00
|
26.24
|
0.489
|
111.00
|
Internal
Decline
|
660945 - 46
|
4.00
|
13.12
|
0.560
|
155.00
|
Lower
Level
|
104007 - 09, 660944
|
8.00
|
26.24
|
0.835
|
174.38
|
Mr. Holcapek, P. Eng Geology, supervises exploration programs on the Nuevo
Milenio Project and is the Company's "Qualified Person" for the
purpose of NI 43-101.
Frank A. Lang, BA, MA, P.Eng.
President and CEO
For further information, please contact:
Robert Paul, Investor Relations
Tel: (604) 687-4622 Fax: (604) 687-4212
Email: info@creamminerals.com
Or
CHF Investor Relations
Phone: (416) 868-1079, Ext. 229
Should you wish to receive Company
news via email, please email catarina@chfir.com
and specify "Cream Minerals Ltd." in the subject line or contact
the Company directly.
TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of the contents of this
News Release. Management has prepared this release and no regulatory
authority has approved or disapproved the information contained herein.
Cautionary
Language and Forward-Looking Statements
This news release includes certain statements that may be deemed
"forward-looking statements." All statements in this release,
other than statements of historical facts, that address future production,
reserve potential, exploration drilling, exploitation activities and events
or developments that the Company expects are forward-looking statements.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or
developments may differ materially from those in the forward-looking
statements. Factors that could cause actual results to differ materially from
those in forward-looking statements include market prices, exploitation and
exploration successes, and continued availability of capital and financing,
and general economic, market or business conditions. Investors are
cautioned that any such statements are not guarantees of future performance
and those actual results or developments may differ materially from those
projected in the forward-looking statements. For more information on the
Company, investors should review the Company's filings that are available
at www.sedar.com or the Company's website at www.creamminerals.com.
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