Mar 11, 2011
Clarification on Resource Estimates from Preliminary Scoping Study on Taysan Project
Manila, Philippines, March 11, 2011 - Crazy Horse Resources Inc. (TSXV: CZH) (the "Company") a Philippines based minerals development company, clarifies its announcement dated March 10, 2010 on the resource estimates from a preliminary economic assessment of its Taysan copper-gold porphyry project in the Philippines.
The Taysan Project is estimated to produce 3.1 billion lbs Cu, 1.5 million ozs Au, 7.4 million ozs Ag and 18.5 million tonnes of Magnetite over the twenty-four (24) year mine life. Annual average production for years 1-4 is estimated at 173 million lbs Cu and 79,400 ozs Au. Average annual production over the life of mine is 129 million lbs Cu, 62,000 ozs Au, 308,000 ozs Ag and 807,000 tonnes of Magnetite (commencing year 2).
The inferred resource estimate used for the economic analysis was 944Mt @ 0.23% Cu; and 0.11g/t Au for 4,720Mlb Cu and 3.4Moz Au (0.10% Cu cut off for reported blocks). The inferred resource estimate was prepared by Ian Taylor B.Sc (Hons Econ Geol) of Mining Associates Pty. Ltd., and will form the basis for a N143-101 compliant resource report for release this month. This inferred resource estimate was based on an initial 10-hole confirmatory drill program completed between October and December 2010 to confirm the tenor of historic drilling on the Taysan Project. The approach to the inferred resource model consisted of wireframing the lenses in section; confirmation and review in flitch slices; grouping the wireframes into domains of similar orientation and grade ranges; tagging and statistical analysis of the drill intercepts by domain; variography; copper-gold regression; estimation using Ordinary Kriging of copper and gold into a block model; analysis and validation guided by geology, informing data, statistical measures, check reporting and confirmation by comparison with recent Diamond core drilling by the Company.
Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Brian Lueck, Chairman of the Company, is the qualified person who has reviewed the geological data summarized in this news release on behalf of the Company.
ON BEHALF OF THE BOARD
President, CEO and Secretary
NEITHER THE 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.
For further information please contact:
KIN Communications Inc.
Crazy Horse Resources Inc.
Suite 906-595 Howe Street,
Vancouver, BC, V6L 1X8
Attention: Darren Devine, Director
You can view the Next News Releases item: Mon Apr 11, 2011, Crazy Horse Resources drills 94m of 0.53% Copper, 0.365 g/t Gold within 389.7m of 0.28% Copper, 0.156g/t Gold at Taysan Project.
You can view the Previous News Releases item: Thu Mar 10, 2011, Preliminary Scoping Study on Taysan Project Indicates a US$734M NPV at 10% (discounted after tax) using 3.00 US/lb
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