Crowflight Drilling at Halfway Lake Intersects 13 Metres Grading 1.6% Nickel
29 Février 2008 - 1:30PM
Marketwired
TORONTO, ONTARIO (TSX VENTURE: CML) is pleased to announce assay
results for two of the four holes completed on its Halfway Lake
project, located in close proximity to the Bucko Project south of
Thompson, Manitoba. The most notable result is Hole HW08-02 that
intersected 13.03 metres (42.8 feet) grading 1.58% nickel.
Nine holes totalling 4,800 metres have been completed since the
commencement of the 2008 winter exploration activities on
Crowflight's Xstrata Nickel joint venture (JV) properties in the
Thompson Nickel Belt in January. Assay results are currently
available for two of the nine completed holes. Please refer to
Table 1 for a presentation of the assay results and Figure 1 for a
location map.
Greg Collins, Crowflight's Vice President of Exploration,
commented on the results stating: "We are pleased by the initial
results from our program at Halfway Lake. The intersection
represents some of the highest grade material encountered to date
at Halfway Lake and expands the limits of known mineralization
up-dip from the known resource."
Table 1.
Summary Assay Results 2008
Halfway Lake Deposit, Thompson Nickel Belt
--------------------------------------------------------------------------
Core Core
Drill Hole From To Length Length Nickel Copper PGE's(1)
---------- ---- -- ------ ------ ------ ------ --------
(metres) (metres) (metres) (feet) (%) (%) (gpt)
HW08-01 348.20 351.60 3.40 11.2 0.90 0.08 0.11
And 366.00 370.00 4.00 13.1 0.69 0.05 0.13
HW08-02 334.22 347.25 13.03 42.7 1.58 0.09 0.26
Incl. 334.22 339.45 5.23 17.2 1.76 0.07 0.24
Incl. 338.45 339.45 1.0 3.3 2.44 0.05 0.23
--------------------------------------------------------------------------
(1) Combined platinum and palladium values
Intersection intervals reported are core lengths, actual true widths
are unknown at this time but are generally 70 to 80% of core length.
Once known, true widths are calculated for each intersection. These
could vary somewhat from time to time as the zones are re-interpreted,
thereby altering the geometry.
Presently three surface drill rigs supplied by More Core Diamond
Drilling Services Ltd. of Stewart, BC are engaged in drilling at
Halfway and Bucko Lake. Results from this program will be released
over the coming weeks as assay results become available. The
Company plans to complete 25 holes for a total of 10,000 metres
during the entire winter 2008 drilling season on the Xstrata
JV.
Crowflight expects to finalize planning for the Pure
Nickel/Crowflight Manibridge JV exploration program in the coming
weeks, with activities expected to commence late in the spring of
2008.
Crowflight plans to spend $2.5 million on exploration on the
Xstrata JV (funded 100% by Crowflight), $2 million on delineation
and definition drilling underground at Bucko and $2 million on the
Manibridge JV (funded 50% by Crowflight and 50% by Pure Nickel)
during 2008.
Qualified Person/Quality Control Procedures
This press release has been prepared and reviewed by Mr. Greg
Collins, P.Geo (APGO/APEGM), a Qualified Person under the NI 43-101
guidelines. Fire assays were performed at the ALS-Chemex laboratory
in Vancouver on all the samples for Gold and PGE's which undergo an
ICP-AES finish and Sodium Peroxide Fusion. All other metals undergo
an ICP-AES finish. Standards and blanks are submitted with each
sample batch.
Crowflight Minerals - Canada's Next Nickel Producer
Crowflight Minerals Inc. (TSX VENTURE: CML) is a Canadian junior
mining exploration and development company focused on nickel,
copper and Platinum Group Mineral ("PGM") projects in the Thompson
Nickel Belt and Sudbury Basin. The Company currently owns and/or
has under option approximately 800 square kilometres of exploration
and development properties in Manitoba and Ontario.
Crowflight's priority is to bring the Bucko Nickel deposit
located near Wabowden, Manitoba into production by mid-2008.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the
information in this press release constitutes "forward-looking
information" within the meaning of Canadian securities law. Such
forward-looking information may be identified by words such as
"plans", "proposes", "estimates", "intends", "expects", "believes",
"may", "will" and include without limitation, statements regarding
the Company's business activities and plans. There can be no
assurance that such statements will prove to be accurate; actual
results and future events could differ materially from such
statements. Factors that could cause actual results to differ
materially include, among others, metal prices, competition, risks
inherent in the mining industry, and regulatory risks. Most of
these factors are outside the control of the Company. Investors are
cautioned not to put undue reliance on forward-looking information.
Except as otherwise required by applicable securities statutes or
regulation, the Company expressly disclaims any intent or
obligation to update publicly forward-looking information, whether
as a result of new information, future events or otherwise.
Total Shares Outstanding: 250.7MM
Fully Diluted: 282.7MM
52-Week Trading Range: C$0.45 - $1.35
To view the attached figure, please visit the link below:
http://media3.marketwire.com/docs/crowflight228.pdf
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Crowflight Minerals Mike Hoffman President and CEO
(416) 861-2964 Crowflight Minerals Heather Colpitts Manager,
Investor and Public Relations (416) 861-5803 Email:
info@crowflight.com Website: www.crowflight.com
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