HIGHLIGHTS:
- Results
from drill holes 3,4 and 5 continue to confirm the presence of a
significant and consistent near surface Copper-Gold-Silver deposit
- High
grade sections are present in all three drill holes
- All
three drill holes also contain additional intervals of lower grade
mineralization below the main intersections
Crazy
Horse Resources Inc. (the
"Company") a Philippines based mineral exploration company,
announces assays from the third, fourth and fifth holes of a ten-hole
confirmatory drilling program on its Taysan
copper-gold-silver porphyry project.
Hole
CZT003 drilled 448 meters of 0.33% Cu, 0.19 g/T
Au and 1.34 g/T Ag, and includes a high grade near surface
zone of 216m of 0.5%
Cu, 0.32 g/T Au and 2.12 g/T Ag from 54m - 270m down hole.
Hole
CZT004 drilled 404 meters of 0.32% Cu, 0.07 g/T
Au and 1.24 g/T Ag, and includes a high grade zone of 90m of 0.37% Cu, 0.15 g/T Au and
1.6 g/T Ag from 242m - 332m down hole.
Hole
CZT005 drilled 390 meters of 0.304% Cu, 0.084 g/T
Au and 1.0 g/T Ag, and includes a high grade zone of 180m of 0.40% Cu, 0.11 g/T Au and
1.4 g/T Ag from 142m - 322m down hole.
Results from the
first five holes (CZT001 to CZT005) reinforce that the Company's belief in
the presence of a significant Copper-Gold-Silver deposit is well founded.
The confirmatory
drilling program of 10 drill holes totalling
5715.3m has now been completed. Drill logging, cutting and sample shipments
have also been completed for all ten holes. Assays from holes six to ten
are expected shortly and will complete the planned Phase one drill program.
The Company will
continue to drill define the Taysan deposit in
preparation for the next study phase, however the ten holes drilled to date
are anticipated to be sufficient to bring the Taysan
deposit into a NI 43-101 compliant resource, which will be finalized once
all assays have been completed.
A summary of the
results from holes CZT003 to CZT005 are as follows:
|
CZT 003
|
|
|
|
|
|
|
From
|
To
|
Interval
|
Cu%
|
Au g/T
|
Ag g/T
|
|
|
|
|
|
|
|
|
2
|
450
|
448
|
0.33
|
0.19
|
1.34
|
including
|
54
|
270
|
216
|
0.5
|
0.321
|
2.12
|
|
|
|
|
|
|
|
and
|
474
|
512
|
38
|
0.11
|
0.04
|
|
|
CZT 004
|
|
|
|
|
|
|
From
|
To
|
Interval
|
Cu%
|
Au g/T
|
Ag g/T
|
|
|
|
|
|
|
|
|
46
|
450
|
404
|
0.32
|
0.073
|
1.24
|
including
|
242
|
332
|
90
|
0.37
|
0.15
|
1.6
|
|
|
|
|
|
|
|
and
|
480
|
606
|
126
|
0.13
|
0.044
|
|
|
CZT 005
|
|
|
|
|
|
|
From
|
To
|
Interval
|
Cu%
|
Au g/T
|
Ag g/T
|
|
|
|
|
|
|
|
|
70
|
460
|
390
|
0.304
|
0.084
|
1
|
including
|
142
|
322
|
180
|
0.4
|
0.111
|
1.4
|
|
|
|
|
|
|
|
and
|
472
|
522
|
50
|
0.13
|
0.057
|
|
Johan Raadsma, President and CEO of Crazy Horse states, "We are extremely excited
about this very large interval of mineralisation
with the addition of significant silver grades, which historically have not
been incorporated into the project valuation. It confirms our belief that a
very robust, near surface deposit is present near the infrastructure
required to develop an economical project. We have access to water,
electricity, roads, manpower and are only 20 km's from a commercial port.
We intend to develop this project rapidly."
QAQC
Drilling is
carried out by Quest Exploration Drilling (Philippines) Inc. using Edson 3000 and LF70 drill rigs and a triple tube
diamond core drilling system. All holes are started in PQ (150-200m) then
continued in HQ. All core is split using a
diamond-bladed drill-core saw and always sampled from the (true) left side
of the core. The remaining half of the core is sealed in plastic bags in a
nitrogen atmosphere and stored in a covered, guarded core shed. Core
samples are bagged in new polyethylene, UV stable plastic bags, sealed with
a plastic tie, numbered outside and have a tag placed inside the bag. All
samples are accompanied by Asian Arc personnel from site to the McPhar Laboratory under secure "Chain of
Custody" procedures. Samples are crushed to 85% less than 2mm then 1kg
is split out and pulverised in an LM2 Puck and
Bowl Pulveriser to 90% less than 75um. Gold is
assayed by Fire Assay (50g charge) with AAS finish (PM6)..
Cu, Ag, As, Pb, Zn, Mo, Al, Ca, Fe, K and S are
assayed by 4 Acid Digest (HCl / HNO3 / HClO4 /
HF) Ore grade analysis with ICP-AES finish (ICP-3). Sample rejects are
returned from the McPhar Laboratory under secure
"Chain of Custody" procedures by Asian Arc staff and also stored
in the core shed in heat sealed plastic bags in a nitrogen atmosphere. McPhar Geoservices (Phil),
Inc. is ISO 17025:2005 accredited and is a member of the International Intertek Laboratory Group.
Taysan Project
A copy of the
National Instrument 43-101 ("NI 43-101") report by R. Sowerby, of Geosynthesis Pty
Ltd. entitled "A Technical Review of Exploration and Resource
Estimates of the Taysan Project, Batangas Province, Philippines", in collaboration
with Mining Associates Inc. of Australia can viewed under the Company's
profile on SEDAR (www.sedar.com).
The Project
contains a drill defined copper-gold porphyry deposit, and is comprised of
two mining exploration permits and three mining exploration permit
applications (permits: EP-IVA-005 and EP-IVA-016, and permit applications:
EPA-IVA-108, EPA-IVA-111 and EPA-IVA-081) over five contiguous claim blocks
covering a combined total area of 11,254 hectares. The Project hosts a
large and only partly explored copper-gold porphyry deposit similar to
other copper-gold porphyry deposits previously mined in the Philippines.
The Project is located in southern Luzon, Philippines in a well developed
mining province and readily accessible by road located 20km east of the
provincial capital and deep water commercial port of Batangas
City. The Company is currently conducting a confirmatory scoping study
under the management of AMEC Minproc Limited,
which remains on track and on schedule.
Brian Lueck, Chairman of the Company, is the qualified person
who has reviewed the geological data summarized in this news release on
behalf of the Company.
ON BEHALF OF THE
BOARD
Johan Raadsma, President, CEO and Secretary
This press
release includes "forward-looking statements" including
forecasts, estimates, expectations and objectives for future operations
that are subject to a number of assumptions, risks and uncertainties, many
of which are beyond the control of Crazy Horse Resources Inc. Statements
regarding mineral exploration operations and objectives are subject to
risk, including, but are not limited to, exploration and geologic risk,
inflation and costs of goods and services, property title issues and
regulatory approvals. Investors are cautioned that any such statements are
not guarantees of future performance and that actual
results or developments may differ materially from those projected
in the forward-looking statements. Such forward-looking information
represents management's best judgment based on information currently
available. No forward-looking statement can be guaranteed and actual future
results may vary materially. Crazy Horse Resources Inc. does not assume the
obligation to update any forward-looking statement, except as required by
applicable law.
Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
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