Canada Fluorspar Inc. (TSX VENTURE:CFI) (OTC:CNDFF)("CFI" or the "Company") is
pleased to announce the 11th set of assay results under the Company's Phase 3
diamond drilling program from three drill holes on its AGS Vein property
(formerly Grebes Nest). One drill hole, GS-13-42, located 100 metres northwest
of previously reported drill holes GS-13-21 (press release dated August 20,
2013), GS-13-22 (press release dated September 18, 2013) and GS-13-23 (press
release dated October 8, 2013) cored five separate intersections down dip within
a wide AGS Vein structure: the first intersection having an average grade of
39.22% CaF2 over 2.35 metres; the second intersection having an average grade of
77.90% CaF2 over 3.31 metres; the third intersection having an average grade of
26.79% CaF2 over 3.00 metres; the fourth intersection having an average grade of
39.90% CaF2 over 9.42 metres; and the fifth intersection having an average grade
of 42.91% CaF2 over 5.80 metres. There were two additional drill holes,
GS-13-43, located about 50 metres southeast of previously reported drill holes,
GS-13-07 (press release dated July 11, 2013), GS-13-09 (press release dated July
18, 2013), and GS-13-10 (press release dated August 6, 2013) and GS-13-44,
located on the same plane as drill hole GS-13-43 and about 50 metres from drill
holes GS-13-07, GS-13-09, and GS-13-10. The AGS Vein structure is situated
approximately 4 kilometers from the former Tarefare Mine and less than 6
kilometers from the former Blue Beach North Mine (see location map below). The
three drill holes discussed in this press release are located in the vicinity of
Grebes Nest Pond within the AGS property grid area. Ground geophysical
(magnetometer and EM) survey results indicate that the mineralized structure has
potential to extend for more than 4,000 metres along strike.
Drill hole GS-13-42 was inclined at -45 degrees and oriented at azimuth 34
degrees, drill hole GS-13-43 was inclined at -50 degrees and oriented at azimuth
34 degrees and drill hole GS-13-44 was inclined at -50° and oriented at azimuth
34 degrees.
To view the first map associated with this release, click the following link:
http://media3.marketwire.com/docs/1113cfi_1.jpg
Assay Results
Drill hole GS-13-42 tested the strike extension of the AGS Vein underneath the
southeast side of Grebes Nest Pond and intersected five fluorite mineralized
zones within the AGS structure down dip: the first intersection having an
average grade of 39.22% CaF2 over 2.35 metres; the second intersection having an
average grade of 77.90% CaF2 over 3.31 metres; the third intersection having an
average grade of 26.79% CaF2 over 3.00 metres; the fourth intersection having an
average grade of 39.90% CaF2 over 9.42 metres; and the fifth intersection having
an average grade of 42.91% CaF2 over 5.80 metres. All five mineralized zones are
believed to be contained within the larger AGS mineralized vein structure.
Drill hole GS-13-43 was designed to test the AGS Vein structure down depth in
the vicinity of drill holes GS-13-07, GS-13-09, and GS-13-10 located 50 metres
along strike to the northwest and drill holes GS-13-11, GS-13-12 and GS-13-26
located 50 metres along strike to the southeast. The drill hole intersected the
AGS Vein having an average grade of 76.49% CaF2 over 3.86 metres.
Drill hole GS-13-44 tested a vein structure located south of the AGS Vein. The
drill hole intersected the south vein structure having an average grade of
64.86% CaF2 over 3.34 metres.
To view the second map associated with this release, click the following link:
http://media3.marketwire.com/docs/1113cfi_2.jpg
"The AGS Vein, primarily hosted in metasediments and the first major fluorspar
vein discovered in the St. Lawrence area since the Director Vein in 1937,
continues to produce promising results," stated Lindsay Gorrill, President and
CEO of the Company. "The wide structure containing the AGS Vein and the
associated parallel veins in the vicinity give reason for optimism surrounding
future exploration in this area."
Geological Interpretation
CFI has received assay results for samples collected from drill holes GS-13-42,
GS-13-43 and GS-13-44 located along the western part of the AGS property. Two of
the drill holes intersected mineralization that has been interpreted to be the
AGS Vein while the third drill hole tested mineralization associated with a
parallel vein to the south of the AGS Vein.
Drill hole GS-13-42, located 100 metres northwest of drill holes GS-13-21,
GS-13-22, and GS-13-23, is located within the boundaries of Grebes Nest Pond and
was drilled to test the AGS Vein structure underneath the pond along strike and
down depth in this area. Five separate vein intersections were identified down
dip within a structure believed to be the AGS Vein. The five intersections
occurred between 135 metres to 170 metres below surface. This drill hole
verified that the AGS Vein structure continues underneath Grebes Nest Pond and
appears to contain an extensive mineralized zone. The five veins were hosted in
metasediments.
Drill hole GS-13-43, located about 50 metres southeast of drill holes GS-13- 07,
GS-13-09, and GS-13-10, intersected the AGS vein structure at about 100 metres
vertically below surface and was hosted in metasediments
Drill hole GS-13-44, located on the same plane as drill hole GS-13-43, was
designed to test a vein identified in previous drill holes to the south of the
AGS Vein. The drill hole was successful in intersecting the south vein structure
at about 60 metres below surface and about 110 metres to the south of the AGS
Vein. An additional drill hole, GS-13-45, was drilled below drill hole GS-13-43
to test the down dip extension of the south vein structure. Results from this
hole are pending.
Preliminary interpretation of the drill results indicates that the western part
of the target area of the mineralized AGS Vein structure maintains a relatively
uniform width along strike and pinches slightly down depth to a vertical
distance of between 150 and 200 metres below surface. The drill intersections
indicate very competent core and good continuity of mineralized material along
strike. CFI notes that most of the mineralized material is hosted by
metasedimentary rocks (interbedded siltstones and shales) whereas most of the
mineralized material at the major fluorspar veins in the general area - the
historic Director, Tarefare, and Blue Beach North Mines - are hosted by the St.
Lawrence Granite ("SLG"). The metasedimentary rocks in the St. Lawrence area are
older than the SLG and early geological mapping indicates that the AGS property
area, where the AGS Vein is located, is underlain by a series of stacked pink
rhyolite sills and dykes, similar in composition to the SLG, which intruded the
metasedimentary rocks. The present theory on the formation of this mineralized
structure assumes that the fault zone was penecontemporaneous with the intrusion
of the granite batholith. Subsequent uplifting caused by the intrusion of sills
in the area resulted in the dilation of the existing structure permitting
quartz/carbonate/fluorite bearing solutions to circulation through these
structures.
The following table shows the detailed results of the 11th set of drill holes
completed by CFI on the AGS Vein noted in Phase 3 of the Company's 2013
exploration diamond drilling program.
2013 Diamond-Drill Hole Assay Results
AGS Vein Property - Phase 3
Canada Fluorspar Inc.
St. Lawrence Project, NL
Hole GS-13-42
Sample No. From (m) To (m) Length (m) % CaF2
Vein #1
108813 162.86 163.86 1.00 9.66
108814 163.86 164.46 0.60 69.00
108815 164.46 165.21 0.75 54.81
Vein #2
108821 169.88 170.63 0.75 84.90
108822 170.63 171.63 1.00 87.20
108823 171.63 172.45 0.82 63.47
108824 172.45 173.19 0.74 74.22
Vein #3
108833 183.00 184.00 1.00 22.22
108834 184.00 185.00 1.00 20.66
108835 185.00 186.00 1.00 37.50
Vein #4
108840 189.42 190.42 1.00 17.24
108841 190.42 191.02 0.60 64.40
108842 191.02 191.95 0.93 83.35
108843 191.95 192.66 0.71 77.83
108844 192.66 193.66 1.00 40.20
108845 193.66 194.66 1.00 4.41
108846 194.66 195.66 1.00 23.74
108847 195.66 196.66 1.00 10.53
108848 196.66 197.50 0.84 28.85
108849 197.50 198.22 0.72 49.38
108850 198.22 198.84 0.62 78.23
Vein #5
108856 209.28 210.28 1.00 24.46
108857 210.28 211.28 1.00 23.57
108858 211.28 212.28 1.00 30.15
108859 212.28 212.86 0.58 77.02
108860 212.86 214.08 1.22 83.32
108861 214.08 215.08 1.00 24.35
Hole GS-13-43
Sample No. From (m) To (m) Length (m) % CaF2
108854 118.79 119.50 0.71 19.61
108864 119.50 120.26 0.76 94.61
108865 120.26 121.00 0.74 94.63
108867 121.00 121.80 0.80 87.62
108868 121.80 122.65 0.85 81.53
Hole GS-13-44
Sample No. From (m) To (m) Length (m) % CaF2
108872 51.78 52.03 0.25 14.13
108874 52.03 52.59 0.56 97.51
108875 52.59 52.90 0.31 31.59
108877 52.90 54.00 1.10 80.56
108878 54.00 54.69 0.69 35.86
108879 54.69 55.12 0.43 82.21
Assays on these drill holes were carried out at SGS Lakefield Laboratories
("SGS") of Lakefield, Ontario, using the Ion Selective Electrode method to
determine the fluorite content in the low-grade samples and the Dual Calcium
method for samples expected to contain high-grade values (i.e., those with
significant visible fluorspar in the drill core).
Quality Assurance and Quality Control ("QA/QC")
Check assay work by CFI includes insertion of duplicate samples and blanks with
regular batches of mineralized samples of drill core. QA/QC work is also done at
SGS, and results are reviewed and verified by CFI personnel. An independent
geological consultant (Qualified Person) has submitted additional samples
collected from the drill core for analyses.
Phase 1 of the 2013 exploration program was designed to assess the northern
extension of the Director Vein structure. The six drill holes with assay results
to date have shown that the fluorspar mineralization at the Director Vein
extends further along strike and at depth from the old Aluminum Company of
Canada ("Alcan") workings.
Phase 2 of the 2013 exploration program was designed to evaluate the southern
extension of the Director Vein. A trenching program and a geophysical survey
conducted in the area during 2012 identified the structure over a strike length
of 1,000 metres. The current drill program was planned to evaluate the mineral
potential, at depth, of the southern extension of Director Structure and to test
the north extension of the adjacent Hares Ears Vein to the west.
Phase 3 of the 2013 exploration program was designed to evaluate the AGS Vein
property (previously the Grebes Nest mineral property). Fluorite mineralization
was identified in the 1940sand was exposed on the east side of Little Lawn
Harbour where the structure is approximately 1 metre wide and dips to the north
at -70 degrees. Prospecting in the late 1940s attempted to traced the structure,
through a series of trenches, to the southeast for a reported distance of 3.2
kilometers. In the late 1940s, a 20 metre deep exploration shaft was sunk on a
vein of green fluorite about 500 metres east of the coast. A drift was driven
along the vein for 60 metres and a number of short cross-cuts were developed. In
1949, five short drill holes were completed approximately 1 km southeast of the
shaft and to the south of the projected strike of the structure. These drill
holes identified a number of narrow veins in the metasediments. Due to the
remote location of the showing and the adequate reserves at the operating mines
owned by Alcan, no additional work was undertaken.
Initial exploration information regarding the 2013 exploration program at
Director Vein was included in the Company's press releases dated January 16,
2013 and March 12, 2013.
To date, six Phase 1 drill holes have been completed, together with 26
additional drill holes in Phase 2 (19 holes in south extension Director Vein and
seven holes at Hares Ears Vein) and 48 drill holes in Phase 3 (AGS Vein area) of
the 2013 exploration program. Assay results for remaining completed drill holes
in Phase 3 are pending.
Historic exploration data indicates that there are more than 40 mineralized
veins within the CFI property. The three prominent vein structures, however, are
the Director Vein, Blue Beach North Vein, and the Tarefare Vein. Probable
Reserves of the Blue Beach North and Tarefare veins total approximately 5.4
million tonnes at an average grade of 39.8% CaF2. These Mineral Reserves have
been outlined to a vertical depth of 300 metres below the surface, but fluorspar
mineralization extends further at depth. The key assumptions, parameters and
methods used to estimate the Mineral Resources and Mineral Reserves, as well as
other relevant information, including data verification, with respect to the
Blue Beach North and Tarefare veins can be found in a NI 43-101 Technical Report
prepared by the Roscoe Postle Associates Inc. dated March 6, 2013, which has
been filed by the Company on SEDAR (www.sedar.com).
About the Company
The Company is a specialty mineral resource company engaged in the development
of fluorspar deposits located in St. Lawrence, Newfoundland, Canada, and is
proposing, through Newspar, its 50/50 joint venture with Arkema, to reactivate
the existing Blue Beach North and Tarefare underground fluorspar mines, by
expanding the existing mill and constructing a new, environmentally sound
Tailings Management Facility.
Mr. James H. Reeves, Senior Geologist with CFI, who is a Qualified Person as
defined in National Instrument 43-101 Standards of Disclosure for Mineral
Properties, reviewed and approved the technical content of this news release.
The information regarding historic production has not been verified by the
Company and is provided for reference only.
Material results of the Company's 2012 and 2013 exploration program have been
disclosed in the Company's press releases dated March 1, 13 and 30, 2012, April
16 and 24, 2012 and January 16, 2013, March 12, 2013, April 24, 2013, May 8,
2013, June 5, 2013, July 2, 2013, and July 11, 2013 including assay results from
45 previous drill holes and two surface trenches under the Company's diamond
drilling program which were disclosed in the Company's press releases dated
March 12, 2013, April 24, 2013, May 8, 2013, June 5, 2013, July 2, 2013, July
11, 2013, July 18, 2013, August 6, 2013, August 12, 2013, August 20, 2013,
August 29, 2013, September 18, 2013, October 8, 2013, October 21, 2013 and
October 29, 2013.
For more information please see: www.canadafluorspar.com
Neither 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.
Cautionary Note and Forward-Looking Statements
This press release contains forward-looking statements which include, but are
not limited to: resource estimates, proposed mining techniques required to
construct and produce at expected levels, anticipated timing for completion of
metallurgical testing, the commencement of the drilling program, current
development and operating objectives and outlook, expectations, opinions,
forecasts, projections, guidance or other statements that are not statements of
fact. Although the Company believes that the expectations reflected in such
forward-looking statements are reasonable, it cannot give any assurance that
such expectations will prove to be correct. Results of the Company may be
affected by a variety of variables and risks associated with mining development
including: loss of market, volatility of commodity prices, currency
fluctuations, imprecision of reserve estimates, environmental risks, competition
from other producers, ability to access sufficient debt and equity capital from
internal and external sources, ability to generate sufficient cash flow to meet
its current and future obligations, regulatory approvals affecting construction
and mining operations. Such forward-looking statements are also based on a
number of assumptions which may prove to be incorrect, including, but not
limited to, assumptions about the following: the availability of financing for
exploration and development activities, the estimated timeline for the
development of the project at St. Lawrence, the supply and demand for, and the
level and volatility of the price of fluorspar, the assumptions on which
resource estimates are based, the receipt of necessary permit, market
competition, ongoing relations with employees and impacted communities, and
general business and economic conditions. Should one or more of the risks or
uncertainties involved in forward-looking statements materialize, or should the
assumptions prove incorrect, actual results may vary materially from those
anticipated, believed, estimated or expected. Accordingly, readers should not
place undue reliance on forward-looking statements.
Forward-looking statements are qualified entirely by this cautionary statement
and are given only as at the date of this press release. The Company disclaims
any obligation to update or revise any forward looking statements, whether as a
result of new information, future events or otherwise, except as required by
law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Canada Fluorspar Inc.
Lindsay Gorrill
President and CEO
1-800-823-8095
lgorrill@canadafluorspar.com
www.canadafluorspar.com
Califfi Capital (TSXV:CFI)
過去 株価チャート
から 5 2024 まで 6 2024
Califfi Capital (TSXV:CFI)
過去 株価チャート
から 6 2023 まで 6 2024
