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Cream Minerals Announces New Discovery At Nuevo
Milenio Silver-Gold Project
Vancouver, BC - June 10, 2009 - Cream Minerals Ltd. (TSXV - CMA) ("Cream" or the
"Company") is pleased to announce a new discovery at its 100%
owned Nuevo Milenio Silver-Gold project located in Nayarit State, Mexico. A
channel sample taken just inside a recently discovered historic Spanish
working on Cerro Dos Pinos, which is located approximately 500 metres
southeast of the high-grade silver-gold Veta Tomas vein, yielded assays of 0.95
g/t Au and 452 g/t Ag respectively.
Cerro Dos Pinos lies approximately 500 metres southeast of drill hole DDH
07 -- 23 which was drilled on the Veta Tomas Structure. The Company
believes that the new discovery is a probable fault segment of the high-
grade silver-gold Veta Tomas Structure and if correct extends the known
strike length of the Veta Tomas - Dos Hornos Zones from 1,300 metres to
1,800 metres. The historic Spanish adit, which is 1.60 m wide and caved,
was driven on a quartz vein structure outcropping within a window of
younger devitrified rhyolite flows. The Cerro Dos Pinos discovery also
aided in defining the approximate location of the Dos Hornos 3 fault
segment which lies northeast of the Veta Tomas vein.
The following assays are taken from various locations along the Veta Tomas
vein structures to facilitate comparison of the new discovery with previous
assays at Nuevo Milenio:
Sample #
|
From
m
|
To
m
|
Width
m
|
Au
g/t
|
Ag
g/t
|
Veta Tomas DDH 07 - 23
|
295758 - 60
|
78.60
|
84.60
|
6.00
|
1.706
|
525.73
|
295758 - 59
|
78.60
|
82.60
|
4.00
|
2.438
|
771.20
|
295759
|
80.60
|
82.60
|
2.00
|
4.350
|
1388.40
|
Mina Santa Gertrudis
|
34106
|
Chip Sample
|
4.00
|
1.540
|
700.00
|
Dos Pinos - Portal
|
6887745
|
Channel Sample
|
1.60
|
0.950
|
452.50
|
Cream Minerals has developed an impressive high-grade silver-gold inferred
mineral resource at the Company's Nuevo Milenio project. The revised NI
43-101 compliant inferred mineral resource estimate of 54.6 million ounces
silver equivalent is contained within 5.1 million tonnes.
The table below details the NI 43 -- 101 Compliant Revised Inferred
Mineral Resources as previously reported (Report dated December 24, 2008).
NI 43-101 Compliant Reported
Inferred Mineral Resources revised December 24, 2008
Dos Hornos (U/G)
|
Width
m
|
Tonnes
|
Au
g/t
|
Ag
g/t
|
Au
oz
|
Ag
oz
|
Dos Hornos Segment 1
|
4.70
|
1,173,901.56
|
1.500
|
165.34
|
59,400.00
|
6,552,238.85
|
Dos Hornos Segment 2
|
4.06
|
746,528.32
|
1.770
|
201.95
|
42,390.25
|
4,847,215.70
|
Veta Tomas
|
5.09
|
1,246,162.50
|
1.280
|
351.19
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51,344.17
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14,070,467.48
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Once Bocas
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2.42
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1,921,162.50
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1.920
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252.59
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118,347.79
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15,602,012.74
|
Total
|
|
5,087,754.88
|
1.660
|
251.09
|
271,482.21
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41,071,934.77
|
Tonnes: 5,088,000 Au: 1.660 g/t, Ag 251.09 g/t Au:
271,500 oz, Ag: 41,072,000
Silver Equivalent (Gold - Silver price Ratio = 50:1): 54,647,000 oz
(assumes 100% recovery)
Cream
outlined a revised underground development program (see News Release May
11, 2009). The objectives of the revised underground development program
are to begin establishing the true grade and economic width of the
mineralized zone, stage underground diamond drilling and begin upgrading
the inferred mineral resources to the measured and indicated status.
Mr. Ferdinand Holcapek, P. Eng., Director and Administrator General, Cream
Minerals De Mexico, SA de CV, supervises exploration programs on the Nuevo
Milenio Project. He is responsible for all technical reporting and is the
Company's "Qualified Person" for the purpose of National
Instrument NI 43-101.
For further information, please contact:
Frank A. Lang, BA, MA, P.Eng.
Chairman of the Board
Michael E. O'Connor
President & CEO
Robert Paul, Investor Relations
Tel: (604) 687-4622 Fax: (604) 687-4212 Toll Free: 1-888-267-1400
Email: info@creamminerals.com
The 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.
You can also
view this News Release on our website at:
http://www.creamminerals.com/s/NewsReleases.asp?ReportID=352093
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