Crosshair Updates Newfoundland Projects; Prepares for Drilling at Wings Point.News Editors
VANCOUVER, British Columbia--(BUSINESS WIRE)--April 7, 2004
Crosshair Exploration and Mining Corp. (the 'Company') (TSX TSX Toronto Stock Exchange (TSE before April, 2002)
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TSX True Space Extension VENTURE:CXX) is pleased to provide the following exploration update on the Wings Point-Titan, Glenwood Break, South Golden Promise and North Paul's Pond properties, all strategically located in intensely active exploration areas in central and northern Newfoundland. The Wing's Point-Titan, Glenwood Break, and Golden Promise are all under option from Rubicon Minerals Corporation (RMX RMX Remix (music)
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At Wings Point-Titan, analyses are currently being carried out on 242 channel and panel samples, as well as 29 grab samples Noun 1. grab sample - a single sample or measurement taken at a specific time or over as short a period as feasible
sample - a small part of something intended as representative of the whole collected during extensive trenching activities completed late last year. Assay results for most samples are expected within 7 days, whereas numerous samples that were selected for specialized metallic screening due to the presence of visible gold in the samples will take slightly longer to process. All preparation work and gold analysis is being carried out at Eastern Analytical Limited in Springdale, Newfoundland. All pulps will be submitted to Chemex Limited for ICP (1) (Internet Cache Protocol) A protocol used by one proxy server to query another for a cached Web page without having to go to the Internet to retrieve it. See CARP and proxy server. analysis. These results will be the focus of additional trenching and sampling in early summer of 2004.
A diamond drill program is slated for commencement in May, and will test the Titan prospect. The Titan prospect showed widespread occurrences of visible gold associated with quartz veins and carbonate alteration in gabbros and sentiments. This drill program will be independent of the additional trenching planned for summer 2004.
At the Glenwood Break property, an airborne magnetic and electromagnetic geophysical ge·o·phys·ics
n. (used with a sing. verb)
The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. program completed in late 2003 is currently being evaluated by Dr. William Scott William Scott may refer to:
The survey was flown by Fugro Airborne Surveys DIGHEM Ltd., and consisted of 4240 line km completed at a line spacing of 75 m using helicopter electromagnetic/resistivity and horizontal gradient magnetic systems. An EM sensor height of 30 m was used. The work was monitored by independent geophysicist Mr. Bob Lo, P. Eng P. ENG Professional Engineer
P. ENG process engineer . from Toronto, Ontario, to ensure high quality data collection and processing as part of a QA/QC QA/QC Quality Assurance/Quality Control program.
Currently, a program of detailed soil sampling is underway in the Rocky Pond area in the north-eastern portion of the property where float sampled late last year returned 13.5 g/t Au. An intensive prospecting and geochemical program is planned for high priority target areas upon receipt of the airborne interpretation expected by April 15th, 2004, with a view to determining drill targets for a summer drill program.
At South Golden Promise, a comprehensive review of the airborne magnetic and electromagnetic survey covering Block 1 (contiguous with the Placer Dome/Rubicon Golden Promise JV) and Block 2 (5 kilometres southwest of Block 1) is also being prepared by Dr. Scott. The South Golden Promise airborne survey was completed as part of the larger Rubicon/Placer Dome Golden Promise survey, which was also flown by Fugro Airborne Surveys DIGHEM Ltd., under the same specifications as the Glenwood survey described above. This review will help plan an aggressive ground program to commence as soon as field conditions allow by May, 2004.
At the 100% owned North Paul's Pond property, samples from a recently completed basal till program are being processed at Overburden o·ver·bur·den
tr.v. o·ver·bur·dened, o·ver·bur·den·ing, o·ver·bur·dens
1. To burden with too much weight; overload.
2. To subject to an excessive burden or strain; overtax.
1. Drilling Management in Nepean, Ontario Nepean (pronounced "ne-PEE-yin") was a local municipality adjacent to Ottawa, Ontario, Canada until it was amalgamated with the 10 other municipalities that formed the Regional Municipality of Ottawa Carleton in 2001 to become the new city of Ottawa. , where gold grain recovery, grain description, as well as heavy mineral concentrates will be produced from each of the 10-12 kg samples. The heavy mineral concentrates will be analyzed at an accredited accredited
recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria.
cattle herds which have achieved a low level of reactors to, e.g. assay lab. The results will be used to focus detailed exploration including trenching programs scheduled for early summer.
The property straddles a significant structural feature that hosts known mineralization Mineralization
The process by which the body uses minerals to build bone structure.
Mentioned in: Rickets
n the bioprecipitation of an inorganic substance. at the Goose Prospect, which was discovered by Noranda in the 1980's. The Goose prospect returned drill intercepts of up to 3.14 g/t over 2.5 m and 7.54 g/t gold over 1.0 m. The till sampling program was completed over a 2.5 km x 1.5 km area of gold bearing float discovered by Noranda along strike from the Goose prospect. Results reported by Noranda from the float samples range from 3.9 g/t to 10.8 g/t gold, including some visible gold.
The Company is planning an aggressive exploration program on all of the Newfoundland projects in 2004, with a heavy emphasis on trenching and drilling. All work is being supervised by Timothy Froude, P. Geo., General Manager and Chief Geologist for the Newfoundland Projects, and is the Qualified Person as defined under the Canadian Securities Administrators' National Instrument 43-101.
ON BEHALF OF THE BOARD
Mark J. Morabito, President
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