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.
Holes CZT012 to CZT018 continue to confirm the Taysan Project's geological and grade models, confirming the near surface Copper-Gold-Silver ore body. They also significantly extend the ore body at depth.
CZT012 results below 530 metres extend the ore body an additional 133 metres at depth.
CZT013 results below 235 metres extend the ore body an additional 80 metres.
CZT014 ended in mineralization and results below 420 metres shows higher copper and gold grades than other, previous holes on this section.
CZT015 assay results from 90 - 120m show higher near-surface copper and gold grades than other drill holes on this section.
CZT016 results below 320 metres extend the ore body and additional 100 metres at depth.
CZT017 finished in mineralization at 236.7m and remains open at depth.
CZT018 tested an aeromagnetic and ground magnetic anomaly to the north of the Taysan Project ore body which was interpreted to be magnetite mineralization. The hole intersected altered volcanic rock for most of its length, explaining the magnetic anomaly. However, significant ore grade mineralization was not encountered except for 8 meters 0.23% Cu and 0.105 g Au/t from 72 to 80 meters depth.
Results from the drilling program to date clearly show that the Company's belief in the presence of a significant Copper-Gold-Silver deposit is well founded.
The Taysan Project Scoping Study report was completed ahead of schedule in March and will be incorporated into the 43-101 compliant resource estimate to be published before the end of April 2011. The 18-months combined pre-feasibility and bankable feasibility study has commenced and is ahead of schedule.
A summary of the results from holesCZT012 to CZT018 is as follows:
Location Map of Drill Collars for all CZH Drill Holes Reported to Date
Johan Raadsma, President and CEO of Crazy Horse states, "We are extremely excited about the continued confirmation of the preliminary model and the addition of significant silver grades, which historically have not been incorporated into the project valuation. We also look forward to exploration results in the near future."
Drilling is carried out by Quest Exploration Drilling (Philippines) Inc. using Edson 3000 and LF70 drill rigs and a triple tube diamond core drilling system. All holes are started in PQ (150-200m) then continued in HQ. All core is split using a diamond-bladed drill-core saw and always sampled from the (true) left side of the core. The remaining half of the core is sealed in plastic bags in a nitrogen atmosphere and stored in a covered, guarded core shed. Core samples are bagged in new polyethylene, UV stable plastic bags, sealed with a plastic tie, numbered outside and have a tag placed inside the bag. All samples are accompanied by Asian Arc personnel from site to the McPhar Laboratory under secure "Chain of Custody" procedures. Samples are crushed to 85% <2mm then 1kg is split out and pulverised in an LM2 Puck and Bowl Pulveriser to 90% <75um. Gold is assayed by Fire Assay (50g charge) with AAS finish (PM6). Cu, Ag, As, Pb, Zn, Mo, Al, Ca, Fe, K and S are assayed by 4 Acid Digest (HCl / HNO3 / HClO4 / HF) Ore grade analysis with ICP-AES finish (ICP-3). Sample rejects are returned from the McPhar Laboratory under secure "Chain of Custody" procedures by Asian Arc staff and also stored in the core shed in heat sealed plastic bags in a nitrogen atmosphere. McPhar Geoservices (Phil), Inc. is ISO 17025:2005 accredited and is a member of the International Intertek Laboratory Group.
A copy of the National Instrument 43-101 ("NI 43-101") report by R.Sowerby, of Geosynthesis Pty Ltd. entitled "A Technical Review of Exploration and Resource Estimates of the Taysan Project, Batangas Province, Philippines", in collaboration with Mining Associates Inc. of Australia can viewed under the Company's profile on SEDAR (www.sedar.com).
The Taysan Project contains a drill defined copper-gold porphyry deposit, and is comprised of two mining exploration permits and three mining exploration permit applications (permits: EP-IVA-005 and EP-IVA-016, and permit applications: EPA-IVI-108, EPA-IVI-111 and EPA-IVA-081) over five contiguous claim blocks covering a combined total area of 11,254 hectares. The Taysan Project hosts a large and only partly explored copper-gold porphyry deposit similar to other copper-gold porphyry deposits previously mined in the Philippines. The Taysan Project is located in southern Luzon, Philippines in a well-developed mining province and readily accessible by road located 20km east of the provincial capital and deep-water commercial port of Batangas City.
Brian Lueck P.Geo, 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.
This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Crazy Horse Resources Inc. Statements regarding mineral exploration and development operations and objectives are subject to risk, including, but are not limited to, exploration and geologic risk, inflation and costs of goods and services, property title issues and geo-political risk including regulatory approvals. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Crazy Horse Resources Inc. does not assume the obligation to update any forward-looking statement, except as required by applicable law.
For further information please contact:
KIN Communications Inc.
You can view the Next News Releases item: Thu Apr 28, 2011, Crazy Horse Files Technical Report on a Mineral Resource Estimate and Preliminary Economic Assessment of the Taysan Project
You can view the Previous News Releases item: Fri Mar 11, 2011, Clarification on Resource Estimates from Preliminary Scoping Study on Taysan Project
You can return to the main News Releases page, or press the Back button on your browser.