Crowflight Reports on Metallurgical and In-Fill Drilling at Bucko Deposit, Thompson Nickel Belt.TORONTO -- CROWFLIGHT MINERALS INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CML 1. CML - A query language. ["Towards a Knowledge Description Language", A. Borgida et al, in On Knowledge Base Management Systems, J. Mylopoulos et al eds, Springer 1986]. 2. CML - Concurrent ML. ) is pleased to provide the complete list of results from the in-fill and metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. sample drilling on the Bucko buck·o n. pl. buck·oes or buck·os 1. A blustering or bossy person. 2. Irish A young man; a lad. [Alteration of buck1.] Deposit in the Thompson Nickel Belt
Nickel Belt is an informal nickname for the Sudbury region in Northern Ontario, because of the belt of nickel ore deposits found in the area. ("TNB TNB Tenaga Nasional Berhad (electric power utility in Malaysia) TNB Tacoma Narrows Bridge TNB Thomas and Betts TNB Trinitrobenzene TNB Télévision Nationale du Burkina (Burkina Faso) ") with Falconbridge Limited ("Falconbridge"). Partial results from these holes had been previously released, however a number of intersections were not available at the time of original release. President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Thomas Atkins commented on the program, stating: "The high-grade intersections from this work show good continuity in grade and thicknesses with the historic work by Nuinsco and Falconbridge. These results will be incorporated into the new resource block model for the deposit. A 350 kilogram kilogram, abbr. kg, fundamental unit of mass in the metric system, defined as the mass of the International Prototype Kilogram, a platinum-iridium cylinder kept at Sèvres, France, near Paris. sample was extracted from this core and sent for metallurgical testing to be conducted by G&T Metallurgical Service in Kamloops, BC. Both the block model and the metallurgical testing are part of the ongoing feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. on the Bucko project development expected to be completed in the second half of this year."
Under its agreements with Falconbridge, Crowflight has an option to
earn:
1. a 100% interest in the Bucko Nickel Deposit (refer to Figure 1,
Location Map) by completing a feasibility study, arranging
financing
and bringing the deposit into production;
2. a 50% interest in Falconbridge's share of approximately 440 square
kilometres of exploration ground along a 150 kilometre corridor in
the TNB by spending C$22.5 million on exploration to 2008 ($5.5
million of which has been funded). Exploration ground exists
within the Bucko/Bowden and Exploration Claims agreement (press
release of August 18, 2004) an area of 190 square kilometers
located within 30 kilometres of the Bucko deposit and the town of
Wabowden, Manitoba (the "TNB South Project") and within the
Thompson Nickel Belt North agreement (press release of January 12,
2005) an area of 250 square kilometers located adjacent to Inco
Limited's Thompson and Birchtree nickel mines near Thompson,
Manitoba ("TNB North Project"). Refer to Figure 1 - Location Map,
Thompson Nickel Belt Properties
Objectives of the In-fill and Metallurgical Sample Drilling Program
The in-fill and metallurgical sample drill program which commenced in
early 2005 was focused on providing a representative sample of ore-
like material to facilitate metallurgical sampling to determine the
recovery and quality of concentrate from the Bucko deposit. A bulk
350 kilogram sample was extracted from this core along intersections
grade and mineralization typical of that within the previously
defined Indicated resource at the Buck Deposit. In addition,
significant intersections from these holes will be incorporated into
the resource block model which is being updated as part of the
activities for the feasibility study on the development of Bucko
deposit. Table 1 summarizes results from this program. Figure 2 -
Surface Plan and Longitudinal Section of the Bucko Deposit,
illustrates
the location of the holes from this program relative to historical
drilling.
Table 1
Summary of Significant Assay Results, In-fill and
Metallurgical Drill Program Winter 2005
Bucko Deposit, Thompson Nickel Belt
DDH# From To Azimuth Dip Length Nickel
Copper
(metres) (metres) (degrees) (degrees) (metres) (%)
(%)
N05-12A (522422.86E,
6081542.05N)
294.6 314.9 270 -50 20.3 2.23
0.26
incl. 308.4 311.4 3.0 11.06
1.39
330.0 342.3 12.3 1.84
0.11
incl. 330.0 338.4 8.4 2.69
0.17
N05-12B (522422.86E,
6081542.05N)
298.0 326.0 270 -57 28.0 1.10
0.12
incl. 298.0 301.6 3.6 2.57
0.13
336.0 347.2 11.2 1.39
0.09
N05-12C (522422.86E,
6081542.05N)
312.5 345.6 270 -57 33.1 1.29
0.10
incl. 315.2 322.0 6.8 2.42
0.17
324.5(i) 327.7(i) 3.2 1.75
0.07
N05-15A (522326.05E,
6081593.63N)
202.6 228.4 270 -45 25.8 1.28
0.06
incl. 202.6 213.0 10.4 1.85
0.07
221.6(i) 228.4(i) 6.8 1.27
0.08
N05-15B (522326.05E,
6081593.63N)
190.3 194.3 270 -45 4.0 1.21
0.06
198.2 210.5 12.3 1.36
0.09
N05-21A (522333.69E,
6081609.35N)
199.3(i) 205.5(i) 270 -50 6.2 1.81
0.15
215.5(i) 219.3(i) 3.8 1.25
0.06
222.4 229.6 7.2 2.49
0.15
232.7(i) 242.4(i) 9.7 1.83
0.31
N05-21B (522333.69E,
6081609.35N)
202.0(i) 205.0(i) 270 -50 3.0 2.26
0.23
210.7 242.4 31.7 2.43
0.26
incl. 224.8 232.4 7.6 6.40
0.83
Intersections in bold and marked with an (i) represent those not previously reported. Additional updates on results from the winter exploration programs on the Falconbridge-Crowflight TNB South and TNB North projects and on resource delineation and extensional drilling on the Bucko deposit conducted by Crowflight will be announced in the coming weeks. It is expected that as these results are reported, plans will be finalized See finalization. and announced regarding the Falconbridge-Crowflight TNB South and TNB North summer exploration programs. An update on the progress and timing of completion of the feasibility study plus Crowflight's surface and underground exploration programs at Bucko are also expected in the coming weeks. The Bucko Deposit Micon International Limited performed a scoping study on the development of the Bucko deposit (refer to the press release dated October 28, 2004). The study analysed the potential economics of mining a 1.2 million tonne indicated resource grading 2.7% nickel that would yield a recoverable diluted resource of 1.3 million tonnes grading 2.4% nickel that would be mined at the rate of 750 tonnes per day (tpd) to produce approximately 11 million pounds of nickel in concentrate per year plus minor amounts of by-product by·prod·uct or by-prod·uct n. 1. Something produced in the making of something else. 2. A secondary result; a side effect. by-product Noun 1. copper, platinum, palladium palladium, chemical element palladium [Gr. Pallas, goddess of wisdom], metallic chemical element; symbol Pd; at. no. 46; at. wt. 106.42; m.p. 1,554°C;; b.p. 2,970°C;; sp. gr. 12.02 at 20°C;; valence +2, +3, or +4. and cobalt in concentrate. An additional scenario was considered wherein approximately 0.5 million tonnes of inferred resources were added to the indicated resource to yield a recoverable diluted resource of 1.8 million tonnes grading 2.2% nickel to be mined at the rate of 1,000 tpd to produce up to 14 million pounds of nickel in concentrate per year. Both scenarios provided a robust pre-tax economic return assuming a US$4.50 per pound nickel price (nickel is currently selling at about US$7.30 per pound) of from US$34 million (under the 750 tpd scenario) and an internal rate of return (at a 15% discount rate) of 67% to US$50 million (under the 1,000 tpd scenario) and an internal rate of return (at a 15% discount rate) of 86% (refer to the press release dated October 28, 2004). Crowflight is in the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?" midmost of studying the economic feasibility of developing the Bucko Deposit. Upon delivery of the feasibility, Crowflight will earn a 50% interest in the Bucko Deposit. The feasibility study is scheduled for completion early in the second half of 2005. Subject to suitable metal prices and the economics of the feasibility study, Crowflight envisions developing the Bucko Deposit for production of a nickel concentrate in early 2007. Qualified Person/Quality Control Procedures This press release has been prepared and revised by Mr. Jean Lafleur Jean Lafleur is a Canadian businessman famous for his role in the Liberal Party of Canada sponsorship scandal. On April 27, 2007, Lafleur returned to Canada from a two-year stay in Belize, where he was reported to have lived in an exclusive villa and enjoyed fine wines. , P. Geo., Crowflight's VP Exploration, a Qualified Person under the NI 43-101 guidelines, based on data provided by Falconbridge Limited. Fire assays are performed at the ALS-Chemex laboratory in Vancouver on all the samples for Gold and PGE's which undergo an ICP-AES ICP-AES Inductively Coupled Plasma Atomic Emission Spectroscopy ICP-AES Inductively Coupled Plasma Atomic Emission Spectrophotometry finish and Sodium Peroxide sodium peroxide n. A yellowish-white powder used as a germicide, an antiseptic, and a disinfectant. Fusion. All other metals undergo an ICP-AES finish. Standards and blanks are submitted with each sample batch. Crowflight - The Base Metal Builder Crowflight Minerals Inc. is a Canadian junior mining exploration and development company listed on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . The company is focused on nickel, copper and Platinum Group The platinum group (alternatively, the platinum group metals or platinum metals) is a collective name sometimes used for six metallic elements clustered together in the periodic table. Mineral ("PGM PGM Program PGM Pragmatic General Multicast PGM Phosphoglucomutase PgM Program Manager PGM Platinum Group Metal PGM Pagemaker (software) PGM Portable Gray Map PGM Precision Guided Munition ") projects in the Thompson Nickel Belt ("TNB") and Sudbury Basin The Sudbury Basin, also known as Sudbury Structure, is the second largest known impact crater or astrobleme on Earth, and a major geologic structure in Ontario, Canada. The basin is located on the Canadian Shield in the city of Greater Sudbury, Ontario. . The company currently owns and/or has under option more than 672 km2 of exploration and development properties in Manitoba and Ontario. In Manitoba, these properties include: (1) the Bucko Deposit, where the Company can earn a 100% interest by completing a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. (in progress) and finance and begin production on a high-grade underground nickel resource (forecasted production in 2007), and (2) an earn-in option on ten highly prospective properties with Falconbridge Limited, including five on the TNB South Project located within 30 kilometres of the Bucko Deposit (Bucko/Bowden, Resting Lake, Rock Island Lake, Halfway Lake and Gonlin Lake), and six located 100 kilometres to the north on the TNB North Project (Burntwood River, Birchtree South, Birchtree North, Airport, Moak Lake and Strong Lake). In the Sudbury Basin, these properties include: (1) the 100% owned AER Kidd Project adjacent to Inco's Totten Deposit (10.1 million tonnes @ 1.5% Nickel, 2% Cu, 4.8 g/t PGM's), (2) the Airport Property (a 50/50 joint venture with Millstream mill·stream n. The rapid stream of water flowing in a millrace. millstream Noun a stream of water used to turn a millwheel Mines Ltd.) located 4 km south, and on-strike, with Falconbridge's Nickel Rim South Deposit (13.2 million tonnes @ 3.5% Cu, 1.7% nickel, 0.8 g/t Au, 4.1 g/t PGM's), (3) the optioned (100% earn-in) Mystery Offset Dyke Property and (4) the 100% owned Peter's Roost Property. Further information is available on the Company's web site at www.crowflight.com. Statements in this release that are not historical facts are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995.Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Figure 1 Location Map, Thompson Nickel Belt Properties (See Map at http://www2.ccnmatthews.com/database/fax/2000/CMLFigure1.pdf Figure 2 Surface Plan and Longitudinal Section of the Bucko Deposit (See Map at http://www2.ccnmatthews.com/database/fax/2000/CMLFigure2.pdf Total Shares Outstanding: 71.5MM Fully Diluted: 103.5MM 52-Week Trading Range: C$0.14 - $0.41 Crowflight Minerals Inc. (TSX VENTURE:CML) |
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