October 29h, 2015: Vancouver BC: Cresval Capital Corp. ('the Company') (CRV: TSX-V) reports that a high resolution airborne magnetic and radiometric survey has commenced over its 100% owned MIKE (formerly Bridge River) Project in southwestern British Columbia. The 11,127-hectare property adjoins Amarc Resources' IKE Project, subject of a recently announced joint venture with Thompson Creek Metals Company Inc. In November, 2014 Amarc reported a porphyry copper-molybdenum-silver discovery on the IKE Project ten kilometres north of the MIKE Project. The IKE discovery includes drill results of 0.42% copper equivalent (CuEq) at 0.28% Cu, 0.030% Mo and 2.0 g/t Ag.
(See Amarc Press Release November 24, 2014, which includes CuEq calculation parameters.)
'We have always been optimistic about the potential for a copper-molybdenum-silver-gold deposit on the MIKE project,' said Cresval President Lee Ann Wolfin. 'Copper mineralization is widespread across the property, and the airborne survey will help identify the focal point of the porphyry system. Porphyry copper deposits often occur in clusters, which is why the IKE discovery points to a new emerging porphyry district.'
Cresval's MIKE Project covers the 14 km by 5 km Bridge River pluton which hosts porphyry copper-molybdenum-silver±gold mineralization across its extent. At the centrally located Russnor showing, which covers a mineralized intrusion breccia, chip sample results include 1.38% Cu over 30.5 metres in an old adit and 0.57% Cu over 60 metres from a canyon exposure. Diamond drill results include 0.30% Cu over 36.6 metres in Hole 61-5, and 0.30% Cu over the entire 26.5 metre hole in Hole 69-1. The Russnor showing occurs along the edge of an open-ended 1 km long by up to 600 metre wide copper-silver-gold±molybdenum soil anomaly, with maximum values of 985 ppm Cu, 81 ppb gold and 71.1 ppm molybdenum.
Additional showings on the MIKE Project include Copper Plateau, a 450 by 550m copper soil anomaly with maximum values of 4120 ppm Cu and 75 ppb Au. Broad, low grade copper mineralization was intersected in 1261m of diamond drilling in 5 holes on Copper Plateau, with results of 0.033% Cu over 206 metres, including 0.060% Cu over 87.5 metres (Cresval Press Release December 14, 2011). The Windy Copper showing consists of an open 1 km by 400 metre zone of copper mineralization including 3.26% Cu over 9.1 meters and 0.44% Cu across 24.5 metres reported from a 1931 trench.
The airborne survey on the MIKE Project is being completed by Precision GeoSurveys Inc. of Vancouver, British Columbia, which specializes in low level airborne geophysical surveys in mountainous terrain. Interpretation of the geophysical survey will assist the Company in evaluating the entire copper rich Bridge River pluton, which is 30% covered by a thin veneer of younger basalts, and aid in prioritizing targets. The airborne geophysical survey is useful in the detection of major magnetic low features, suggestive of the presence of broad scale magnetite destruction, and potassic alteration zones, features that are largely coincident with mineralization in porphyry style systems.
The MIKE Project has the potential for the discovery of a bulk mineable plutonic hosted porphyry copper-molybdenum-silver±gold deposit based on:
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widespread copper mineralization within the Bridge River pluton,
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occurrence of mineralized and hydrothermally altered intrusion breccia bodies,
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indication of a pyritic halo at the peripheral Canyon showing, and
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proximity and similarities to the IKE discovery; the host intrusions at MIKE and IKE appear to be similar in age and it is common for porphyry deposits to form in clusters.
Jean Pautler, P. Geo, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this press release.
About Cresval
Cresval is a junior copper and precious metals exploration company actively involved in three 100% owned projects situated near the productive Bralorne Gold camp in southwestern British Columbia.
Information on the MIKE Project is available on the Company's website at www.cresval.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Lee Ann Wolfin
President
Forward looking statements: Neither 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. This release contains statements that are forward‐looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading 'Risk Factors' and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward‐looking statement.