Cresval Announces Results of Airborne Geophysical Survey on MIKE Project in Southwest British Columbia
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/01/16 -- Cresval Capital Corp. ("Cresval" or "the Company") (TSX VENTURE: CRV) reports results from the Company''s high resolution airborne magnetic and radiometric geophysical survey completed over its 100% owned MIKE Project (formerly the "Bridge River Project ") in southwest British Columbia. The 11,127-hectare MIKE Project adjoins Amarc Resources Ltd.''s IKE Project, which is the subject of a joint venture with Thompson Creek Metals Company Inc. The 2014 IKE porphyry copper-molybdenum-silver discovery is located only 10 km due north of MIKE (see regional map below). 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.)
The airborne survey indicates that the Russnor, Copper Plateau and Windy Copper showings on the MIKE Project correspond to larger zones of elevated potassium over thorium ratios (interpreted as potassic alteration, which is generally coincident with porphyry copper style mineralization). The potassic zones occur at the junction of regional northwest trending vertical gradient magnetic lineaments with northeast trends; such fault intersections are favorable sites for the development of significant mineralization.
In the central property area a 1.5 by 0.75 km wide potassic zone incorporates 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 with the Russnor showing along its eastern margin. The Russnor showing covers a copper bearing intrusion breccia with reported historic results including 1.38% Cu over 30.5 metres in an old adit, 0.57% Cu over 60 metres from a canyon exposure and 0.30% Cu over 36.6 metres in diamond drilling. Similar geophysical signatures are also evident at the Copper Plateau and Windy Copper showings.
"Management is highly encouraged by the results of the airborne survey," said Lee Ann Wolfin, President of Cresval. "The survey outlines larger areas of porphyry copper potential that incorporate known geochemical targets and mineralization. The drill results recently announced by Amarc Resources from its IKE copper-molybdenum-silver porphyry discovery next door ''with mineralization open to expansion in all lateral directions'' (Amarc news release December 9, 2015) indicates that high confidence in our project is justified."
Follow up will include ground induced polarization geophysics and detailed mapping over the larger geophysical and, in part, coincident geochemical anomalies to delineate drill targets.
The airborne survey on the MIKE Project was completed by Precision GeoSurveys Inc. of Vancouver, British Columbia, which specializes in low level airborne geophysical surveys in mountainous terrain.
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.
A map is available at the following address: .
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 .
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.
Contacts:
Cresval Capital Corp.
Lee Ann Wolfin
President
(604) 913-7788
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Datum: 01.02.2016 - 07:30 Uhr
Sprache: Deutsch
News-ID 1412299
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