Crazy Horse Drills 164m of 0.36% Copper, 0.09 Grams Gold and 1.14 Grams Silver at Taysan Copper-Gold Project
03.08.2011 | Marketwired
HIGHLIGHTS:- CZT029 intersects 324.5m of 0.27% Cu, 0.04 g/t Au and 0.94 g/t Ag from 23.5m to 348m
- CZT037 intersects 144m of 0.34% Cu, 0.10 g/t Au and 1.44 g/t Ag from 142m to 286m
- CZT042 intersects 541.4m of 0.24% Cu, 0.08 g/t Au and 0.78 g/t Ag from 36m to 577.4m including 164m of 0.36% Cu, 0.09 g/t Au, 1.14 g/t Ag from 286 to 450m
- The deposit remains open and drilling continues with six diamond drill rigs.
MANILA, Aug. 3, 2011 - Crazy Horse Resources Inc. (TSX VENTURE:CZH) (OTCQX:CRZHF) (the "Company") a Philippines based mineral exploration company, announces assays from the 29th to the 44th drill holes of the feasibility drilling program on its Taysan copper-gold porphyry project.
Robert Pease, Chairman of Crazy Horse states, "The on-going positive results further substantiate the Taysan deposit as a reliable, predictable and growing deposit. A very low waste to ore ratio and proximity both to port and to end-users, gives this low-grade deposit a significant competitive advantage for low cost copper production".
Highlights of Drill Results
On section 19160N, drill hole CZT042 (intersecting 541.4m of 0.24% Cu, 0.08 g/t Au and 0.78 g/t Ag from 36m to 577.4m, including 164m of 0.36% Cu, 0.09 g/t Au, 1.14 g/t Ag from 286 to 450m) confirms the deeper continuation (from 252m – 398m) of the "Taysan Breccia", a magmatic hydrothermal breccia unit occurring at the top of mineralised diorite porphyry intrusives. Taysan Breccia usually occurs in close proximity to quartz magnetite veining and the two styles probably form a continuum of potassic alteration.
On section 19200N, drill hole CZT029 (intersecting 324.5m of 0.27% Cu, 0.04 g/t Au and 0.94 g/t Ag from 23.5m to 348m) is a deep drill hole to the base of the 24 year pit design. CZT029 confirms the existence of copper mineralization from the base of tuff (20m thick) to 612m which corresponds with the known extent of copper mineralization below the 24 year pit design.
On section 19520N, drill hole CZT037 (144m of 0.34% Cu, 0.10 g/t Au and 1.44 g/t Ag from 142m to 286m) intersected Taysan Breccia and the associated quartz magnetite and sulphide veins containing higher grade copper and gold mineralization. This drill hole is mineralised to the end of hole where 21m of 0.28% Cu, 0.11 g/t Au, 0.73 g/t Ag and 29ppm Mo was encountered from 376 to 397m, which corresponds well with assays from drill hole CZT001.
A summary of the results from holes CZT029 to CZT044 is as follows:
Drill
Hole Cu Au Ag Mo Cutoff
No From To Interval (%) (g/t) (g/t) (g/t) Cu (%)
CZT029 23.50 348.00 324.50 0.28 0.05 0.98 50 0.1
including CZT029 92.00 106.00 14.00 0.44 0.09 0.83 403 0.3
and incl CZT029 94.00 96.00 2.00 0.72 0.12 0.90 2054 0.7
including CZT029 126.00 152.00 26.00 0.40 0.05 1.84 72 0.3
including CZT029 188.00 194.00 6.00 0.34 0.02 1.00 36 0.3
including CZT029 214.00 242.00 28.00 0.33 0.03 1.11 23 0.3
including CZT029 252.00 296.00 44.00 0.32 0.03 0.89 22 0.3
including CZT029 316.00 322.00 6.00 0.40 0.10 1.90 11 0.3
CZT029 364.00 612.00 248.00 0.24 0.08 0.56 28 0.1
including CZT029 368.00 420.00 52.00 0.37 0.13 1.07 23 0.3
andincl CZT029 382.00 384.00 2.00 0.93 0.043 1.9 22 0.7
CZT029 460.00 466.00 6.00 0.32 0.10 0.57 82 0.3
CZT030 72.00 232.00 160.00 0.20 0.08 0.77 33 0.1
including CZT030 174.00 180.00 6.00 0.33 0.13 1.07 17 0.3
including CZT030 194.00 200.00 6.00 0.33 0.12 1.23 47 0.3
CZT031 36.00 52.00 16.00 0.15 0.07 0.70 8 0.1
CZT031 74.00 125.00 51.00 0.13 0.07 0.39 31 0.1
CZT032 48.00 92.00 44.00 0.19 0.01 1.19 19 0.1
CZT032 172.00 310.00 138.00 0.24 0.09 1.08 30 0.1
including CZT032 230.00 238.00 8.00 0.37 0.23 1.78 17 0.3
including CZT032 280.00 294.00 14.00 0.35 0.17 0.96 44 0.3
CZT033 58.00 88.00 30.00 0.13 0.05 0.64 18 0.1
CZT033 98.00 282.50 184.50 0.22 0.14 0.41 41 0.1
including CZT033 230.00 264.00 34.00 0.35 0.22 0.55 30 0.3
CZT034 56.00 72.00 16.00 0.11 0.03 0.35 11 0.1
CZT034 116.00 201.00 85.00 0.17 0.07 0.48 145 0.1
CZT035 130.00 138.00 8.00 0.12 0.06 0.28 60 0.1
CZT036 60.00 138.00 78.00 0.14 0.06 0.50 30 0.1
CZT036 166.00 172.00 6.00 0.11 0.04 0.13 40 0.1
CZT037 31.20 39.00 7.80 0.26 0.05 0.05 11 0.1
CZT037 66.00 74.00 8.00 0.19 0.03 0.15 53 0.1
CZT037 142.00 286.00 144.00 0.34 0.10 1.44 7 0.1
including CZT037 154.00 216.00 62.00 0.38 0.16 1.49 7 0.3
including CZT037 240.00 270.00 30.00 0.47 0.03 2.38 9 0.3
and incl CZT037 258.00 264.00 6.00 0.84 0.02 3.82 3 0.7
CZT037 316.00 340.00 24.00 0.15 0.06 0.56 24 0.1
CZT037 352.00 397.00 45.00 0.19 0.08 0.52 35 0.1
CZT039 64.40 246.00 181.60 0.18 0.04 0.92 25 0.1
including CZT039 200.00 210.00 10.00 0.54 0.12 0.76 19 0.3
and incl CZT039 208.00 210.00 2.00 1.46 0.06 0.3 20 0.7
CZT040 19.70 44.00 24.30 0.25 0.10 0.34 2 0.1
including CZT040 19.70 28.40 8.70 0.37 0.14 0.41 0 0.3
CZT040 72.00 190.00 118.00 0.17 0.05 0.67 27 0.1
CZT040 202.00 212.00 10.00 0.23 0.03 0.75 140 0.1
CZT040 220.00 261.10 41.10 0.19 0.04 0.55 70 0.1
CZT041 50.00 214.00 164.00 0.15 0.06 0.68 21 0.1
CZT041 222.00 364.00 142.00 0.20 0.06 0.55 11 0.1
including CZT041 340.00 348.00 8.00 0.36 0.14 1.13 13 0.3
CZT042 36.00 577.40 541.40 0.24 0.08 0.78 25 0.1
including CZT042 286.00 450.00 164.00 0.36 0.09 1.14 41 0.3
including CZT042 488.00 520.00 32.00 0.37 0.15 0.93 20 0.3
CZT043 66.20 208.00 141.80 0.18 0.09 0.63 49 0.1
CZT044 53.60 112.00 58.40 0.15 0.08 0.71 68 0.1
CZT044 120.00 356.00 236.00 0.19 0.10 0.62 24 0.1
including CZT044 334.00 336.00 2.00 1.21 0.71 3.2 13 0.7
including CZT044 346.00 352.00 6.00 0.36 0.37 1.23 2 0.3
To view "Location Map of Drill Collars for all Crazy Horse Drill Holes Reported to Date", please visit the following link:
http://media3.marketwire.com/docs/chr_fg1_803.pdf
Summary of Drilling Results
On section 19760N drill hole CZT040 confirms the copper mineralization reported in the nearby Benguet and Freeport drill holes.
On section 18800N drill holes CZT031 extends the known copper mineralization up to the base of the tuff (43m thick) and CZT035 shows a zone of waste in the south east corner of the proposed open pit.
On section 18860N drill holes CZT034 and CZT036 continue to confirm the existence of flat lying layered copper mineralization and waste zones and help with their definition. CZT034 bottomed in copper mineralization beneath the 10 year pit boundary confirming previously reported grades in nearby BT054.
On section 18920N drill holes CZT033 and CZT043 confirm continuous copper mineralization from the base of the tuff (45m thick) to the end of the hole below the 10 year pit boundary.
On section 18980N drill hole CZT044 confirms continuous copper mineralization from the base of the tuff (40m thick) to the end of the hole, below the 10 year pit boundary. CZT030 also shows strong intersections of copper mineralization from the base of the tuff and helps define the contact of the intrusive with volcanogenic sediments, or country rock, where copper grades are generally below ore grade.
On section 19040N drill hole CZT039 confirms continuous copper mineralization from the base of the tuff (40m thick) to the end of the hole, below the 10 year pit boundary. CZT039 was a twin of CZT024 which encountered a large faulted zone at the margin of the intrusive and failed to get acceptable core recovery. CZT039 achieved acceptable core recovery.
On section 19100N drill hole CZT032 confirms near surface copper mineralization, and the existence of an internal waste zone known from other sections. It also intersected a deeper copper mineralized zone from 172m – 310m, which was also noted in drill holes CZT022 and CZT027, also on that section. Drill hole CZT032 also confirms the contact between intrusive rock and the volcanogenic sediments, occurring at a depth of 372m.
Sampling Protocols
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, As, Mo, Feand S are assayed by ore grade analysis, 3 Acid (HCl / HNO3 / HClO4) Digest with ICP-AES finish (ICP-2). Ag is analysed by ore grade analysis (HNO3 / HClO4) digest with AAS finish (2A1/AAS). 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.
Taysan Project
A National Instrument 43-101 compliant technical report by Mining Associates dated effective March 11, 2011 and entitled "Mineral Resource Estimate and Preliminary Economic Assessment Taysan Project" can be viewed under the Company's profile on SEDAR (www.sedar.com).
The Taysan Project contains acopper-gold porphyry deposit with an inferred resource, 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. The Company is currently conducting a Feasibility study under the management of AMEC Minproc Limited, which remains on track and on schedule.
Brian Lueck, Director and V.P. Exploration 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
Johan Raadsma
President, CEO and Secretary
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 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 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.
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.
Contact Information
Investor Relations
KIN Communications Inc.
1-866-684-6730
Ir@kincommunications.com
www.crazyhorseresources.com
