Crowflight Updates Exploration Activities in the Sudbury Basin and Announces Conference Call on Wednesday, March 24, 2004, at 10 A.M. E.S.T.Business Editors TORONTO--(BUSINESS WIRE)--March 23, 2004 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. ) has scheduled a 10,000 metre Phase 1 diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral program at the 100% owned AER-Kidd Property. Drilling is following up a series of near surface and deep geophysical anomalies believed to be in part semi-massive and massive sulphide mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. similar to Inco's adjacent Totten deposit (mineral resource of 10 million tonnes grading 1.4% Ni, 1.9% Cu and 4.7 g/t PGE's). Crowflight intersected its first 4.2 metre true width semi-massive to massive sulphide intersection in Hole #3 (DDH-WO-03AW1), as outlined in the Press Release dated February 8, 2004, confirming the potential for a deposit similar to Totten. CONFERENCE CALL DETAILS: The call will take place on Wednesday March 24, 2004 at 10:00 am EST EST electroshock therapy. EST abbr. electroshock therapy and is expected to last for approximately 30 minutes. The call will include a presentation by management, followed by a question and answer period. Interested parties are invited to participate in the meeting by calling one of the following telephone numbers: Date : Wednesday March 24, 2004 Time : 10:00 am EST Local callers: 416-405-9310 North American callers: 1-877-211-7911 International callers: +1-416-405-9310 An archive recording of the call will be available following completion of the call on the Crowflight website at www.crowflight.com. The management and Board of Crowflight is confident that the AER-Kidd property has the potential to host significant mineralization similar to Inco's Totten Deposit. Geophysics completed at AER-Kidd indicates that the host mineralization is likely at depths from 300 metres to minimum 1500 metres below surface. The Company has a 10 hole program in progress with three drills at the site. In addition, each hole is wedged several times to maximize value from each intersection. One of the objectives of this program is to intersect Quartz Diorite Quartz diorite is an igneous, plutonic (intrusive) rock, of felsic composition, with phaneritic texture. Feldspar is present as plagioclase (typically oligoclase or andesine) with 10% or less potassium feldspar. Quartz is present at between 5 to 20% of the rock. (QD) of the Worthington Offset, which hosts the mineralization. The semi-massive and massive sulphide mineralization exists within a "halo" of lower grade nickel-copper mineralization with the QD. While the drilling has progressed well, Crowflight has encountered several technical difficulties associated with deep drilling. In order to ensure the program is progressing accurately and on target, the drilling often involves wedging and re-drilling to mitigate hole deviation. In addition, the targets are intersected with barren Gabbro gabbro: see basalt. gabbro Any of several medium- or coarse-grained rocks that consist primarily of plagioclase feldspar and pyroxene. Gabbros are found widely on the Earth and on the Moon. dykes, again consistent with the experience along the Worthington Offset, which also requires frequent in-hole geophysical surveys and re-wedging of the holes to bypass these barren dykes. Specific highlights of the drilling results to date are: -- The first drill hole (DDH-WO3-01) was completed and results were announced in the Press Release dated December 5, 2003. The hole intersected the QD and confirmed the existence of the "halo" with minor copper-nickel mineralization. Downhole Transient Electromagnetic (TEM TEM 1. transmission electron microscope. 2. triethylenemelamine. 3. transmissible encephalopathy of mink. ) indicated a strong anomaly in proximity, towards the Audiofrequency Magnetotelluric Anomaly (AMT See vPro. ) "D", being drilled with Hole #2 (DDH-WO3-02). -- Hole #2 (DDH-WO3-02) has not yet reached its target (a significant TEM anomaly at a 1 kilometre depth), including wedged holes DDH-WO3-02AW1 and W2. Major technical difficulties with hole deviation and wedge emplacement have blocked the latest attempt to reach the target. Another attempt is being made via a longitudinal drill hole in the QD (DDH-WO3-06). Management expects the hole to be completed within the next 4 to 5 weeks, barring any additional difficulties. -- Hole #3 (DDH-WO3-03AW1) was completed in late January 2004 and indicated that there is semi-massive and massive sulphides similar to the Totten deposit with potentially economic grades (refer to the Press Release dated February 8, 2004). Crowflight has conducted additional drilling in the vicinity (DDH-WO3-03AW1, W2 and W4) to determine the extent of the mineralization, but was blocked out by barren Gabbro dykes. The drill is undergoing major repairs and is expected to be replaced by another rig specifically made for deep drilling within 4 to 5 weeks. -- DDH-WO3-04 and two wedged holes (DDH-WO3-04W1 and W2) were drilled to the planned depth but intersected "halo" sulphides and barren Gabbro dykes. However, there is a significant off-hole TEM anomaly some 50 to 60 metres east of the most recent wedged hole (DDH-WO3-04W2), which will be drill tested in the coming weeks. -- Crowflight is also drilling a shallow AMT anomaly under the Rosen Underground Workings, which was mined prior to 1968. Hole #5 (DDH-WO3-05) is currently at a depth of 500 metres of the planned 625 metre drill hole. This hole is being drilled longitudinally in the QD, and it may intersect several sulphide lenses. This hole is expected to be completed in early April. Further drilling will take place based on results from the current program. CROWFLIGHT CONDUCTS GEOPHYSICAL SURVEY OF POSSIBLE EXTENSION OF THE AER-KIDD MINERALIZATION BELOW PERCH LAKE Perch Lake may refer to:
A ground AMT geophysical survey by Phoenix Geophysics Limited was completed over the north-east portion of the property, to cover a 600 metre length of the sulphide bearing Worthington Offset that was not previously surveyed. The AMT method is used to define stringer, semi-massive to massive sulphides in near surface to depths of 1,000 metres. The AMT coverage now covers the entire Worthington Offset on the AER-Kidd Property, a distance of 1.8 km, from Inco's Totten Property to the west, to its McIntyre Property, to the east. Results from the survey will be available by the end of March and anomalies will be drilled as part of the Phase 1 program. "We are optimistic that there is an additional AMT anomaly under Perch Lake, which could increase the potential of the property," said 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. , President of Crowflight. OTHER PROJECTS Crowflight signed the geophysical contract with FUGRO Airborne Surveys for the upcoming airborne EM survey, starting in April 2004, using the Megatem II system on the Airport Joint Venture Property (50% Crowflight Minerals Inc.; 50% 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.) and the Marble Mountain Marble Mountain may refer to: Mountains
The Airport Joint Venture Property is located on the south-east rim of the Basin about 4 km south-east of Falconbridge's Nickel Rim South Cu-Ni-Co-PGE's Deposit containing 8 million tonnes grading 1.7% Ni, 4.5 % Cu and 5 g/t Pt+Pd. The Marble Mountain Property Option is located 30 km north-east of Sudbury in Parkin parkin Noun Brit a moist spicy ginger cake usually containing oatmeal [origin unknown] Township, and hosts quartz diorites and sulphide mineralization that Crowflight believes is a previously unknown extension of the Parkin Offset. The Milnet Mine, a previous Ni-Cu-PGE producer, sits adjacent to the property. Surface grab samples from the property reveal grades up to 16% Cu, 0.06% Ni, 19 g/t Pt, 9 g/t Pd, 15 g/t Au and 377 g/t Ag. COMMENTS BY THE CHAIRMAN "The Board and management of Crowflight is committed to building a strong presence in the Sudbury Camp and exploring the AER-Kidd property" stated Gerry McCarvill, Chairman. "We believe the AER-Kidd is undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. and has the potential to become one of the most exciting nickel / 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 Canada." Mr. McCarvill continued "This property has the ability to host significant mineralization similar to the Totten Deposit and its potential at depth and on strike is tremendous. The Company has a strong balance sheet with over $5 million in cash, no debt, a strong management team headed by an experienced geologist, Jean Lafleur, with support from a highly technical Board that includes Keith Minty, P. Eng P. ENG Professional Engineer P. ENG process engineer ., Dr. Bill Pearson, P. Geo. and Stan Bharti, P.Eng." Statements in this release that are not historical facts are "forward-looking statements" 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". NOTE: There are two Maps available on CCNMatthews' website at: http://www2.cdn-news.com/database/fax/2000/CRMAP323.doc 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. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion