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Crystal Commences Gold Drilling Program(October 04, 2017)
VANCOUVER, British Columbia, Oct. 04, 2017 (GLOBE NEWSWIRE) -- CRYSTAL EXPLORATION INC. (the “Company” or “Crystal”) (TSXV:CEI) (OTCQB:CYRTF) (WKN:A2ATHU) is pleased to announce mobilization for exploration work at its 100% owned Contwoyto Gold Project in Nunavut, Canada. The work program will consist of up to 500 meters (m) of core drilling and include ground magnetic and HLEM geophysical surveys. Focus of work will be to validate historical work and to examine new zones for continuity while better understanding the trend potential.
Contwoyto Gold Project
The Project holds two (2) mining leases and two (2) mining claims covering over 60km2 located adjacent to the Lupin Gold Mine. Four (4) gold occurrences have been identified through historical work named A3, FIN, Shallow Bay and Butterfly/Dune Gold. Each of the gold occurrences contains significant results from historical exploration that have not been the subject of modern day exploration including horizontal loop electromagnetic conductors (“HLEM”) both adjacent and along strike.
Key Historical Gold Intersections
|Drill Hole No.||Width (m)||Gold (g/t)||Rock Type||Operator|
|DDH 87-13||4.86||63.09||Banded Iron Formation||Cominco Ltd., 1987|
|DDH 93-03||2.47||38.35||Banded Iron Formation||Echo Bay Mines, 1993|
|DDH 93-01||4.55||20.11||Banded Iron Formation||Echo Bay Mines, 1993|
|DDH F-93-12||3.05||11.58||Banded Iron Formation||Echo Bay Mines, 1993|
|DDH S-3-84||3.6||35.19||Banded Iron Formation||Bow Valley Industries Ltd., 1984|
APEX Geoscience PartnershipCrystal has partnered with Apex Geoscience Ltd. (“Apex”) to compile an extensive and comprehensive data package and will include geological modelling for its Contwoyto Gold Project. Apex is a world-class team of geoscience professionals who have vast experience operating in Nunavut over the past twenty-five (25) years.
The Contwoyto Gold Project also holds diamond bearing potential, evidenced by a High Resolution Airborne Magnetic Survey by Fluxgeo (1993) that identified 5 high priority kimberlite targets which require follow-up prospecting, sampling and ground geophysical surveying. Historical regional till samples recovered kimberlite indicator minerals including pyrope garnets, eclogitic garnets, chrome diopside, olivine, chromite and Ilmenite which require additional exploration.
Jim Greig, President & CEO commented, “The Crystal team is excited to drill the gold ground and move toward growing gold ounces across the project area. The gold occurrences were drilled nearly 30 years ago using a 5 g/t gold cutoff when gold was near $400/oz. We believe there is potential to expand the zones at strike, width and depth. The gold zones were historically worked for shallow, near surface gold to be milled at the nearby Lupin Gold Mine. New and existing gold zones remain untested at depth.”
About Crystal Exploration Inc.
Crystal is a Canadian gold & diamond exploration company with its common shares listed for trading on the TSX Venture Exchange. Crystal is backed by proven and seasoned resource sector professionals, who have a track record of advancing exploration projects from grassroots through to production scenarios. The technical content of this news release have been reviewed and approved by Dean Besserer, P.Geol., the Technical Advisor of the Company and a Qualified Person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “Jim Greig”
President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
EMAIL: [email protected]
TELEPHONE: 604 260 6977